Hello FAs,

I am an advisor with 11+ years of experience within the advisory, annuity, and life insurance arena, I have a series 7, 66, life & health, and an AIF designation. I now only offer advisory and fee based planning services. I am working for what seems to be a shrinking wirehouse, even though I was told it was a RIA upon my hiring.

QUESTION: Am I getting f*d over or is this a normal comp structure for a wirehouse? Is it normal to have a $50,000 "deductible" before I start recieving any fees?!

The Job:

I manage 50+ households with a total AUM of $16,000,000 of a senior advisor's book of business (C and D clients). Secondary objective is to bring in additional AUM - I have brought in and manage 15 households worth $6,000,000 in additional AUM.

The Comp:

1st - $50,000 salary with benefits to manage the 50+ households. There is no raise, bonus, or asset based increase in pay.

2nd - AFTER I bring in an additional $50,000 in advisory fees to the firm, I will then receive 40% on any fees received for dollars OVER 50,001 through 250,000 AND 45% on any fees received above $250,001.

Obviously, I want this $50K deductible removed, but will a small wirehouse/RIA change their policy for me?

Please advise!

Robb