Wirehouses Roll Out ’13 Comp Plans
After getting feedback from top advisors, Morgan Stanley said in December that it will share a new stock-ownership plan with reps in 2013.
BofA-Merrill New Comp Plan: Good News, Bad News for Advisors
“There is a revision to the bonus plan that could make it actually harder to earn the initial amounts,” said a compensation consultant.
Bank of America had net income of $340 million, or $0.00 per share, in the third quarter, compared to $6.2 billion, or $0.56 per share, in the year-ago quarter.
BofA Earnings Beats Estimates, but Advisors’ Sales Slow
As bank sees plunge in profits from last year's Q3, the number of Merrill Lynch advisors drops by one from the previous quarter to 17,533.