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Article: Bonus plan stirs pot at AIG's adviser unit; Giant FSC branch shown the door amid turmoil, confusion.(News)
- Article from:
- Investment News
- Article date:
- September 7, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bruce Kelly
AIG Advisor Group Inc.'s move to dole out retention bonuses to assuage the 6,000 or so brokers who have remained loyal through the tumult of the past year appears to be too little, too late, or simply too binding for some advisers.
Details of the package are sketchy, with representatives and advisers saying management has informed them that they could get anywhere from 2% to 10% of their previous year's fees and commissions, known as a broker's "trailing 12 in the industry.
AIG Advisor Group appears to be very selective about which brokers will receive the bonus, with low-producing brokers getting little or nothing. ...