The Practice: Fees and compensation

Morgan Stanley’s New Comp Grid Zeroes in on Pulling in New Assets, Loans

December 1, 2022No Comments

The wirehouse made minor changes to bonus payouts and other elements, including an incentive to get sub-$250,000 clients to move more money to the firm.

SEC Whistleblower Program Needs a Revamp, Tipsters Say

November 29, 2022No Comments

One repeat whistleblower who sent the SEC tips about several firms later sanctioned by the regulator tells Bloomberg she stopped because she never heard back from the commission.

UBS Holds Line on 2023 Advisor Compensation: Memo

November 17, 2022No Comments

“Most advisors prefer no changes whatsoever unless you’re going to introduce a new bonus,” a compensation consultant said.

Hedge Fund Impactive Capital Readies for Proxy Fight at Envestnet

November 16, 2022No Comments

Activist investor Impactive Capital wants to improve Envestnet’s stock performance by slashing costs and pay, sources tell Reuters.

Merrill to Raise Grid Thresholds for Advisors: Reports

November 11, 2022No Comments

The higher thresholds determining core payout would increase for the first time since 2009, according to a source cited by Barron’s.

Fidelity to Offer 'Free' Retail Crypto Trades But with 1% Fee: Reports

November 8, 2022No Comments

The firm defines the fee as the spread between a customer’s execution price and the price at which Fidelity Digital Assets fills the order, according to Forbes.

Wells Fargo Being Pushed to Pay $1B to Settle Repeat Abuses: Reports

November 7, 2022No Comments

The firm is in confidential talks to reach an agreement that may also include restrictions on its business, according to Bloomberg.

Bonuses Fly Under the Radar of NYC Pay Transparency Law

November 4, 2022No Comments

A law that took effect Tuesday requires New York employers to list salary ranges for the jobs they advertise, but bonuses are not included. The omission puts minorities and women at a disadvantage, some say.

Morgan Stanley Tightens Advisor Terms for One Dual-Contract Platform

November 2, 2022No Comments

Advisors who bring in new clients but keep them in old products have 24 months to change allocations or accept a cut in compensation.

Wells Unveils New Comp Plan, Stresses Consistency

November 2, 2022No Comments

"This is a business where advisors want no surprises. They want stability," Sol Gindi, head of Wells Fargo Advisors told Barron's.