Executives at Raymond James & Associates (Raymond James) have indicated to managers that there will be no compensation changes for the fourth year in the row, according to AdvisorHub.
Raymond James is one of the first firms to announce its plans for compensation for 2022. According to compensation consultant Andy Tasnady, many firms are expected to continue to adjust compensation only on the margins as the rebounding market alleviates pressure on senior executive to reduce costs.
Raymond James pays its employee brokers between 28 percent to 50 percent of the fees and commissions generated from customers according to a sliding scale based on production. The last broad change to advisor compensation was in 2018 when Raymond James reduced payout percentages. Raymond James also eliminated over 500 jobs in response to pandemic-related cost stressors.
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