Business Planning

On Friday, hours after Wachovia Securities told managers that the firm’s financial advisors would not receive any retention bonus, Smith Barney and Morgan Stanley reps got some good news: Some extra cash is on the way. Top producers at both firms stand to receive as much as 105 percent of trailing twelve month production to stay with the joint firm. That said, the first of two payments won’t be available until 2010.

byChristina Mucciolo