Broker Check

Your Compensation

As an independent contractor, you have an unlimited ability to earn income. We've completed a recent compensation survey to ensure our leadership in providing payouts, in addition to our strong overall value package. We pay more because we believe you are the best judge of how to use resources to grow your practice.

Representative Compensation Grid (packaged products)**

Twelve MonthPayout
$0 to $74,999          80.0%
$75,000 to $124,999          82.5%
$125,000 to $174,999          85.0%
$175,000 to $249,999          87.5%
$250,000 to $999,999          90.0%
$1,000,000 to $1,999,999               91.0%
$2,000,000 to $4,999,999          92.0%
$5,000,000 plus          93.0%

Payouts are not retroactive, and you don’t have to start over each year at the lowest level and work up. We have designed three qualification methods to help move you up the grid. The first is calendar-year production. The second is your prior 12-month performance, and the third is your prior six-month performance divided by 60 percent (i.e. $60,000 GDC divided by 60 percent, or $100,000). Each quarter, you may calculate the three methods to see if you qualify or ask us to do so. Payout adjustments will occur for the pay period following the quarter’s end.

Payouts rely on advisors submitting all business and work items through the broker/dealer's business submission process (currently Docupace and AdviceWorks) and straight-through processing, including account opening, by the advisor. Payouts are reduced by 2 percentage points (i.e. from 80 percent to 78 percent) if advisors don’t submit their business this way.

** Payouts in the grid are for packaged products. A general securities rate is paid at 10 points less than packaged products (i.e. from 80 percent to 70 percent).

Pooling Of Interests

For producer groups of reps who share the same office space with the intention to function as one business unit and utilizing straight-through processing through Docupace, we have developed a special allowance. The formula is as follows for trailing 12-month GDC only:

Total Group Gross Dealer Concession times 70%

GDC    Payout per grid     
Rep One - $75,00082.5%
Rep Two - $50,00080.0%
Rep Three  -$125,000           85.0%
Rep Four - $15,00080.0%
Total Group GDC: $265,000         
Multiplied by 70%, or $185,50087.5%

The payout advantage of the producer group can be paid to all members, or to one or more members. Producer groups are not eligible for recruiting compensation for additional members within their groups. Amounts can be applied using the grid to determine payouts for all of the members of the producer group.

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