Selling your office??

Comments (2)

FiguringOutLife in Oklahoma City, Oklahoma

55 months ago

When you retire, do you "sell" your office, clients, etc., back to Jones? How does the transaction work? Are you vested in the company? It's not a franchise is it?

Vensik in Mechanicsville, Virginia

55 months ago

Throughout your career if you are involved in the company, you will be offered to purchase a portion of the limited partnership or even be invited to become a General partner. The LP is your real retirement from the company and will pay you a percentage based on the companies profit. It has historically paid pretty well, ie 15-20% and pays for life, there is a minimum it will pay as well (I believe spouses life as well).

You do not sell your clients back to EJ, however one interesting opportunity after you are well established is leasing your office back to EJ. When you are first set up, EJ will open a branch for you, lease the office space, hire you a BOA, ect with no out of pocket to you. At some point you may actually purchase the real estate and EJ will continue to pay you a lease for the office space. Building equity in yourself and eventually an income stream.

At EJ you are vested from day 1. Your 401k match is all 100% vested on the day your hired.

Hope it helps a little.

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