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Hello, I've been licensed for two years through a regional bank. I have started the quest of becoming a full time financial advisor instead of being a licensed banker with several other responsibilities besides investments. I have been offered a job by a different regional bank's investment company to be a junior advisor. I have not yet accepted this offer because I expect another offer from a smaller family owned firm. I will be accepting one, but not sure which one yet. The bank is offering 20% commission on sales over 25K. Does this mean I would make 18K on a 100K sale? That seems unreasonably high. Anyways, I look forward to being a member of the advisor heads community!

I think it stands forBig Chrese sucks

3bcswins3 wrote: Hello, I've been licensed for two years through a regional bank. I have started the quest of becoming a full time financial advisor instead of being a licensed banker with several other responsibilities besides investments. I have been offered a job by a different regional bank's investment company to be a junior advisor. I have not yet accepted this offer because I expect another offer from a smaller family owned firm. I will be accepting one, but not sure which one yet. The bank is offering 20% commission on sales over 25K. Does this mean I would make 18K on a 100K sale? That seems unreasonably high. Anyways, I look forward to being a member of the advisor heads community!

A-share mutual funds pay about 2,750 on 100k. You would get 550 bucks. If you went to Edward Jones you would get 1100 bucks. If I did that at my Indy B/D I would get 2530 bucks, but you won't be able to get that kind of payout for years.

Annuity commissions are higher, but dropping. About 5% up front, or 5000.00 on 100k sale of which you'ld get 20%. Keep in mind the world is moving away from commissions to Advisory Fees (nothing paid upfront). Clients prefer to "pay as you go", and the government discourages commissions as well. Commissions mean you are a "salesperson", not an advisor. Fees are generally about 1% per year although it sounds like you're not yet licensed to do that. Moving forward it will be very tough to only do commissions- no one on this forum does that anymore.