by Patrick M. Kelly | Mar 28, 2014 | Compensation, Financial Recruiters
Financial advisor recruiters are finding that top advisors are being more selective when considering a career move. It’s no longer all about the compensation. Instead, “equity and career growth” are the focus. “They want to be stretched and challenged, and they want...
by Patrick M. Kelly | Dec 16, 2013 | Compensation, Merril Lynch
Bank of America Merrill Lynch is planning to reward brokers who team up to help clients with financial planning. As part of the Merrill’s 2014 compensation plan, which was rolled out to some 14,000 advisors last week, the firm is adding a Merrill Lynch Client...
by Patrick M. Kelly | Jul 31, 2013 | Compensation, RIA
[pullquote]Is the RIA profession entering a golden era? Sounds gushy, but it might be true.[/pullquote] “Increasingly, investor mindshare and wallet share are moving into the space as people turn away from the commission-based model in favor of a fee-based one that,...
by Patrick M. Kelly | Jul 22, 2013 | Compensation, Financial Recruiting Industry
“The recruiting deal rubber band has been stretched out as far as it’s going to go, and the reason circles back to advisor demographics.” This prediction, according to Mark Elzweig, who heads a New York-based executive search firm focusing on the asset...
by Patrick M. Kelly | Jul 3, 2013 | Compensation, Financial Advisors, Financial Recruiting Industry
HSBC has taken a bold move that many in the industry have long considered unthinkable: it has put all of its financial advisors on salary. Their rationale?? “HSBC made the switch to align the compensation structure for advisors in the U.S. with those in the rest of...
by Patrick M. Kelly | May 27, 2013 | Bank Advisors, Compensation, Financial Services Industry
Recent data from Kehrer Saltzman & Associates reports that only about one in four advisors (24%) are paid based on their production in the current month, down from 58% who were paid that way in 1997. Today almost half of advisors (48%) are compensated based on...
