But the 10-digit figure shows how important big checks remain in recruiting retail brokers, despite the complaints of senior executives, said Alan Johnson, managing director of compensation consulting firm Johnson Associates.

“[Our] clients have always said that we really don’t want to do this, and then they do it as much as ever,” Johnson said. “It shows you how competitive the industry is. Firms want to attract good people, and they don’t want to lose the good people they’ve got.”

AdvisorHub / March 8, 2016