Firm applauds success of 2018 comp plan focused on new-asset and account, despite pay clawbacks from almost 4,900 advisors.
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.
Aggressive offer includes potential for top-quintile brokers to receive 320% of their trailing-12 production over four years, including 170% upfront in cash.
Co-head of wealth management business warns of tough second quarter but says firm is content with its hiring, compensation and technology strategies.
As firms wrestle with effects of their recruiting cutbacks, they parse ways to stimulate productivity through ‘organic’ growth.
Firm’s 2017 compensation plan would have reduced production credits to advisors buying books from retiring colleagues.