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Comp

The latest headlines in wealth management.

2019 Comp: Wells Fargo Advisors Clips Payout to Low Producers
12/13/18 | News | Wells Fargo | 8 Comments

2019 Comp: Wells Fargo Advisors Clips Payout to Low Producers

Wells Advisors to Keep Key Pay Component Unchanged–Sources
Wells Fargo

EXCLUSIVE: Wells Advisors to Keep Key Pay Component Unchanged–Sources

12/7/18 | News | 1 Comment

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.

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Comp
Merrill Lynch to Withhold Payment on 3% of Brokers’ Monthly Production
Bank of America, Merrill Lynch

EXCLUSIVE: Merrill to Withhold Payment on 3% of Brokers’ Monthly Production

11/1/18 | News | 96 Comments

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.

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Comp
Merrill to Retain Growth Penalties, Bonuses in 2019 Compensation Plan
Bank of America, Merrill Lynch

Merrill to Retain Growth Penalties, Bonuses in 2019 Compensation Plan

10/15/18 | News | 18 Comments

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.

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Comp, Earnings, Prexit
2019 Compensation: RBC Reinstates 401(k) Match, Keeps Grid Unchanged
RBC

2019 Compensation: RBC Reinstates 401(k) Match, Keeps Grid Unchanged

10/12/18 | News | 1 Comment

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.

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Comp
2019 Comp: RayJay Leaving Pay Plan Untouched for Branch Brokers
Raymond James

2019 Comp: RayJay Leaving Pay Plan Untouched for Branch Brokers

9/20/18 | News

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.

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Comp
2019 Comp: UBS Leaves Plan Mostly Untouched, Retains Strings on Bonuses
UBS

2019 Comp: UBS Leaves Plan Mostly Untouched, Retains Strings on Bonuses

9/12/18 | News | 11 Comments

Hull reminds brokers that non-solicitation agreement will govern those who leave after accepting bonuses.

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Comp
One-Third of Merrill Brokers Took Payout Cuts in First Half of 2018
Merrill Lynch

One-Third of Merrill Brokers Took Payout Cuts in First Half of 2018

8/8/18 | News | 20 Comments

Firm applauds success of 2018 comp plan focused on new-asset and account, despite pay clawbacks from almost 4,900 advisors.

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Comp
2019 Comp: Morgan Stanley Adds Account-Level Bonuses, Leaves Grid Unchanged
Morgan Stanley

2019 Comp: Morgan Stanley Adds Account-Level Bonuses, Leaves Grid Unchanged

7/30/18 | News | 11 Comments

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.

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Comp
Ameriprise Fattens Recruiting Deal in Employee Channel
Ameriprise

Ameriprise Fattens Recruiting Deal in Employee Channel

5/30/18 | News | 27 Comments

Aggressive offer includes potential for top-quintile brokers to receive 320% of their trailing-12 production over four years, including 170% upfront in cash.

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Comp, Recruiting
Andy Saperstein
Morgan Stanley

Morgan Stanley “Feels Good” About Its Comp and Recruiting Policies—Saperstein

5/29/18 | News | 9 Comments

Co-head of wealth management business warns of tough second quarter but says firm is content with its hiring, compensation and technology strategies.

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Comp, Prexit, Recruiting
Merrill to Unveil Mid-Year Award for New Account Growth
Merrill Lynch

EXCLUSIVE: Merrill to Unveil Mid-Year Award for New Account Growth

7/17/17 | News | 4 Comments

As firms wrestle with effects of their recruiting cutbacks, they parse ways to stimulate productivity through ‘organic’ growth.

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Comp
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NEWS

  • UBS Mega-Team in L.A. Joins RBC Wealth

    UBS Mega-Team in L.A. Joins RBC Wealth

    Dec 4, 2019
  • Finra Hits D.A. Davidson Over Muni Disclosures, IAA on Product Sales

    Finra Hits D.A. Davidson Over Muni Disclosures, IAA on Product Sales

    Dec 4, 2019
  • RBC Earnings Slip Despite Boost from Wealth Management

    RBC Earnings Slip Despite Boost from Wealth Management

    Dec 4, 2019
  • UBS’s Single-Share Fund Restriction Takes Effect Mid-January

    UBS’s Single-Share Fund Restriction Takes Effect Mid-January

    Dec 3, 2019
  • Stocks Sink, Bonds Jump as Trump Dents Trade Hopes: Markets Wrap

    Stocks Sink, Bonds Jump as Trump Dents Trade Hopes: Markets Wrap

    Dec 3, 2019
  • Hungry RIAs Creative Planning, Mercer Advisors Snap Up More Firms

    Hungry RIAs Creative Planning, Mercer Advisors Snap Up More Firms

    Dec 3, 2019
  • Stocks Fall on Trump’s Tariff Gambit, Factory Data: Markets Wrap

    Stocks Fall on Trump’s Tariff Gambit, Factory Data: Markets Wrap

    Dec 2, 2019
  • Finra Suspends Broker Who Let a Client Direct Trades in Husband’s Account

    Finra Suspends Broker Who Let a Client Direct Trades in Husband’s Account

    Dec 2, 2019
  • LPL Lures a Top Northwestern Mutual Advisor in Missouri

    LPL Lures a Top Northwestern Mutual Advisor in Missouri

    Dec 2, 2019
  • Stifel Hires $130-Million-Asset Merrill Broker in Texas

    Stifel Hires $130-Million-Asset Merrill Broker in Texas

    Dec 2, 2019

Out of the Box by Mark Grant

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