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REP WealthManagement.com

What Branch Managers Want Most for the Holidays

[December 10, 2102] An informal survey of branch office managers across advisory channels finds one consistency in their wishes for a new year: Fair compensation. “Some branch managers are now underpaid for sure,” he continues.  “But, I think more are paid at least adequately. As firms cut their excesses of the past, people who were once overpaid are likely to now feel underpaid by comparison.” Of course, some managers disagree. “I love it when James Gorman says compensation in this industry is still way out of line (on the high end) with the rest of the world,” quips a legacy […]

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REP WealthManagement.com

Recruiters Divided over Compensation Disclosure Rules

[November 29, 2012] FINRA is once again putting the topic of broker recruitment packages on the table.  According to a notice the regulatory organization posted to its site yesterday, next month’s Board meeting will include consideration of a rule change that would require brokers to disclose details of their recruitment compensation packages to their clients if they were to move from one firm to another. Read more…    

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RIA Biz Financial Advisor News

Will FINRA knock out the “serial movers” and boost the RIA option in the bargain?

[November 29, 2012] FINRA is set to consider new rules that would lift the curtain on the terms and conditions of massive payoffs made by wirehouses to convince brokers to make a lateral move from another wirehouse. The rulemaker for stockbrokers is considering this ostensibly because brokers signing the deals may be motivated more by their own interests than those of clients — and clients may deserve to have more information at their fingertips to make that determination for themselves. The effects of such new rules are not welcome news to Mindy Diamond, president and chief executive of Diamond Consultantsof Chester, N.J. […]

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