Small Producers at Advisor Group Won’t Get Retention Bonuses
August 7, 2019 By Diana Britton, WealthManagement.com Details have emerged about the broker/dealer network’s retention packages, which include five-year lockups for advisors with over $600,000 in production—and nothing for sub-$250,000 producers. Diana Britton | Aug 07, 2019 Private equity firm Reverence Capital Partners completed its acquisition of independent broker/dealer network Advisor Group last Friday, and the firm has started to offer retention deals to some of the network’s 7,000 advisors. There are three components to what the firm is calling its Advisor Appreciation Program, the first being a cash award to all advisors with over $250,000 in production and who have been affiliated with Advisor Group for at least year at the close of the sale to Reverence, according to a source familiar with the program. Advisors with $250,000 to $300,000 in production will get...