Ep 332: Transitioning From (A Father's) Commissions-Based Practice To Fee-Based Planning As A G2 Advisor With Liz Hand
Financial Advisor Success
The Pros and Cons of Investing in an Outside Practice
So you were on a commission basis within the practice. Your comp was a percentage of the first year revenue that was generated from those clients. So if you're placing them into more a shares and such, you know, whatever is 5% commission comes through, you get a piece of that. But instead of putting it into share business where you get a percent of the, the whole 4 or 5% upfront, you're putting them into advisory accountsWhere you get a payout on a whole like one quarter of 1% in the first quarterly billing. so there's no upfront pop, but now it's part of the recurring revenue of the business.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
