Morgan Stanley pushes advisers to boost revenue in 2020 pay plan -sources

Morgan Stanley told financial advisers on Tuesday that they could be paid less if they do not generate more revenue or get customers to sign up for comprehensive financial plans next year, people familiar with the bank’s 2020 compensation plan said. Morgan Stanley made several changes to the incentive structure, including its 16-tier “pay-out grid” that determines what percentage of fees and commissions brokers get to take home. Anyone generating less than $5 million in annual revenue will have to deliver another 10% to reach the payout they received in 2019, according to material reviewed by Reuters. …read more

Source:: Yahoo Finance