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Wealth Management

Our wealth management team provides compensation intelligence to the largest global banks, as well as small regional and boutique organizations. We have a flexible framework that can be applied to multiple wealth management operating models in order to align with client business structures and the broad competitive landscape.

Global Scale

We have earned the position of trusted adviser to wealth management firms that strive to achieve industry leading performance through the holistic assessment of client team and operating model effectiveness. Our global team has expertise in every facet of wealth management. We understand the nuances between different business models within wealth management spanning bank, non-bank, investor, and affluent models and the implications for business economics and pay.

We work with wealth management firms globally to provide market-based guidance delivered through a global team of colleagues located in the United States, Europe, Middle East, and Asia to best support our clients with local expertise


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Comprehensive Compensation Intelligence for Wealth Management Firms

Our survey structure provides compensation data for our clients with relevant scoping factors. Our survey elements and scoping factors include:

Survey Elements
  • Base Salary
  • Cash Bonus
  • Commissions and Overtime
  • Long-term and Deferred Awards
  • Total Cash
  • Total Compensation
Scoping Factors
  • City and State
  • Onshore vs. Offshore
  • Client Segmentation
  • Incumbent Country
  • Operating Model

The compensation surveys serve as a foundation for our performance and advisory solutions that help clients identify recruitment and retention opportunities, manage costs, and define realistic business cases for change and formulate implementation plans.

We provide reports linking pay with critical performance factors that include comprehensive views of industry performance including revenues, expenses, advisor productivity, staffing, market share, and compensation at the most granular level. This very detailed, market specific information is actionable, not merely informative.

As a result, our clients use this unbiased information to set goals and ensure that their businesses maintain and improve competitiveness in each market and throughout their organization.

Compensation Intelligence by Client Segment

Our team has designed compensation surveys to address the unique pay approaches and pay levels observed across various client segmentation models. Wealth management firms globally continue to establish well-defined product and service platforms designed to meet the needs of each client segment, and in turn have structured distinct teams and roles to deliver those value propositions accordingly. Our wealth management surveys are designed to capture these differentials across the following segments:

  • Multi Family Offices & RIAs: Firms that serve the wealthiest families in the world
  • Ultra-High Net Worth: Firms that work with client investable assets greater than $25m
  • High Net Worth: Firms that work with client investable assets between $3m and $25m
  • Affluent: Firms that work with client investable assets of $1m to $3m
  • Mass Affluent: Firms that work with client investable assets less than $1m

Multi-Family Office Compensation Insights

We provide a specialized view for multi-family offices at the compensation levels for client team and support positions that serve wealthy families in captive or independent family offices in the United States.

Ultra High Net Worth and Affluent Compensation Insights

We provide insights on the competitive pay levels banking, investment , service and support roles with the unique capabilities to serve high net worth and affluent clients in the United States.

Operations Compensation Intelligence

We provide U.S.-based compensation benchmarks for various support positions found in the greater wealth management industry. The survey focuses on operations, technology, and support roles.

Brokerage Pay and Performance Intelligence

Our dedicated team of U.S. brokerage specialists provides a full suite of compensation and performance insights for each unique aspect of the complex U.S. brokerage market. In addition to compensation surveys that span the major national wirehouses, regional and independent brokerage firms, bank brokers, and investment centers, we conduct annual studies focused on benchmarking financial and field performance. Our field performance benchmarking studies address topics such as market share, branch costs and profitability, recruitment, and productivity by years of experience. Our clients use these studies to regularly monitor and track progress against goals, to identify leading and lagging performance indicators compared to local market competition, to set specific performance targets that form the basis for goal setting, and to calibrate pay programs to improve sales efficiency.

To learn more about our brokerage performance benchmarking capabilities, please click here.

Moving Beyond Pay: Market Intelligence and Insights

Beyond compensation surveys, McLagan offers a broad range of Market Practice Studies throughout the year. These studies provide clients with the deep industry knowledge and insights needed to maintain competitive position, drive organizational change, execute long-term business strategies and drive results.  Some of our Market Practice Studies specific to asset management and alternative asset management firms include:

  • Wealth Management Relationship Manager Pay and Performance
  • Wealth Management Business Development Officer Pay and Performance
  • Wealth Management Investment Expert Pay and Productivity
  • U.S. Private Banking Financial Benchmarking
  • U.S. Private Banking Client Team Sales Effectiveness
  • Private Banking Recruit Ramp-up Study for Hong Kong and Singapore

To learn more about McLagan Market Practice Studies, click here.

Survey Pricing, Access, and Support

Please contact McLagan for details on pricing.

Survey purchases include 24/7 access to the McLagan Client Portal. This puts survey results and insights in reach at all times.

All survey clients are assigned a dedicated relationship manager to provide benchmarking support during the survey input, position and employee level analysis, and access to webinars and roundtables where clients receive the latest in hot topics in the market and networking opportunities with industry peers. We provide a variety of rewards and compensation advisory solutions to assist clients with their compensation, performance, and talent strategies.