Compensation and Fees
What leading financial advisors, experts and firms are saying about compensation and fees for registered representatives (both independent and employee) and registered investment advisors.
Delegate the Jobs You Hate, Execs Tell Advisors
By Jeff BermanAnd if you'd rather focus on client service instead of dealmaking, "That's perfectly OK," says Penny Phillips of Journey Strategic Wealth.
January 13, 2021
Raymond James Trims CEO Pay 17% in 'Difficult Year'Chairman and Chief Executive Officer Paul Reilly's total compensation fell to $11.1 million in 2020, when the firm cut 500 jobs, from $13.4 million in 2019.
January 04, 2021
Ex-Rep Sues Morgan Stanley Over Deferred CompA broker says the firm wrongly withheld more than $500,000 from him when he left.
December 28, 2020
Revamped CFP Board Site Gets High Marks From PlannersThe Board says it will add more information in the future about how planners are paid.
December 16, 2020
Morgan Stanley to Roll Out 'Minor' Comp Changes for 2021Given its earlier "draconian cuts," the wirehouse doesn't "have much room to maneuver" next year, says recruiter Mark Elzweig.
December 14, 2020
UBS Leaves Comp Plan Unchanged for 2021Wirehouse likely wants to avoid defections, as its Americas advisor headcount was 6,353 as of Sept. 30, down 274 from a year ago.
December 04, 2020
Merrill Ends Advisor Payouts on Small AccountsBut the firm's decision to leave its comp grid alone stands as welcome news for advisors, consultant Andy Tasnady says.
November 24, 2020
Wells Fargo Loses Libel Dispute to Fired AdvisorAn arbitrator rules that Amy Webster is entitled to attorney's fees and expungement in a matter tied to sales of renters insurance.