How to Set Up a Motivating Bonus Plan for Your Team
By Helen Modly, CFP, CWPA, and Sandra Atkins, CPA/PFS
Horsesmouth Essential: Compensation incentives for both staff and advisors can greatly influence your firm’s client acquisition and retention efforts. While the purpose of an incentive plan is to reward the behavior you want, a well-designed plan also shifts some of the compensation risk to the employees.