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Ok, folks....so here's the thing. Having done the job myself for a few years in various countries, I obviously pretty much know who pays what out there...it's my JOB to know, and besides, candidates that I deal with tell me what I need to know...it just works like that.
All I want to say is this: If you're still earning something ridiculous like 45% commission (or perhaps a tad more), AND you're still paying some or other admin charges or costs for the "privilege" to use certain company facilities, you probably end up taking home 35% after deductions...you DO know this, right??
Man, I don't care WHO the company is-, or what they claim to be or what story they might spin to brainwash you and justify these mediocre rates some of you seem to happily settle for...the fact of the matter is: you are being ripped off - PERIOD!
Look around you if you're sitting in that plush office of theirs that you're probably mostly paying for ,whether you know it or not. Do they seem like they really NEED more of your money?
The fact is that you as the advisor should be getting the lions share of the commission split. You do most of the work, are you not? I know there's a bit more to that, but at the end of the day the company merely provides the means of processing the business...YOUR BUSINESS, and they are of course entitled to a percentage, it's only fair, but 60%+ of your money!? I think not!
I'm sorry to be blunt, and honestly no offense...but only an idiot would continue slaving away and allow themselves to be milked like a dairy cow, not considering how much money they're potentially losing out on. Just imagine having been there for 5yrs or more...how much did you miss out on already?
Remember, it doesn't cost your clients more to pay you what you should be paid, they're non the wiser and not affected in any way. Its the split agreement you should be looking at.
To be honest, some firms have such a bad online reputation, they should be PAYING you having to sit for the 1st 20mins of your first meetings please explaining yourself at times.
Seriously though folks, I deal with some BIG name advisor folks out there. big hitters....and if you're getting this email, you're most likely NOT an idiot. Insulting people is obviously not what I do...but then for the love of all things holy guys and gals, stop allowing yourself to be treated like one!
Want to know what you're really worth?
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