On August 10, 2009 By Karl Deeter In general financial newsWith 1 CommentTags: bank bonus, banker bonus, bonuses for banks, broker fees, executive pay The future of compensation in financial services (perhaps!)
This ball is firmly in the product providers court but there seems to be a total lack of interest, on their behalf, in building sustainable business/remuneration models that would have a positive effect to the end consumer. Market Share, at any cost, would appear to be their God.
Perhaps they are waiting for the Regulatory authorities to decide their fate, in terms of remuneration structures (as is currently happening in UK with pension/investment type business), so that they are not perceived as being the ones that ‘want’ change in this area.
The product providers can then ‘blame’ the Regulator if the new structures don’t sit well with the broker/advisor market.