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.
JUN 14, 2007
By  Bloomberg
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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