LOOK, LATELY IT'S BEEN TOUGH TO BE AN ADVISOR. No doubt about it.
So let's take a hypothetical situation: Let's say you are an advisor that has been doing everything in your power to grow your book. But the market has been working against you. After 2 years, the company is going to cut your salary and leave you with a 20% payout. If you have $10 million in AUM, then it's going to be tough to make it on $20,000/year. And you might be finding yourself ready to make a career change. No one could blame you. Heck, even 30 year veterans are questioning this career path.
As you know, should you move on to a different career, those assets that you have worked hard to accumulate will get absorbed back to your firm and get handed out to the other advisors in your office. You, obviously, get nothing for leaving those assets to the firm upon your departure.
If this is your situation, we encourage you to consider a smarter alternative:
A Severance Package