What do you get for passing the Series 7 and 63?

College Confidential Community
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<p>I just looked up Schwab, and this is on their website:</p>

<p>“The Service component pays a representative 7% of the approximate annual revenue attributed to clients in their Practice”</p>

<p>I guess they do have a commission component. Seems like a really tough way to make money when commissions are really small.</p>

<p>“When accounts in their Practice increase in size, these accounts are sometimes reassigned to a Financial Consultant who serves clients with similar asset levels. Representatives whose clients are reassigned due to account growth are paid $40 per $100,000 of client assets.”</p>

<p>Especially if you keep loosing your larger clients.</p>

<p><a href=“http://www.aboutschwab.com/about/overview/compensation.html#branch1[/url]”>http://www.aboutschwab.com/about/overview/compensation.html#branch1&lt;/a&gt;&lt;/p&gt;

<p>at 0.0350% of assets for a fee based account, you would need $285 million of assets to make $100,000. That is A LOT of assets.</p>