Joshua M Brown

The Wirehouse Response to Tough Markets? Overpay Brokers.

Markets are tough right now, even for the veterans. Clients are looking to stay in cash as the twin deities of diversification and buy-and-hold they used to worship have tag team-wrestled their hearts to the mat. Gross production is down, attrition is up all over The Street.

So how do the wirehouse brokerages respond? They pay record amounts for brokerage and advisor talent. Brilliant!