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.”
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
