First Priority For Raymond James: Stop The Morgan Keegan Defections


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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