promissory notes

Jan

2017

Current Cetera Financial Group Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

Cetera Financial Group has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 15% to 55%. Additionally, the hurdles in order to meet back-end production goals under the deal are:

Year 1: Payout bonus – 5% to 30%
Year 2: Payout bonus – 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.

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 Ameriprise Recruitment Deal

From the Desk of Jim Eccleston at Eccleston Law LLC :

Ameriprise has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 10% and 30%. Additionally, the hurdle in order to meet back-end production goals under the deal is:

· Year 1: Hurdle – 65% of assets and revenue

Payout bonus: 10% to 30% of production