November 25, 2024
Louis Diamond Quoted
By Andrew Welsch
UBS increased a bonus for client growth; eligible advisors can earn up to 4.5% on compensable production, according to a person familiar with the matter. That may be a way for some advisors to offset potential pay cuts elsewhere in the 2025 compplan.
But all things being equal, some advisors may end up seeing a slimmer paycheck next year. That could prompt advisors with smaller books of business to join a competitor, according to recruiters.
“With any comp plan changes, there are winners and losers, but this is the first one where I think the best you can say is at least I didn’t get hit too hard,” says Louis Diamond, president of recruiting firm Diamond Consultants.
