Comp
EXCLUSIVE: Wells Advisors to Keep Key Pay Component Unchanged–Sources
Monthly production hurdle that Private Client Group brokers must hit before qualifying for 50% payout won’t jump, as bank-owned broker seeks to reassure its troops.
EXCLUSIVE: Merrill to Withhold Payment on 3% of Brokers’ Monthly Production
Credits on which brokers will not be paid will be capped at $4,000 of revenue a month, an attempt to rein compensation growth that has been exceeding revenue growth.
Merrill to Retain Growth Penalties, Bonuses in 2019 Compensation Plan
Firm has no plans to pull out of the Broker Protocol, a senior executive said after Merrill Lynch Wealth Management reported its highest third quarter of revenue since being bought by Bank of America.
2019 Compensation: RBC Reinstates 401(k) Match, Keeps Grid Unchanged
After multi-year cessation, the wealth management unit of the Canadian bank restores its retirement account match for brokers and makes no changes to its 2019 payout plan.
2019 Comp: RayJay Leaving Pay Plan Untouched for Branch Brokers
After payout cuts last year, firm tells its approximately 3,100 employee-brokers that it won’t rock the boat in the upcoming compensation plan.
2019 Comp: UBS Leaves Plan Mostly Untouched, Retains Strings on Bonuses
Hull reminds brokers that non-solicitation agreement will govern those who leave after accepting bonuses.
One-Third of Merrill Brokers Took Payout Cuts in First Half of 2018
Firm applauds success of 2018 comp plan focused on new-asset and account, despite pay clawbacks from almost 4,900 advisors.
2019 Comp: Morgan Stanley Adds Account-Level Bonuses, Leaves Grid Unchanged
In push to get brokers to use financial plans and adopt asset-gathering technology, firm adds grid payout points for each customer with a plan and boosts revenue credit for each customer that makes firm its primary commercial bank.
Ameriprise Fattens Recruiting Deal in Employee Channel
Aggressive offer includes potential for top-quintile brokers to receive 320% of their trailing-12 production over four years, including 170% upfront in cash.
Morgan Stanley “Feels Good” About Its Comp and Recruiting Policies—Saperstein
Co-head of wealth management business warns of tough second quarter but says firm is content with its hiring, compensation and technology strategies.
EXCLUSIVE: Merrill to Unveil Mid-Year Award for New Account Growth
As firms wrestle with effects of their recruiting cutbacks, they parse ways to stimulate productivity through ‘organic’ growth.
