broker count of people quiting thus far in A large metro area south central.



7 FAs

[quote=bankfa10]broker count of people quiting thus far in A large metro area south central.

7 FAs [/quote]

Why not be specific about where?

Dont worry bankfa10 …we wont guess who you are and tell your boss…

I'm being offered a pathways advisor position over in the east coast. Does anybody know the breakdown of the "Pathways compensation payout grid". Any help would be greatly appreciated. Thanks.

Before  I left (recently )  salary of 40k...grid is geared twds using their mutual fund wrap program.

Managed money pay out was 30%

mutual funds 15%

annuities( good luck getting them approved as pathways) 10%

you are being offered a position and can’t seem to ask your future mgr or future peers about comp? Go back to grade school.

Real funny, true, but not nice, ezmoney.  And waterboy's right about Pathway's writing annuities, it's tough to get them through if you're a trainee.  However, if you're doing fee-based, you can flip all the B shares and annuities that you want.

Pathways are generally paid $40K salary.  In a rare instance, they'll pay more for an experienced broker that they couldn't hire through the normal method (most brokers have to "qualify" on a revenue vs. experience grid, not something you need to worry about).  Wrap and insurance business is paid at 35%.  Mutual funds are paid at 15% and annuities at a dismal 10%.  You're on this system for 18 months and then the salary gets faded out while you get put onto the normal grid.  Which, by the way, is lower for wrap and insurance business but is higher for the rest.  Do a forum search for more detailed info on this.

I truly think Pathways is a great program in the middle of a horrid system.  You'll need to ascertain what accounts and branches you'll be covering.  If you're not decisive, they'll stick you with all the under $5k accounts in the whole region and you'll be forced to service them.  Don't believe the nonsense about Premier Bankers (Client Managers).  They're not going to refer you their good clients' investment dollars, especially when they see you giggling about the score you got last week on the Series 7.