Paid Commissions on 'IRA Setup?'

[Mike Siegal]

Hey Buds,

Are there companies who pay a commission to those who bring them business to setup IRA's ?

Some one I met said that he is paid to setup IRA accounts (but he's not a financial planner).

Can anyone verify if this 'Payment to agents' is available (or not)?

Thoughts/Comments ?

Thanks

 

[Tahoe Ray]

Hey Buds,

Are there companies who pay a commission to those who bring them business to setup IRA's ?

Some one I met said that he is paid to setup IRA accounts (but he's not a financial planner).

Can anyone verify if this 'Payment to agents' is available (or not)?

Thoughts/Comments ?

Thanks

Maybe he's setting up IRAs funded with annuities? That's where the commissions come from?

Agents (and planners) get paid from the investments inside the IRA. Not filling out paperwork for people.

Maybe he's charging people to do the paperwork? I don't even know if that's possible but maybe as an accountant or someone billing hourly?

Guessing here...

 

[DHK]

I'm sure there are affiliate programs out there where you refer someone for an account and you get some kind of token commission.

 

[Mike Siegal]

Yes... there are companies that pay affiliate commissions. Find them on Click Bank ~

 

[newbie2001]

Hey Buds,

Are there companies who pay a commission to those who bring them business to setup IRA's ?

Some one I met said that he is paid to setup IRA accounts (but he's not a financial planner).

Can anyone verify if this 'Payment to agents' is available (or not)?

Thoughts/Comments ?

Thanks

Many advisors will pay a small solicitors fee. Nothing you want to count on though. Highest I have been given is 0.3%