Upfront 140% to 175% (Plus deferred)
Recruiting offer letters issued after November 1, 2016 do not include recruitment incentives triggered by production, asset levels or other targets at UBS regardless of account type. Effective after June 9th, for purposes of all existing arrangements including those entered into prior to November 1, 2016, production for retirement accounts will be calculated based on the Retirement Account Production metric below:
Subject to minimum and maximum thresholds, the Retirement Account Production rate for each Financial Advisor is based on the 2016 revenues and average assets of their retirement accounts as of December 31, 2016 that were still open as of May 1, 2017. IRA account fees are excluded from the calculation.
This calculation also applies to determining compensation.
More details on Page 2:
Payout on upfront bonus can be structured as either a lump sum payment or amortized over several years.
- Wire Wars: Wells Hires Merrill Duos with Combined $4.5-Mln in TX, CA
- RBC Hires UBS Team with $1.6-Bln AUM, Managers from Morgan Stanley and Wells
- UBS Nabs $4.7-Mln Merrill Trio, BofA Private Bank Team on West Coast
- Morgan Stanley Hires $7-Mln Salt Lake Team from J.P. Morgan Private Bank
- RBC Hires Wells Fargo Brothers with $460-Mln Book in Massachusetts