James Eccleston

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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Current Oppenheimer Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC:eccleston-law-offices-ar

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

·         Year 1: Hurdle – 60% of assets

Payout bonus: 20% of production

·         Year 2: Hurdle – 90% of assets and 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 LPL Financial Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC:investment-losses

LPL Financial has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 10% to 55%. 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: 5% to 40% 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 JP Morgan Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC:
business-1219868_1280-2

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

·         Year 2: Hurdle – 75% of assets and revenue

Payout bonus: 25% of production (15% cash, 10% J.P. Morgan equity)

·         Year 3: Hurdle – 100% of assets and revenue

Payout bonus: 25% of production (15% cash, 10% J.P. Morgan 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 Hilliard Lyons Recruitment Deal

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

Hilliard Lyons has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 60% to 90%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

·         Year 1: Hurdle – 70% of assets                                                Payout bonus: 25% of production
·         Year 2: Hurdle – 90% of assets and revenue                           Payout bonus: 15% of production
·         Year 3: Hurdle – 105% of assets and revenue                            Payout bonus: 10% of production
·         Year 4: Hurdle – 125% of assets and revenue                         Payout bonus: 10% 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 Hightower Advisors Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC:

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

Hightower Advisors has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 90% to 120% and Hightower equity: 80% to 100% of production (in private 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 Focus Financial Partners Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

financial stress

Focus Financial Partners has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 50% to 100%. Additionally, the hurdle in order to meet back-end production goals under the deal is:

·         Year 2: Hurdle – 90% of revenue

Payout bonus: 0% to 25%

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 Dynasty Financial Partners Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC : tie-690084_1280

Dynasty Financial Partners has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 50% to 75%. Additionally, the hurdle in order to meet back-end production goals under the deal is:

·         Year 1: Hurdle – 75% assets and revenue
           Payout bonus: 0% to 45% 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 Commonwealth Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC : investment-losses

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

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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