UBS launches bonus plan to boost assets
UBS has launched a bonus plan for its brokerage business in the US to attempt to boost its market share, according to a Reuters report.
The plan gives brokers the ability to receive a bonus of up to 0.1% of net new client assets. UBS also said it will pay branch staff up to 0.03% of total assets raised by an office.
The scheme is on top of existing UBS compensation plans and gives advisers rewards for selling any number of investments, compared with product-centred campaigns of most rival firms.
The report said the move was designed to help UBS compete in a fiercely competitive market.
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