First Priority For Raymond James: Stop The Morgan Keegan Defections

Tuesday, January 17, 2012 09:45
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First Priority For Raymond James: Stop The Morgan Keegan Defections

Tags: Raymond James

Now that the future of Morgan Keegan as a firm has been decided, new owner Raymond James needs to boost morale among the 1,000 advisors it just bought. 

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CEO Paul Reilly is geared up to offer up to $215 million in retention bonuses -- maybe $200,000 per advisor -- to keep them.

 

Naturally, they really want the top producers to stay, so the bonus pool will probably not be allocated evenly.

 

Some advisors looking for a change may be out the door no matter how much their new corporate overlord offers. And some less-than-stellar advisors in the Morgan Keegan stable may be afraid to leave on any basis other than "feet first."

 

The advisors are being folded into Raymond James & Associates, so all will have to move their clients to the new relationship in any event.

 

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