Skip to main content
Best Practices

Support for Evolving Business Models

By November 28, 2022November 30th, 2022No Comments

Today, consumers expect their advisors to provide a wider range of solutions and expertise, so it’s no surprise that many Reps are turning to a teaming model to expand their business opportunities. To support Rep teams, ESI is providing the resources and information needed to establish and operate as a formal team.

What’s the Benefit of Forming a Team?
There are many reasons a rep may choose to form or be a part of a team, including:

  • Having a team comprised of different skill sets, market focus, or experience broadens the range of solutions you can bring to your clients and allows you to defer to “your team” to address needs that might be out of your scope of expertise.
  • A team can help you build your book of business and gain prospecting and sales knowledge. It can help a busy Rep with a large book of business better manage referrals and new clients.

Definition of a Team
A team is defined as two or more Reps working together who have a formal business plan on file with Equity Services. The business plan must specify:

  • Who are the members of team?
  • What market/opportunity/purpose does the team addition fulfill?
  • What are parameters of the team – comp splits, territory, market focus, etc.?
  • Is there any length of time you want to keep it in place —i.e. indefinitely?
  • What if it doesn’t work out….is there an exit plan?
  • Anything else you want to share about what you are looking to accomplish?

Recognition and Reporting
The ESI Elite Symposium is ESI’s annual incentive conference, and members of an ESI Team may qualify in multiple ways:

  1. Each Rep will be measured individually and will have ability to qualify for the Symposium as an individual.
  2. Top producing teams in GDC will get additional slot(s) at EES based on overall team production.

Team Qualifications:
To qualify for additional EES attendees, total production should represent a “$450k unit” per team member and each team member must do at least $150k of GDC. More details to follow.

A Teaming production report will be maintained on the agent portal and updated monthly. The report will include the Team name, agency, broker dealer concession amounts, advisory fees, and total YTD fees and concession.

Additional Teaming incentives coming in 2023!

Learn More
For questions contact the ESI Business Development Team at 800-344-7437.

TC130042(1122)1