Financial advisors working in banks and credit unions are likely to be paid on the basis of their production over the past six or 12 months, marking a dramatic shift in how advisors are compensated, according to data from Kehrer Saltzman & Associates.
Only about one in four advisors (24%) are paid based on their production in the current month, down from 58% who were paid that way in 1997, the study found. Today almost half of advisors (48%) are compensated based on their average production over the previous six months (24%) or the previous year (24%), payout structures that were not used in 1997, according to the firms recent survey of compensation practices.
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