Andy’s “Growth Grid” has to be looking really bad again this year. I wonder how much of his pay will be penalized/clawed back?

At this point, I'm pretty sure that a good portion of Andy's bonus is based on bank products. He's managed to stay under the Board's radar with the worst attrition Merrill has seen since 2008. But it was also Moynihan's decision to replace the great Krawcheck with the average Thiel and then with the awful Sieg.

Coming from someone who does what I do, being square in the middle of this kind of exodus of talent and experience is almost unbelievable. It's amazing that certain people still have jobs at this juncture, even if they have just been following orders from their overlords. At some point, scapegoats will be sacrificed and if that doesn't work, shareholders may step in and eliminate those responsible for this debacle. I must admit my own bias in hoping that does not happen too soon.

So Operation Thunder hasn’t stopped the exodus? Shocking. Salary + bonus coming.

I don't think any firm has enough clout to impose a salary + bonus comp structure onto its advisor force at this time, but Operation Thunder is definitely beginning to look like something on the level of Jimmy Carter's disastrous Operation Eagle Claw in 1980.

Salary plus bonus may indeed be coming for future advisors, but isn't coming for the existing advisors. This bas been predicted for about 20 years now.

Yeah, the whole "salary & bonus" mention is well passed tired. It will not happen. Stop trying to make it.