Exorbitant fees and overrides a thing of the past?
Consider the offer below. Is your broker-dealer offering the same?
- Payout of 100% on advisory business and 95% on commissions, with no override by your OSJ
- Admin fee on advisory business of only 5 bps., which includes trading fees
- Flat $1,000 a month OSJ affiliation fee. The fee never increases regardless of the growth of your practice.
- Network with a group of 40 successful financial advisors with the support of one of the top enterprises in the industry
Let's do the math
If you are a $200,000 in GDC advisor with a 90% payout at your current broker-dealer, you are paying your broker-dealer $20,000 a year in just overrides, not taking into account any ancillary fees. With the model shown above, you are paying only $12,000 a year in overrides. The biggest advantage? As you put in the hard work and effort to grow your practice, you will not continue to pay your broker-dealer even more.
The example above is an offer that is unheard of within the financial services industry, especially among top-tier independent broker-dealers. There are no catches. While circumstances may change, the offer is currently limited to the first 20 financial advisors that take advantage. Contact us at (346) 703-3070 to learn more.
Does your broker-dealer earn the substantial override they take on your business? In most cases, we have found broker-dealers are taking 10%, 15% or even 20% as an override on your business just for being your broker-dealer, but they are not providing you with the practice management, marketing and service to substantiate these overrides. Remember, your broker-dealer is a vendor to you as a client and they should have to earn your business each and every day.
Visit our White Paper to learn more about expectations and the future of your advisory business.