With fiduciary rule in place, two broker-dealers cut adviser compensation
LPL is eliminating some bonuses, while Raymond James is trimming compensation in its employee channel for those producing more than $300,000 in revenue.
Two prominent broker-dealers are cutting bonuses and payouts to advisers, in some cases because of the Department of Labor's new fiduciary rule.
LPL Financial is eliminating a "general securities bonus" applicable to the volume of equities and fixed income securities traded by an adviser, according
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