The firm’s new bonus program works in addition to the firm’s current incentives for advisers, in which bonuses are predominantly based on a growth in client assets and fee-based business, according to published reports.
2007 Focus on Growth will allow for bonuses of 10%, 20% and 30% of commissions and fees earned over the prior 12 months. This production-based incentive plan, therefore, offers reason for advisers to increase all business but, according to published reports, advisers must continue to grow their fee-based work.