“However, UBS didn’t alter the deadline for advisors to meet their new individual revenue thresholds.”
“Under the 2020 comp plan, advisors must generate $100,000 more than they did this year in individual revenue production — or $300,000 — to qualify for a payout rate of 30%. In an example in the higher range, advisors must generate $2 million more in individual revenue production — or $12 million in 2020 — to qualify for a payout rate of 50%.”
“Meanwhile, an entire team must generate $6 million in revenue production to qualify for a payout rate of 48% — higher than the $5 million requirement for 2019. At the same time, to get that team payout rate, each member of the team must meet a $1.2 million production threshold, up from $1 million currently.”
Now add a layer of protocol exit to the above and it correctly spells s-t-u-p-i-d-i-t-y.
Speaking to several recruiting heads at rival firms – we received messages like ‘LOL’, ‘Silly on several levels’, ‘plunging below 6k advisors in 3,2,1’ – it is open season on UBS advisors. And you can bet they deserve to cash in.