Investment News is reporting that Morgan Keegan producers may find the deal terms “disappointing”. They certainly aren’t as generous as what can be negotiated on the street.
For the largest producers, those with production more than $1 million, Raymond James will pay 70% of the trailing 12. 50% of trailing 12 month production will be paid to those producing between $500,000 and $1 million. The percentages fall from there for those with lower production.
Morgan Keegan reps certainly should retain legal counsel either to weigh the options for and negotiate a deal to move their books elsewhere, or even to negotiate a better deal with Raymond James. That seems to be an option that is in the cards, according to recruiters cited in the Investment News article.
