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.”
