PFA Compensa-on Plan. Train the Trainers Webinar Feb 12, Will Peiravi, SFD Premier Financial Alliance SEAL Team

Transcription

1 PFA Compensa-on Plan Train the Trainers Webinar Feb 12, 2015 Will Peiravi, SFD Premier Financial Alliance SEAL Team

2 Disclaimer The following presenta7on is for training purposes only, it is not for client or public distribu7on

3 Agenda Reimbursement Program Different Types of PFA Compensa7on Personal advance Commission paid out subject to CAP Cross Equivalency PFA Income calculator

4 Reimbursement Program ( Earn While You Learn) Any New Associate who joins PFA is en7tled to $750 business expense reimbursement from their CFT. Reimbursement is received once they pass their license, finish their training sales, and get appointed with Na7onal Life/LSW.

5 Different Types of PFA Compensa7on 1. Personal Commission 2. Spread Override Commission 3. Genera7on Override Commission 4. Bonus Pool 5. Renewal Commission 6. Incen7ve Trips 7. Rings & Rolex Watches 8. Deferred Compensa7on

6 1. Personal Commission

7 Directors Contract Level

8

9 Example

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11 Advanced Personal Commissions are Subject to a Cap*** Only 9 months Chargeback Period (Many companies have a chargeback period up to 2 years) All Commission will be paid 75% in advance subject to agent CAP Remaining 25% pays out in months 10, 11, and 12 as earned Agents get paid directly through LSW not PFA Cap system in place to protect team builders***

12 Life Agents Personal Commission Advance CAP $500 to $1500 CAP Just need QFD approval $3,000 CAP 3 ac7ve personal LFTRs and 30,000 personal paid target in any rolling 3 months. Upline QFD approval $5,000 CAP 9 ac7ve team LFTRs with minimum 3 from personal, and 100,000 base shop paid target in any rolling 3 months Minimum 80% Persistency Ra7o is required for all advance caps

13 2. Spread Commission Override

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16 3. Genera7on Override

17 Example 1: Makes= $100,000 *8%= $8,000 produce $100,000 a month

18 Example 2: Makes: ($100,000 * 8% + $200,000 * 5%)= $18,000 Produce $100,000 Produce $200,000

19 Example 3. Makes: {($100,000 * 8% + $200,000 * 5%) + ($300,000 *5%)}= $33,000 Produce $100,000 Produce $200,000

20 4. Renewal Grid once you become a QFD Example: QFD Base Shop Produces $1,000,000 points per year $1,000,000 * 1.5% * = $15,000 per year just in base shop renewals.

21 QFD Contract Cross Equivalency Program Using credits or commissions track record in any one of the last 3 calendar years to qualify for PFA QFD contract or higher Must be an ac7ve insurance agent from another insurance company or broker (only life, annuity, health, and P&C count) Level Personal Produc-on Track Team Produc-on Track QFD (70%) 100,000 paid target 500,000 paid target SFD (75%) 150,000 paid target 750,000 paid target RFD (77%) 200,000 paid target $1M paid target AFD (79%) NA $1.5M paid target NFD (81%) NA $2.0M paid target EFD (82%) NA $3.0M Paid target

22 5. Bonus Pool Personal Bonus Pool: 2% of the en7re company s total produc7on will be divided amongst the qualifying producers who hit a minimum of 20,000 closed points every month; propor7onally (Min 3 Personal Transac7ons, 80 % Persistency ra7o) Base Shop Bonus Pool: 2% of the en7re company s total produc7on will be divided amongst the QFDs who hit a minimum of 100,000 closed points every month (Min 25 Team Transac7ons, 80% persistency ra7o)

23 6. Rings and Rolex Watches Ring: $100,000 Cash Flow in rolling 12 months Rolex Watch: $3 Mil AV infinity in rolling 12 months

24 7. Trips The following training is for training purpose only, not for client or public distribu7on

25 8. Deferred Compensa7on 1. INFINITY PRODUCTION- MINIMUM REQUIREMENT SHALL BE $2 MILLION DOLLARS 2. SUPER BASE SHOP PRODUCTION MINIMUM REQUIREMENT SHALL BE $1 MILLION DOLLARS 3. BASE SHOP PRODUCTION- MINIMUM REQUIREMENT SHALL BE $600 THOUSAND DOLLARS 4. PERSONAL PRODUCTION - MINIMUM YEARLY REQUIREMENT SHALL BE $100 THOUSAND DOLLARS 5. QUALIFYING PRODUCTION SHALL BE BASED ON AV PAID TARGET LIFE COMMISSIONS. 6. QUALIFYING PRODUCTION FOR EACH PLAN YEAR (August 1 st though July 31st) WILL BE PUBLISHED ON PTRAC

26 PFA Deferred Compensation Plan

27 PFA Income Calculator Please use the PFA income calculator on the SEAL Team Training Website to understand the power of the PFA Compensa7on Plan Power of Building with PFA vs. having a 100% personal producer contract Power of our genera7on override system vs. other companies Example