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.
- UBS Recruits Bank of America Private Bankers with $2-Bln in California
- RBC Hires UBS Team in Virginia with $900-Million Book
- UBS Lands J.P. Morgan Private Bank Team with $75-Mln Production in Dallas
- Sanctuary Hires $5-Million Merrill Lynch Team in Walnut Creek
- RBC Scores $2 Billion-Asset Merrill Team in Chicago Suburbs