Thinc Group is introducing a radical remuneration structure which offers financial advisers "a dignified exit from the industry" at retirement but requires those not bringing in enough annual revenue to change their status within the firm.
Speaking at the Thinc Group annual convention in Birmingham earlier this week, group distribution director Gregg Taylor told delegates the firm needs to adopt a more profitable and professional remuneration strategy as well as develop retained profit for the future, following its acquisition last month by life insurer Axa, More specifically, employees of the Thinc national and network will work under new business terms over the next three years which will require each adviser to generate at least £80,000 in gross revenue in order to be seen as contributing to the profits of the company. ...
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