New member
Printed From: Advisorheads
Category: Introductions
Forum Name: Greenhorn Introductions
Forum Description: MAKE YOUR FIRST POST HERE!
URL: http://www.advisorheads.com/forum_posts.asp?TID=14952
Printed Date: Mar/26/2026 at 6:44pm
Software Version: Web Wiz Forums 12.03 - http://www.webwizforums.com
Topic: New member
Posted By: 3bcswins3
Subject: New member
Date Posted: Sep/24/2017 at 3:30pm
| 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! |
Replies:
Posted By: Guests
Date Posted: Sep/24/2017 at 3:51pm
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It means you’ll earn 20% of the commission or management fee. They keep 80%. So if 100k is managed at 1%. You get 20% of that 1k or 200 bucks. Or if they pay a commission of 4% on the 100k, you end up with $800. Keep looking as most places pay double that or more than triple if you’re an indy. Does it come with a salary? If so, this might make sense BCS = Bowl championship series? Who’s your team? |
Posted By: advisorman
Date Posted: Sep/24/2017 at 7:31pm
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I think it stands forBig Chrese sucks ------------- King of sarcasm and speling |
Posted By: 3bcswins3
Date Posted: Sep/24/2017 at 8:18pm
| The bank I currently work at pays 20 basis points on the amount of the sale so I make $250 on a 100K sale as a licensed banker. I will need to call and find out more tomorrow because I figured I would be getting at least $1,000 on a 100K sale. I assumed I would get much more substantial commissions as an advisor working for an investment firm than as a banker. Also, I did get offered a salary, but it is much lower than my current salary I'm receiving as a licensed banker. |
Posted By: Jmhalvo
Date Posted: Sep/24/2017 at 8:54pm
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3bcswins3 wrote:Posted By: 3bcswins3
Date Posted: Sep/24/2017 at 9:03pm
| Would annuity sales be about the same? |
Posted By: Jmhalvo
Date Posted: Sep/25/2017 at 8:35am
| 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. |
Posted By: Macduff
Date Posted: Sep/25/2017 at 10:03am
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Honestly? Based on your verbiage, I don't know that I want you selling anything to anyone. I think you need to learn more about the industry and what we do before you worry about selling anything to anyone. ------------- “I was born for the storm, and a calm does not suit me.” ― Andrew Jackson |