Financial institutions

Alterations include higher hurdles for cash pay, a grid stretch for deferred compensation and new bonuses.

Brian Truscott oversaw more than $330 million in client assets.

The new hires generated approximately $5 million in production before making the move.

The wirehouse is also tweaking pay related to cash solutions for clients.

Planners and experts dive into wirehouse pay, charging clients at a higher rate, emerging business models and other key issues.

The advisors know RBC’s Pittsburgh complex director from earlier in their careers, when all three men worked at Smith Barney.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.

As the Federal Reserve strives to help the economy, wealth managers’ revenue takes a hit.

It’s at least the second time in just a few weeks that the firm has sought to limit the expense of rewarding well-paid employees.

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