LPL Fees

Looking at making a switch from an insurance based BD.

Have an offer on the table from another insurance based BD (MM) - comes with a much higher payout, only a 3 year note, but way higher fees to a client (1.5% between management fee + expense ratio of funds), significantly less insurance FYC (65%), and a lower grid (80%). Seems like there will be much more back office support and less expenses I incur.

LPL FYC is 90-100% pending on insurance product, and 90% grid. It does seem like it comes with more fees, and I’m not as interested in the 7 year note because it seems restrictive. But the all in net fee for a client is only 1.25%. It seems this subreddit gives a lot of mixed reviews here, but LPL seems more autonomous and eventually wanting to launch to RIA, just not ready yet (don’t have the knowledge base on how it works). From my estimates, the fees to have everything up and running seem like about 30k a year between tech fees, E/O, planning software, crm, portfolio fees assessed to me for managing client funds. Does that seem accurate?

That does not include my core staff I have on payroll (would be the same expense wherever I am).

For reference, 15m AUM, typically 175k a year of insurance premium