March 2007
On Wall Street;Mar2007, Vol. 17 Issue 3, p34
Trade Publication
The article discusses how securities firms pay their investment advisors. Pay scales are shaped by pushing to fee-based business and the effect of the overtime class-action lawsuits. Merrill Lynch has instituted a bonus based on production growth in its new "Focus on Growth" program that makes it possible for each advisor to reap awards of up to 30% on incremental production. USB has also built a growth-bonus feature into compensation for managers and advisors for bringing in net new money.


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