Barbara Herman Quoted
By Susan Konig
Any forward-looking year-end wish list is usually a diverse lot of aspirations and hopes. But an informal survey of several branch office managers this year turned up just one: “I think no matter whom you ask, every manager’s main wish would be for more equitable compensation,” said a BOM for an east coast office of 30 advisors.
“There’s some ironic truth in that,” says Barbara Herman, senior vice president of Chester, NJ-based Diamond Consultants, of the manager’s statement. Nevertheless, she say, it’s not likely to change any time soon. “We’re simply facing a whole new economic reality. Jobs and pay in the financial services industry have been cut dramatically across the board,” she says.