Financial advisors

Current SII Investments Recruitment Deal

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

investment-losses

SII Investments has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 5% to 30%. Additionally, there is a Year 1 payout bonus of 5% to 10% and a Year 2 payout bonus of 5% to 10%.

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.

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Current Steward Partners Recruitment Deal

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

Business People. Successful Business Partner Shaking Hands in the office. Business Team

Steward Partners has marketed a recruitment deal to financial advisors which consists of an upfront cash payment up to 100% cash and up to 100% in equity. In addition, a succession plan deal may provide for less in cash plus equity and books/practices under $1M for candidates looking to retire. Lastly, premiums still are offered an additional 25% in equity for first adopters in new markets (100% cash plus up to 125% equity).
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.

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Current Summit Financial Recruitment Deal

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

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Summit Financial has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 5% to 25%. Additionally, there is a year 1 payout bonus of 5% to 15% and a year 2 payout bonus of 5% to 15%.
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.

 

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Current Waddell and Reed Recruitment Deal

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

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Waddell and Reed has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 5% to 50%. Additionally, there is a year one Asset Transfer payment (forgivable loan):  5% 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.

 

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Current Wells Fargo Finet Recruitment Deal

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

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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.

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Current RW Baird Recruitment Deal

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

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RW Baird has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 50% to 100%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

·         Year 1: Hurdle – 70% of assets and revenue

Payout bonus: 25% of production

·         Year 2: Hurdle – 90% of revenue

Payout bonus: 25% of production

·         Year 3: Hurdle – 105% of revenue

Payout bonus: 25% of production

·         Year 4: Hurdle – 125% of revenue

Payout bonus: 20% of production

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.

 

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Current RBC Recruitment Deal

From the desk of James Eccleston at Eccleston Law, LLC:rbc_place_ville-marie

RBC has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 100% to 140%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

·         Year 1: Hurdle – 50% of assets and revenue

Payout bonus: 30% of production

·         Year 2: Hurdle – 85% of assets and revenue

Payout bonus: 25% of production

·         Year 3: Hurdle – 100% of revenue

Payout bonus: 25% of production

·         Year 4: Hurdle – 115% of revenue

Payout bonus: 25% of production

·         Year 5: Hurdle – 125% of revenue

Payout bonus: 15% of production

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.

 

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Current Raymond James Financial Recruitment Deal

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

financial stress

Raymond James Financial has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 10% to 30%. 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 30% of production

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.

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Current Raymond James Associates Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLCapple-1867752_1280 (2)

Raymond James Associates has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 50% to 125%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

·         Year 1: Hurdle – 70% of assets and revenue

Payout bonus: 25% of production

·         Year 2: Hurdle – 90% of revenue

Payout bonus: 10% of production

·         Year 3: Hurdle – 105% of revenue

Payout bonus: 10% of production

·         Year 4: Hurdle – 125% of revenue

Payout bonus: 10% of production

·         Year 5: Hurdle – 150% of revenue

Payout bonus: 5% of production

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.

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Current Janney Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLCcomputer-office-1209640_1280

Janney has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 115% to 155%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

  • 1st Back-End Bonus (production based): Awarded if 75% of T12 is achieved (best 12 of 1st 14 months). Payout bonus: 5% of best 12 of 1st 14 months.
  • 2nd Back-End Bonus (asset based): Awarded if 75% of hired AUM is networked by month 14. Payout bonus: 5% of hired T12.
  • 3rd Back-End Bonus (months 15 – 26; asset & production based): Awarded if 100% of hired T12 is achieved (months 15 – 26) AND 100% of hired AUM is networked by      month 26. Payout bonus: 15% of month’s 15 – 26 production.
  • 4th Back-End Bonus (months 27-38; production based) / (asset based): Awarded if 110% of hired T12 is achieved for months 27 -38. Payout bonus: 15% of month’s 27 -38 production.
  • 5th Back-End Bonus (months 39-50; production based): Awarded if 125% of hired T12 is achieved for months 39-50. Payout bonus: 25% of month’s 39-50 production.

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.

 

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