Behind Gender-Pay Disparity in Wealth Management: Too Few Female Financiers
You know the old saying in wealth-management circles “We eat what we kill”?
The expression makes me cringe. Sounds too predatory. So, for this column, let’s go with the light version: Revenue x percentage payout = dinner.
Percentage payouts are core to wirehouses, which pay reps about 40% of their sales. They are also core to registered investment advisers, including some who describe their compensation as “salary plus bonus.” Underneath the marketing exoskeletons, many RIAs still pay advisers about 35% or so of revenues year after year.
Read The Wall Street Journal article here.