Barclays changing basis of remuneration for U.S advisers

Barclays Wealth Window

Barclays is shaking up the way it pays its U.S. financial advisers, breaking with industry practice as the bank seeks to clean up its image.

MarketWatch reports that advisers at the Barclays Wealth & Investment Management division in the Americas will no longer get paid solely on how much money they bring in.

Going forward, their compensation could be docked for misconduct.

While the size of any such cuts remains to be seen, the new policy already has spurred some of the firm's roughly 275 U.S.-based advisers to look for jobs elsewhere, according to recruiters, and could make it harder for the firm to find new brokers.

Hit the link below to access the complete MarketWatch article:

Barclays Advisers' New Performance Metric: Their Behavior

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