FAQs

Does Presidential cover the cost of my Licensing and Registration?
What incentives do you offer for reps moving from another firm?
What is the standard payout grid for reps?
Does the firm provide a higher payout for some products vs. others?
How long will it take to transfer my client’s accounts?
Does the firm do anything to offset the cost of account transfer fees?
Is a specific (shared) assistant assigned to each broker or do you use a pooled system?
Are Sales Assistants only salary compensated or can brokers provide additional compensation in the form of bonuses or revenue sharing?
Do new brokers have an office or work in the bullpen?
If I do not have an office initially, where do I need to be in order to qualify for an office?
What additional training do you provide to your reps?
Does your system automatically calculate RMD’s?
When is a client billed?
When is the rep paid?
How are discounts handled?
What programs are available for clients who prefer a fee-based instead of transaction based commissions?
What is the account minimum?
What are the minimum and maximum fees?
What types of Mutual Fund Wrap Programs are available through Presidential?
What Funds are available through these programs?
What are the minimum and maximum fees?
Can we use both load and no-load funds? 
What types of SMA programs are available?
What managers are available through Wells Fargo/FCC?
What are the minimum and maximum fees?
Do your advisors have flexibility on what they charge for planning?
What planning software do Presidential reps use?
Can you consolidate statements, with a summary, for a collection of accounts in the same household?
Do annuities show up on the client’s FCC statement? 
Do your brokerage accounts offer check writing, ATM or Visa?
What are you annual fees for non-advisory accounts?
Does the broker have discretion to waive account fees – for instance, if the client has a large wrap (fee based) investment account can we waive fees for a connected checking account?
Can clients access their accounts online?

The Transition Process

Does Presidential cover the cost of my Licensing and Registration?
Depending on circumstances, Presidential will normally pay first year relicensing of a rep transferring from another firm.

Q. What incentives do you offer for reps moving from another firm?
Most incentive packages are customized for each rep – please go to producer transition and plug in your past and future numbers to see how powerful your transition package can look.

Q. What is the standard payout grid for reps?
The standard payout grid is as follows:
                                50%        Less than $10,000 in monthly production
                                55%        $10,000 to $17,499
                                60%        $17,500 and above

Q. Does the firm provide a higher payout for some products vs. others?
No – all revenues generated from all sources are combined to determine the breakpoint for the rep’s monthly production
                               
Q. How long will it take to transfer my client’s accounts?
For accounts transferring over the ACAT system accounts should arrive in 5-7 business day once the transfer paperwork is received by our firm. Our operations team will help you every step of the way.

Q. Does the firm do anything to offset the cost of account transfer fees?
Depending on the situation, presidential normally reimburses clients that transfer in during a transitional period $75-$100 per account assuming an account value of at least $10,000

What Presidential can provide for you

Q. Is a specific (shared) assistant assigned to each broker or do you use a pooled system?
The firm has a full operations staff and will provide a “pooled” support assistant for all reps, and will contribute to the cost of a dedicated sales assistant when a rep reaches $350,000 in annual production.
Some Reps have chosen to hire their own sales assistants, the costs being expensed through payroll on a pre-tax basis.

Q. Are Sales Assistants only salary compensated or can brokers provide additional compensation in the form of bonuses or revenue sharing?
Reps can provide additional compensation to assistants in the form of bonuses when warranted. Additional compensation in the form of revenue [commission] sharing is permitted assuming that the sales assistant is duly licensed.

Q. Do new brokers have an office or work in the bullpen?
The determination of where a broker will be placed in the office will be determined by production on a case-by-case basis.