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RayJay FA Comp Plan Unchanged for Fourth Straight Year

September 16, 2021
Louis Diamond Quoted
By Andrew Kessel

Raymond James executives have informed managers that the Compensation plans for the firm’s nearly 3,400 employee-channel advisors will remain unchanged in its 2022 fiscal year, according to a source familiar with the situation.

When compensation changes at broker-dealers, it’s rarely in a positive direction for the advisor, according to Louis Diamond, president of the recruiting firm Diamond Consultants.

“Advisors despise compensation plan changes since they are almost exclusively to the advisor’s detriment — lowered payouts or incentivizing cross-selling or certain behaviors the banks wish to see,” Diamond said.

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This post first appeared on Perspectives For Financial Advisors From Diamond Consultants, please read the originial post: here

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RayJay FA Comp Plan Unchanged for Fourth Straight Year

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