Is financial advisor incentive compensation an underutilized tool in driving business results? Arthur Osman, principal at Kehrer Bielan Research & Consulting, believes that is indeed the case within bank broker-dealers. He argues that advisor compensation is one of the most underutilized instruments in driving key business outcomes.
Incentive compensation, by definition, is designed to incentivize results. Yet, for many firms, there seems to be a disconnect between strategic business priorities and how management uses this vital tool to support these objectives. There are many reasons behind this misalignment, and it’s not necessarily due to a lack of awareness or effort; rather, it’s frequently the execution of advisor compensation design ideas. While managers desire to implement new or modified advisor compensation structures, they often are held back from executing these changes due to accounting logistics and technology limitations.
As a leader, you cannot let compensation execution be the roadblock to driving behavior and business outcomes, whether these objectives are increasing sales of a particular product or driving profitability by focusing on advisory business. In order to achieve these goals, you need to influence the right behavior, which means you need to use the right incentive compensation plan features.
If this resonates with you, then check out our Fall 2022 Advisor Compensation Planning Webinar, Incentive Compensation: An Underutilized Resource for Driving Key Business Results. In this webinar, we’ll share insights into why firms fail to fully leverage advisor compensation planning and how this essential resource can be used to achieve your strategic business outcomes. Our featured guest speaker, Arthur Osman, has been a leader in the financial advice industry since 1996 as a financial advisor and in various senior leadership positions in the areas of sales management, recruiting, compliance, relationship management, and business consulting..
Things You’ll Learn:
- The vital role incentive compensation plays in meeting your business objectives.
- Insights into the latest benchmarking on top compensation program designs.
- How to identify and overcome the challenges in executing compensation plans.
- Ways to align and structure your compensation program with your strategic goals.
Join us on September 28 at 2:00 PM CT! Click the sign-up link below.