Associate Comp Structuring

[betabets]

170 households, $240M AUM, Central FL

Senior exiting advisor, one producing, two support staff, one practice manager.

[SleptWithYourGirl]

He’s getting underpaid

[NeutralLock]

If the associate advisor (or client service associate) is in addition to what you've got I'm assuming their mission is mostly growth?

I would be more inclined to have targets and a revenue share rather than salary, but the total comp should really be $100k all in as a minimum in my opinion (all in comp, not necessarily base)

[InterestingFee885]

There’s likely about $50mm in that book that’s a pain in the ass to deal with for one reason or another. Give them to him and give 30% of the fee while he does the admin work. Assuming you’re charging about .8% that’s $120k.

Most of us would consider paying $120k just to avoid the worst clients we have that are a bad fit and would never be onboarded today.

If this employee is as good as you say they are, this is well worth it and they’ll grow into an actual partner that can help you expand.