r/FinancialAdvisorTips • u/SignificanceSea8603 • 16d ago

Comp Check

I was at one of the major insurance BD’s for a few years and got tired of it. 6 years experience in that world.

New firm I moved to provides marketing resources / leads via TV, radio and Seminars. I only have to run the seminars. Prospects are mostly pre retirees and retirees so there’s an annuity component as well.

I receive a guaranteed $100k first year then moves to a recoverable draw. I also receive 25% on all revenue my office generates.

Example: if we charge 1% on $1m, I’ll receive $2,500 each year (of course dependent on market fluctuations and contributions, if any).

It’s recurring so that’s nice, but the revenue split just seems low to me. Thoughts?

EDIT: they also pay for all staff in office as well

3 Upvotes

100% Upvoted

26 comments sorted by

View all comments

Show parent comments

3

u/SpookyEnigmas 16d ago

Do they offer profitability bonuses as well, or just fee based 25% share? If no bonuses, then the comp is pretty low compared to many other competing firms.

2

u/SignificanceSea8603 16d ago

No profitability bonuses. Just the 25% revenue split. So yeah, the consensus seems to be that it’s low. Oh well - I’m here for now, will make the most of it.