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Michael Brodeur, Vice President of Broadridge Advisor Compensation Solutions, knows that advisor compensation management is about more than just advisor compensation. It’s also about a firm’s financial health.
Across the industry, advisor churn is climbing, head counts are declining and advisor loyalty is waning. A 2017 study by J.D. Power shows that year-over-year advisor satisfaction continues to decline. Nearly 17 percent of employee advisors indicate an inclination to leave their firm. And top-performing advisors are among the least satisfied.
In this article published in Investment News Michael examines three challenges and three compensation management solutions to keep valued advisors on board and broker-dealers more successful.