Broker compensation 2026

Compensation differences between wirehouses and regional firms become pronounced at the $2 million production level, with regionals rising to the top of the pay scale and wirehouses grouping together at the bottom.

When it comes to compensation, firms really start to distinguish themselves at the $1 million production level. Janney has become one of the lower payers in recent years, while RBC and UBS have signaled a greater willingness to work with these advisors.

For advisors with $600,000 in annual production, regional firms like Janney and RBC have been reducing their compensation in recent years. They're now more in line with the pay policies more commonly found at large Wall Street firms.

Most "regional firms" still have fairly generous compensation for advisors at the low end of revenue production. But at Janney and RBC, the pay rates are lower and much closer to those of large Wall Street firms.

Traditionally, regional firms were places where advisors with mid-level revenue production could find comfortable homes. Janney and RBC show how that's changing.