OnWallStreet.com took a look at how much top firms pay their $1 million producers. The businesses generally reward such financial advisors with a combination of cash and deferred awards.
At No. 11 is Wells Fargo Advisors, with a total of $467,180. $459,680 is part of the cash grid, while $7,500 is deferred compensation.
No. 10 is Morgan Stanley, with $440,000 in cash, and $40,000 in deferred money, for a total of $480,000.
Merrill Lynch is No. 9, with $495,000 in compensation. Of that, $430,000 is the cash grid, and $65,000 is deferred.
At No. 8 is Janney, with $450,000 in the cash grid, and $50,000 in deferred money, for a total of $500,000.
No. 7 is RBC. Producers there get $501,800 in compensation, with $460,000 in cash grid, and $41,800 in deferred money.
Ameriprise Financial is No. 6, with a total of $505,000. Of that, $460,000 is cash grid money, and $45,000 is deferred compensation.
Two companies tie for No. 4 with $510,000 in compensation – Wedbush, with $500,000 in cash and $10,000 in deferred money, and Stifel, with $470,000 in cash, and $40,000 in deferred money.
At No. 3 is Hilliard Lyons, at $512,750. Of that money, $467,750 is cash, and $45,000 is deferred compensation.
No. 2 is Raymond James, with $522,500 in money. Of that, $455,000 is cash grid money, and $67,500 is deferred funds.
At the top of the list is UBS, with $526,750 in compensation. That breaks down to $437,500 for the cash grid, and $89,250 in deferred money for the No. 1 company.
Written by Lisa Swan