Financial Plan - Plan Count

This course will discuss the policy on how advisor's get plan count and how they can keep their plan count.

Policy

Policy

Plan count 

  • Generated to the current servicing advisor
    • Team ID - servicing advisor gets the plan count
  • Applies to both AFPS and CAF financial plans
  • One plan count per engagement period
    • In Force engagement. Active or future dated engagement do NOT receive plan count
  • Reassigned plans before delivery - plan count is transferred to the new advisor at the time of reassignment
  • Does NOT apply to Self-sold financial plan
    • Self-sold : servicing advisor and account owner or co-owner is the same at any time during the engagement period (not under client based numbers)

Generate and Keep plan count

To generate plan count

  • Minimum payment of $0.01 applied on the account
  • Any type of client funding (including coupons, discount/subsidy

CRITICAL :

For plans with In Force start date of Jan 1 2016 or later with fee quoted less than $500 will NOT generate a plan count until the fee quoted is changed to $500

To keep plan count

  • $500 minimum fee quoted must be applied 
  • Plan must be delivered

NOTE : 

AAC advisors can have financial plans as low as $300, however, $500 fee quoted minimum and fees applied is required to generate and/or keep plan count.

Plan Count : Match

  • AAC advisor opens a financial plan account with fee quoted of $300. Plan is delivered and fully paid.
    No plan count. Fee quoted is less than minimum of $500.
  • AFG advisor opens a financial plan account with fee quoted of $1000. Plan has fees applied of $300 but not yet delivered.
    Generates a plan count. Fee quoted is more than minimum of $500 and payment applied on the account is at least $0.01.
  • AAG advisor opens a financial plan account with fee quoted of $500. Plan has reached engagement end date, fully paid and delivered.
    Keeps plan count. Minimum fee quoted of $500 has been paid for and plan is delivered.
  • AFG advisor opens financial plan account with fee quoted of $550. Plan has reached engagement end date with $550 payment applied but not delivered.
    Plan count is reversed. To keep plan count, financial plan must have minimum payment of $500 and delivered.