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In the News

Speculation Stirs Over Wirehouses’ 2021 FA Pay Plans

Posted by Louis Diamond

 

September 8, 2020
Louis Diamond Quoted
By Miriam Rozen

Planned hikes in production thresholds and other factors impacting wirehouse advisors’ pay got put on ice in response to the global pandemic earlier this year. But the thaw is on at some firms, raising questions about how compensation plans will look in 2021.

If past is prologue, Louis Diamond expects wirehouses to pinch almost all of their FAs’ pay next year.

“It seems like every year, there’s some sort of change. Sometimes they’re more far-reaching or impactful than others, but, almost always, there’s some sort of change, “ says Diamond, who is executive vice president and senior consultant at Morristown, N.J.-based Diamond Consultants.

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About Louis Diamond

President – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...

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