Broker Check

Your Compensation

As an independent contractor, you have an unlimited ability to earn any income you desire. We've completed a recent compensation survey to assure we stay ahead of our competitors in providing above average payouts in addition to a strong value package. We pay more because we believe you are the best judge on how to utilize resources to serve your client and grow your practice.

Representative Compensation Grid (packaged products)**

Twelve Month     Payout     
$0 to $74,99980.0%
$75,000 to $124,99982.5%
$125,000 to $174,99985.0%
$175,000 to $249,99987.5%
$250,000 to $999,99990.0%
$1,000,000 to $1,999,999     91.0%
$2,000,000 to $4,999,99992.0%
$5,000,000 plus93.0%

These payouts are not retroactive, nor are you required to start over each year at the lowest payout and work your way up. We have designed three qualification methods to help move you up the grid. The first is calendar year production, the next is your prior twelve months and the final method is prior six months divided by 60% (i.e. $60,000 GDC divided by 60% equals $100,000). Each calendar quarter you may calculate the three methods to see if you qualify or you can ask us to calculate it for you. Payout adjustments will only happen for the pay period following the quarter end.

These payouts are reliant upon an advisor submitting all business and work items via the broker/dealer's business submission process (currently Docupace and Smartworks) and straight-through processing, including account opening, by the advisor. Payouts are reduced by 2 points (i.e. from 80% to 78%, from 90% to 88%) if business is not submitted in this manner.

**The payouts listed in the grid are for packaged products. General securities rate is paid at 10 points less than packaged products (i.e. from 80% to 70%, from 90% to 80%).

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     
Rep One - $75,00082.5%
Rep Two - $50,00080.0%
Rep Three  -$125,000           85.0%
Rep Four - $15,000     80.0%
Total Group GDC - $265,000         
Multiplied by 70% - $185,50087.5%

The payout advantage of the producer group can be paid to all of the members, or to any one or more members.

Producer groups are not eligible for recruiting compensation for additional members of their own group. That amount can be applied against the grid to determine the payout for all of the members of the producer group.

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