RJ unit gives bonuses to big producers
To rev up its top reps and advisers, Raymond James is giving bonuses to its biggest-producing brokers.
In an effort to charge up its top registered representatives and financial advisers, Raymond James Financial Services Inc. is giving bonuses to its biggest-producing brokers.
In the style of a 401(k) plan, the new deferred-compensation program gives a bonus this year of 1% to affiliated reps who produce $450,000 in fees and commissions, a 2% bonus for $750,000 producers and 3% for reps and advisers who produce $1 million.
After that, the bonus, which will affect about 500 of the firm’s 3,600 reps, increases one percentage point for every additional $500,000 in production, topping out at 10% for reps who produce $3.5 million in fees and commissions.
That pushes those elite reps’ payout to 100% — or even more — of their production, according to the company.
For the full report, see the upcoming June 18 issue of InvestmentNews
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