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Politics : Ask Michael Burke

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To: bosquedog who wrote (89697)	2/20/2001 10:02:46 AM
From: Knighty Tin	Read Replies (10) of 132070

bosque, It is and was, though the firms are trying to cut back on it. The money being paid to top producers is amazing. One firm's East Coast division is paying out one year's full gross commissions and a 65% payout after that for top dogs. Though I have no intention of bouncing around, too hard on the clients and too danged much paperwork for me, I can see why that would tempt. A guy I know, a long time successful broker, was producing $1.5 million gross for a small regional with about a 42% payout. Very good money no matter how you slice it. But when these guys offered him a check for $1.5 million up front and a 65% payout, he couldn't leave his happy little office fast enough. <g> The main thing that is important for me is that the non-compete agreement have some protection for me. For example, if they cut my payout to zero, I should be able to walk with my client list. That is pretty extreme, but many of these firms have "disappearing payouts" over time. <g>

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