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Is Advisor Compensation Surging?

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Given Your Experience in the Bank Channel and Your Region, Which of the Following Would Be Most Profitable?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Are You Happy Where You Work?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Has the Number of Calls From Recruiters ...


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

What is Your General Impression of the Advisor Population at Banks in Your Territory?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

How Did Your Commission-Based Product Mix Change?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

How Does that Compare to the Previous Year?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

What Proportions of Advisors at Your Firm Made the High End of the Grid in 2010


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

How Much of Your Business is in Fees?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Has Your Bank's Cross-Sell Initiative ...


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Where Cross-Sell is Part of Your Compensation, has it ...


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

How Did Your Commission-based Product Mix Change?


Green: 2010

Blue: 2009

Is Advisor Compensation Surging? Is Advisor Compensation Surging?

Is Advisor Compensation Surging?


Advisors in general are back in the pink, making more money, gathering more assets under management and generally feeling upbeat about their prospects.


According to a survey conducted by Bank Investment Consultant advisors last year sold a whole lot more mutual funds, ETFs and other equity-linked products, while continuing to increase annuity sales. A trend toward more fee-based income and away from commissions continued; and many more advisors were making the high end of their grid. Recruiter calls were way up as more of them offered signing bonuses.


In 2009, by contrast BIC's annual compensation survey of financial advisors in banks and credit unions indicated clear signs of distress. Only 18% of respondents said they were selling more ETFs, equities and mutual funds, for example—an indication that customers were still afraid of stocks. And nearly half reported that they had earned less than in 2008.


A year later, nearly half of BIC's survey respondents (48%) say they are selling more mutual funds, ETFs and equities, and only 19% say they earned less in 2010 than in 2009. "Payouts and the total income of advisors have been rising, and that's 100% because of the improvement in the market," says Rick Rummage, founder and CEO of The Rummage Group, a recruiting firm. "Clients are feeling better, reps are feeling and acting more optimistic."


Check out the following slides for a closer look.

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