08.13.24

Merrill Sweetens Payouts on Broker Sunset Programs

by: Mason Braswell and Karmen Alexander

Merrill Lynch is incentivizing veteran brokers to stay with the firm by raising the bonuses they can get for agreeing to pass their book to younger colleagues or sell a portion of their practice internally. From January 1, Merrill will raise revenue-based payouts on both its Client Transition Program for retiring brokers and Succession Planning Programs for brokers who want to monetize a portion of their practice but continue working. The changes will increase payouts by up to 50% in each program and also include other enticements for inheriting brokers. The changes come as roughly 40% of advisors industry-wide could retire in the next decade.

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