Woodbury reps set to cash in: recruiters
August 23, 2012 by Bruce Kelly, Investment News Management to double down on bonuses for reps at former Hartford Financial B-D; 'world of difference' A number of Woodbury Financial Services reps and advisers will soon see a cash mini-bonanza. This comes after the announcement last month that the retirement business and broker-dealer arm of American International Group Inc. was buying the firm. According to industry recruiters, many of the 1,400 Woodbury reps have recently been approached by management to discuss deals commonly known as “stay” or retention packages. The terms are essentially a doubling of a stay bonus that many reps received in the spring, recruiters said. Giving reps stay bonuses while a broker-dealer was on the block was considered highly unusual at the time but also a smart way to keep brokers from leaving before a...
