AADVISOR TRANSITION LAB

PRIVATE ASSESSMENT

Find the move that
compounds your practice.

A decision-grade opportunity matrix for registered financial advisors considering a change in platform, payout, and ownership.

01 / Opportunity map

Model upside across leading advisor platforms—then pressure-test it against what matters to your team.

01 Your practice

Start with the
facts on the ground.

Current firm OptionalAssets under management USD millionsAnnual production USD millionsFee-based production PercentTransaction production PercentAnnuity / insurance production Percent

Methodology & assumptions

Production mix: 0% of annual production — adjust to 100%.

Production mix is currently a diligence input, not a payout multiplier. The lab will not imply product-level precision until a firm’s current advisory, brokerage, mutual-fund, annuity and insurance crediting schedules are entered.

Edward Jones benchmark assumptions: 25% individual stocks, 25% individual bonds, 25% mutual funds and 25% fee-based accounts; 10 years of service; year-end basic bonuses included in deferred totals. Excludes growth, asset-based and other contingent bonuses; voluntary deferral matches, 401(k) matches and profit-sharing unless noted; T&E allowances, discount sharing, ticket charges, small-household or small-ticket policies, and option awards.

Raymond James Traditional Employee uses the supplied pro forma: 160% of T-12 upfront plus four AUM-conditioned backends at months 12/24/36/48. The hurdles are 90%/110%/120%/140% of starting AUM, and the bonuses equal 15%/20%/20%/20% of prior-year production using an 85%/95%/105%/110% transition ramp. Estimated annual take-home uses 47% for years 1–4 and 50% from year 5. LTIP, retention stock, retirement contributions and marketing allowances are excluded from take-home and break-even.

Dynasty is modeled at approximately 62% net owner take-home at scale with no standard recruiting bonus. Optional capital is shown separately as financing of up to 100% of T-12 and is excluded from upfront cash and break-even. Sanctuary is modeled at a 65% owner take-home midpoint after ordinary business overhead; its advertised 78%–94% rate is entity income before local expenses. Sanctuary transition assistance is bespoke and therefore shown as $0 guaranteed until an actual term sheet is entered.

Wells Fargo PCG uses the published 2026 monthly formula: 22% on the first $13,500 of eligible monthly revenue and 50% above it. The model adds 1.4325% estimated deferred compensation to reproduce the standardized 2025 $1M-producer result of $468,965; growth, deposit, lending, annuity and multigenerational-account incentives are excluded. The displayed 180% upfront / 340% potential recruiting structure is a market estimate based on reported Wells packages and requires a current offer for confirmation. FiNet is modeled separately at an 85%–92% gross entity payout and 77% after typical platform charges, before practice payroll, rent, benefits and other local overhead; its 100%–150% transition range is an estimate, while Wells publicly confirms customized upfront and ongoing financial support.

RBC Wealth Management annual take-home interpolates Financial Planning’s standardized 2025 base-plus-Deferred-YE results: $156,000 at $400K production, $267,900 at $600K, $501,800 at $1M and $1,070,000 at $2M. The source mix assumes equal quarters of individual stocks, individual bonds, mutual funds and fee-based accounts with 10 years of service. RBC states that asset-based programs generally credit a higher percentage than most other products, so the lab does not apply a single commission-versus-fee differential beyond that standardized mix. The 150%–170% upfront and 275%–330% total transition ranges are market estimates; actual note forgiveness, asset transfer and production hurdles require a current offer.

Economics view: each row is tagged verified, supplied or provisional. “Standardized total comp” combines base pay and Deferred-YE at the cited production point and is not the same as a cash grid. Employee payout, independent entity income and net owner economics are not directly interchangeable: entity figures are before payroll, rent, benefits and other practice expenses. Undisclosed thresholds require confirmation from a current compensation plan or term sheet.

Expanded-firm methodology: Merrill, Morgan Stanley, Stifel, Janney and UBS use the highest standardized 2025 total-compensation point available in the Financial Planning/Tasnady study when identified; totals include Deferred-YE and therefore may exceed the cash grid. Baird, Oppenheimer, J.P. Morgan, Citi and William Blair are provisional maximum-grid estimates pending a current compensation plan. Cambridge, Kestra, Triad and HilltopSecurities are shown as gross independent entity payouts; Hightower and RFG are modeled as net owner economics. Custom recruiting awards remain $0 until supported by a current term sheet.

Break-even is calculated as upfront ÷ the annual take-home shortfall versus annual production. RJ Independent uses the supplied gross payout grid, beginning at 70% for $200K–$300K and reaching 88% at $20M+ of annual production; branch expenses are excluded. Osaic’s estimate deducts its 38 bps Regulatory & Protection fee ($1,000 minimum / $5,000 maximum) plus the $6,672 annual affiliation fee. LPL uses its 90% payout plus the applicable individual production bonus, less 41.75 bps in SIPC/FINRA assessments and $6,920 in standard annual affiliation costs; optional and program-specific charges are excluded. “Never” means estimated take-home matches or exceeds annual production.

Recruiting-package audit: Janney and Merrill use market-reported upfront and contingent-backend schedules; UBS uses the reported 2026 special offer for approximately $7M+ producers and should not be treated as its standard deal. Wells PCG, RBC and Rockefeller ranges are market estimates; Raymond James figures are based on supplied pro formas. Ameriprise, Baird, Stifel, Oppenheimer, William Blair and Morgan Stanley publicly confirm one or more forms of upfront notes, bonuses, guarantees, deferred-compensation replacement or contingent awards but do not publish a single universal percentage. Independent-platform transition assistance, asset-based awards, financing and acquisition capital are not interchangeable with forgivable recruiting cash. Every package remains subject to production, asset-transfer, tenure, good-standing, repayment, interest and forfeiture provisions in the final agreements.

