Incentive Contracts For Financial Consultants At Private Client Services Division Harvard Case Solution & Analysis

Paul Lui, the Executive President at the Private Client Services Division (PCSD), had the complex task of scheming a new inducement compensation system for monetary advisers at the wealth management division of a mid-tier financial services company that had limited resources compared to its larger rivals. Luil had many aims in your mind in designing the newest incentive compensation system: to inspire financial advisers to stay, perform, and excel; to bring new advisers to fill in the vacated places; and to generate new business in the face of labor shortages and major competition from larger firms.

How did the current compensation plan at PCSD compare to those of competing businesses? How could Lui alter the settlement strategy for PCSD, given the resource constraints his business faced as a mid-tier financial services business? Beyond settlement plans that are shifting, what could Lui do to quit leading producers from leaving recruit new experienced consultants; and more generally, improve the morale at PCSD?

PUBLICATION DATE: November 01, 2012 PRODUCT #: NA0172-PDF-ENG

This is just an excerpt. This case is about FINANCE & ACCOUNTING

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