employment agreement

Jan

2017

Current Wells Fargo Finet Recruitment Deal

From the desk of James Eccleston at Eccleston Law, LLC:

Wells Fargo Finet has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 25% to 75%. Additionally, the hurdle in order to meet back-end production goals under the deal is:

· Year 1: Hurdle – 75% of revenue Payout bonus: 0% to 50%

All proposed deals are negotiable and reflected in numerous agreements such as promissory note and employment agreements. Reps should retain qualified legal counsel to review those documents in advance of committing to transition to a new firm.

Jan

2017

Current Commonwealth Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

Commonwealth Financial Network has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 25% to 50%. Additionally, the hurdle in order to meet back-end production goals under the deal is:

· Year 1: Hurdle – 50% of assets and revenue Payout bonus: 10% to 40% of production

Jan

2017

Current AXA Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

AXA has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 5% and 55%. The deal includes:

Year 1: Payout bonus – 5% to 15%

Year 2: Payout bonus – 5% to 15%

Jan

2017

Current Wells Fargo Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

Wells Fargo has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 125% and 150%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

High Performance

Premier Advisor Status

Client Experience

Full best practices adoption
Envision 80% average
Advisory – 60% Advisory AUM or 80% Advisory Revenue
Lending – $6,000 lending credits (or $8,000 lending credits for 2016 retro award)

Delta Graduate

Growth

15% revenue growth or $150,000 revenue growth