Important legal disclosure. This lab is an educational, preliminary comparison tool—not legal, tax, investment, employment, valuation, compliance or recruiting advice, and not an offer, recommendation or guarantee. Figures are illustrative estimates derived from public information, supplied materials and stated assumptions; they may be incomplete, outdated, negotiable or inapplicable to a particular advisor, team, jurisdiction, product mix or affiliation model. Firms may change compensation, transition, ownership, repayment, restrictive-covenant and eligibility terms without notice. No representation or warranty is made as to accuracy, completeness or future results. Users must independently verify every figure and pathway against current written compensation plans, contracts, disclosure documents and firm-approved term sheets, and should consult qualified legal, tax, compliance and financial professionals before acting. Firm names and trademarks belong to their respective owners; inclusion does not imply endorsement, sponsorship or affiliation.

02 / Your opportunity

Compare the paths
in front of you.

Illustrative upfront range$0–$0At $0 production

03 / Comparative matrix14 options shown

Wirehouse and regional employee platforms shown together for direct comparison of payout, recruiting economics, culture, capabilities and future ownership paths.

PlatformIllustrative upfrontMax / standardized economicsWhat drives the move

Current

—$0Baseline for proposed paths

Ameriprise Financial — Employee

Custom upfront and potential back-end bonuses — current offer required$0 @ 57.0% max; verified: Published performance-based maximum; current AAG grid and offer requiredAmeriprise confirms extensive upfront and potential back-end programs and a performance-based employee payout up to 57%; exact recruiting economics are customized

Baird

Custom upfront forgivable note — high percentage of T12; current offer required$0 @ 50% max; provisional: Estimated maximum; current compensation plan requiredBaird confirms an upfront note equal to a high percentage of T12 plus potential smaller back-end bonuses, but does not publish one standard percentage

Citizens Private Wealth

$0$0 @ 50% max; provisional: Pro forma / offer-specific; public threshold unavailablePrivate-bank capabilities, tailored advice and a possible negotiated RIA structure within the Citizens Private Wealth ecosystem

Janney Montgomery Scott

$0–$0 upfront / $0–$0 potential$0 @ 51% standardized total comp; verified: $2M production; includes $137.7K Deferred-YEReported backends: 5% at 75% T12, 5% at 75% AUM, then 15%/15%/25% tied to 100%/110%/125% production and specified asset hurdles through month 50

Merrill Lynch Wealth Management

$0–$0 upfront / $0–$0 potential$0 @ 50.3% standardized total comp; verified: $2M production; includes $160.4K Deferred-YEReported backends equal 50%/40%/30%/25%/25% of annual production when transferred-asset hurdles reach 75%/95%/115%/125%/155% in years 1–5; negotiable and current offer required

Morgan Stanley Wealth Management

Custom upfront forgivable note, deferred-comp make-whole and asset/revenue backends — current offer required$0 @ 48% standardized total comp; verified: $2M production; includes $96K Deferred-YEMorgan Stanley confirms deal-specific projections; public reports describe upfront notes, deferred-compensation replacement and backends tied to transferred assets and production, but no current universal percentage is published

Oppenheimer & Co.

Custom upfront recruiting bonus — current offer required$0 @ 50% max; provisional: Estimated maximum; current compensation plan requiredOppenheimer publicly confirms an upfront recruiting bonus and full-service transition support but does not publish a universal percentage

Raymond James Traditional Employee

$0$0 @ 50% max; supplied: Supplied pro forma: effective from Year 5160% upfront; backends at months 12/24/36/48; Raymond James AdvisorChoice supports later movement across employee, independent and RIA models

RBC Wealth Management

$0–$0 upfront / $0–$0 potential$0 @ 53.5% standardized total comp; verified: $2M production; includes $110K Deferred-YERBC confirms an initial note without set forgiveness production goals plus a second note issuable annually for a fixed period when production goals are met; displayed percentages remain market estimates

Stifel

Custom upfront demand note — based on T12 and AUM; current offer required$0 @ 53.8% standardized total comp; verified: $2M production; includes $120K Deferred-YEStifel confirms transition pay through upfront demand notes determined primarily by trailing production and AUM, generally forgiven over five to ten years

UBS Wealth Management USA

$0–$0 upfront / $0–$0 potential$0 @ 54% standardized total comp; verified: $2M production; includes $160K Deferred-YEReported 2026 offer targets roughly $7M+ T12 teams, with about 250% upfront and the balance performance-contingent over a 16-year commitment; ordinary recruit deals remain customized

Wedbush Securities

Custom recruiting package$0Entrepreneurial wealth platform with employee, independent-contractor and RIA affiliation options; compensation requires offer-specific verification

Wells Fargo Advisors Private Client Group

$0$0 @ 50% max; verified: $162K annualized ($13,500 monthly); marginal rate$13,500 monthly hurdle: 22% below and 50% above; estimated recruiting package is offer-dependent; Wells supports both PCG and FiNet affiliation paths

William Blair Private Wealth Management

Custom transition bonus, loan and/or salary guarantee — current offer required$0 @ 50% max; provisional: Estimated maximum; current compensation plan requiredWilliam Blair discloses transition bonuses, loans and salary guarantees but does not publish a standard recruiting percentage

READ THIS CORRECTLY

Upfront cash is one chapter. Ownership is the ending.

For an advisor at $0 in assets and $0 of production, the strongest decision weighs portability, team continuity, brand, enterprise value, and the economics you keep building after the check clears.

Find the move thatcompounds your practice.

Compare the pathsin front of you.

Upfront cash is one chapter. Ownership is the ending.

Find the move that
compounds your practice.

Compare the paths
in front of you.