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Rating:Two Boston Fund Firms Alter Wholesaler Comp Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 23, 2010

Two Boston Fund Firms Alter Wholesaler Comp

News summary by MFWire's editors

John Hancock Funds and MFS Investment Management have implemented changes to wholesaler compensation, InvestmentNews reports. The changes are aimed at encouraging diversification in the funds sold by wholesalers.

In Hancock's case, it has taken an unspecified chunk of wholesalers' bonus pay and placed it into a discretionary pool linked to the number of funds an advisor owns and the number of broker-dealers the wholesaler deals with, according to the report. The change took effect this year.

For its part, MFS also embarked on a move to encourage wholesalers to increase the number of advisors they work with.

The program has been in place for a couple of years now. In the past, it made up 5 to 10 percent of wholesalers' compensation; recently, it has risen to the 25 to 30 percent range, the report stated. 

Edited by: InvestmentWires Staff, 

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