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Bank Does the Unthinkable: HSBC Moves Its Financial Advisors from Commissions to Salaries
FinancialPlanning; free registration required 
July 1, 2013 "HSBC made the switch to align the compensation structure for advisors in the U.S. with those in the rest of the bank ... But observers suspect that there are other reasons for the shift. Some say the desire to more closely align client and advisor interests may have prompted the change. Without commissions, the fear or perception that advisors are 'spinning accounts' or suggesting products and services merely to increase their production is removed[.]" |
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