Hello. All your thoughts, guidance, and advice is much appreciated. I am 32 years old. 12.31.2022 will be my 4th full year at a WH firm. Year one I did 100k GDC basically from scratch. Year two I did 300k GDC. Year 3 I did 500k GDC. My pops has been in biz at same WH firm I’m at for 30 years. He has a partner that he’s been with for 15+ years. Him and his partner do 2MM GDC annually. I have no worries at all when it comes to “making it in this biz” with or without my father. The vast majority of my 500k GDC last year came from my own organic growth. My dad wants to retire. Him and his partner are 50/50 split on everything and always have been. I will likely get my fathers 50% of the 2MM team that him and his partner have, considering my only sibling is not in the biz. Also my dad and I are extremely close. Transition for him to retirement will be a breeze because I know most of his clients already and have been running meetings for him for a while now. Our biggest challenge right now is determining team split/comp share arrangements once he is retired/sunsets. I personally don’t like a 50/50 split.


My thoughts are to carefully examine the book and designate each household/client a “relationship manager/advisor”. The vast majority of the clients either work exclusively with my dad or exclusively with his partner. Of course there will be some “one off” clients that deal with both my dad and his partner. Those clients IMO should remain in a 50/50 split arrangement. My thoughts are that the advisor that is actually servicing the client and taking on the bulk of the work should receive 75-80% of the comp. Then 20-25% would go to the other advisor/team. I like this idea because it should incentivize all advisors to grow. It would also put ongoing pressure on the household/client relationship manager attached (advisor attached depending on who works with who) to retain existing biz.


I’m looking for advice, thoughts, and guidance on what to do/present to the team.


What are other teams doing?

What are the Pros/Cons to a 75/25 split?

Should it be 80/20?

What are the Pros/Cons to a 50/50 split?

What has worked best for you and your team?

What have you seen/heard or from other successful teams in the past?

Am I looking at this the right way?


Thank you much!


-LK