Raymond James Financial Moving To Single Payout Grid
July 5, 2017 By Dan Jamieson, Financial Advisor In response to the DOL fiduciary rule, Raymond James Financial Services will be changing its compensation plan so that all production is paid off of one grid. The move comes at a time when many broker-dealers are wrestling with the issue of broker payouts in expectation that they will face more scrutiny in a post-DOL world. Some observers speculated that the switch to a single payout grid was designed to eliminate the perception of potential conflicts of interest. Next year, the independent contractor unit of Raymond James Financial will switch to a single payout grid that starts at 81 percent for trailing 12-month branch production up to $500,000, topping out at 90 percent at the $10 million-plus level. Depending on product mix and production, the changes could...