I am considering joining ML as an Advisor, however I have heard some conflicing advice on just how an advisor is paid.
A few brokers there have thrown out comments about how many "PC's" they are doing, and if they are on a 40% grid then its easy to assume what their take-home is.
However, it's my understanding that a broker doesn't earn money on accounts under $250k.
So theoretically could a broker be doing 750,000 PCs, but if 150,000 of those PC's are coming from accounts under the $250k, then they are really only making 40% on 600,000 PCs. Right?