Merrill Lynch announced it will not make significant changes to its advisor compensation plan for 2025, according to Co-Head Eric Schimpf. During a recent internal call, Schimpf reassured advisors that key elements such as the core cash payout grid, deferral rates, and banking bonuses will remain unchanged, according to AdvisorHub.

Tim Shook, head of Advisor Strategic Programs and Performance, and who has been involved in Merrill's compensation strategies for over 25 years, stated that the 2025 plan demonstrates the firm's dedication to consistency, transparency, and simplicity. Merrill's advisors welcomed 5,500 new households in the third quarter, and 96 percent of advisors have improved their production compared to the same period last year.

The decision to keep changes minimal reflects Merrill's strategy to appease veteran brokers and enhance retention. Similar moves have been made by Merrill's competitors, including Wells Fargo and Morgan Stanley, as they seek to retain top talent in a competitive market.

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