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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Wirehouse Comp Plans Are Complex for a Reason

Posted by Barbara Herman

Financial Advisor-IQ

Barbara Herman Quoted
By Thomas Coyle

In recent weeks, the four biggest retail brokerages all updated compensation plans for the 53,000 or so financial advisors who work for them. Most of the tweaks concerned bonuses, and though they differ in the details, experts say they are alike in one vital respect: They’re hard to follow.

“Complexity is a fact of life with these plans,” says Barbara Herman, a senior headhunter with Diamond Consultants. “It can take weeks for advisors to understand them.”

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About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

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