I would caution against the focus on the 98% payout.  Very, very, very few reps will produce enough to hit that level.  Mine is currently at 90%, and I'll make it through 91% and into the 92% range before the year is out, but I won't end up within shouting distance of 98%, and even those who get there (you can count them on one hand) won't get that payout on the first dollar, or even the millionth dollar of production.  For the record, here's the 2007 grid:

0-100K - 90%

100-199K - 91%

200K-499K - 92%

500K-749K - 93%

750K-999K - 94%

1mil-1.999mil - 95%

2mil-2.999mil - 96%

3mil-3.999mil - 97%

4mil & up - 98%

I'm only aware of one LPL rep that will see the 98% bracket, but even he will have some production at 90%, some at 91%, etc.  I would guess that most reps won't get beyond 92%, and obviously they won't average 92% on all of their production.  My actual payout after subscriptions, E&O, ticket charges, etc. is around 86%, so put the rumor to rest that we're all paid 98%.  I'm guessing that the average payout after ticket charges, etc. is somewhere in the mid to high 80's.

WC, can you tell those looking, what the grids/ticket charges/E&O are at Commonwealth?

You are never free...unless you are independent...

and you own part of the broker/dealer:

www.nextfinancial.com

Be an owner.

Glad you like my tagline...

According to unofficial information, at some point in the future, I will receive some shares of my B/D, but I'll believe it when I see it.

I'll bite...feel free to tell us more about Next...we can always use another POV on indy B/Ds...and who knows, I may be in the market to change some day...

Your tagline speaks the truth...

I will be happy to contribute but not tonight, I need to hit the sack.

[quote=Mucho de Tejas]

You are never free...unless you are independent...

and you own part of the broker/dealer:

www.nextfinancial.com

Be an owner.

[/quote]

Not a big fan of Gordon over at NEXT. He left a bad impression with me.

Integrity rules in any situation. I didn't get that great of a hit from the web site and the survey stats.

Mucho, other than ownership ( of course you own your book ), in what ways are you a fan?

Speaking to integrity, I can say with a pretty good level of certainty that unlike some members of management at my old shop, LPL has never lied to me or tried to gloss over a sensitive subject (such as their potential IPO).

That was a big event, looking back and looking forward, and you say it was handled with integrity.

Thanks everyone for some really thoughtful posts here, some of which require thoughtful re - reading, and I hope with these in mind, you will join the new thread, "LPL vs. Commonwealth", which will provide more understanding, even if you don't know a lot about the other.

Joeda, can’t answer your question…empty your freakin’ mailbox…

[quote=Indyone]Joeda, can’t answer your question…empty your freakin’ mailbox…[/quote]

made some room for ya.

I have heard good things about NEXT. From what I have seen on these treads eveyone has their favorites.  In my oppinion the transition team is key.  brokersXpress was extremely helpful in this regard.

[quote=bXpress]I have heard good things about NEXT. From what I have seen on these treads eveyone has their favorites.  In my oppinion the transition team is key.  brokersXpress was extremely helpful in this regard.[/quote]

Isn’t brokersXpress a discount brokerage?

[quote=joedabrkr]

[quote=bXpress]I have heard good things about NEXT. From what I have seen on these treads eveyone has their favorites.  In my oppinion the transition team is key.  brokersXpress was extremely helpful in this regard.[/quote]

Isn’t brokersXpress a discount brokerage?
[/quote]

OK google is my friend.  They are not a discount house.  I stand corrected.

Google and Wikepedia get me through the day!