Many b/ds offer their reps special perks and incentives beyond payout. Eighty percent of advisors said their b/d offers top-producer reward trips, compared to about 73 percent in last year’s Independent Broker/Dealer Report Card. About 73 percent receive commissions. Twenty-nine percent of advisors said their b/d offers performance-based bonuses, while 28 percent have signing bonuses. Some incentives were less traditional, according to the open-answer field in the survey. Several indicated their firms give out iPads to top producers. Other incentives included pensions, stock options and cost sharing regarding coaching expenses. One advisor said the firm provides “awesome brownies.”
Next: Do You Consider Yourself a Fiduciary?
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