Raymond James delivered details of proposed retention packages to eligible Morgan Keegan advisers Wednesday.
According to Raymond James, the awards will be paid within two weeks of the closing date of the merger with Morgan Keegan. The company expects that to occur on or about April 1.
On Monday and Tuesday, more than 75 top advisers and management officials from Morgan Keegan will be visiting the Raymond James Financial headquarters in St. Petersburg.
Raymond James isn’t publicly talking about the retention payout details yet. One source told The Daily News, and a trade publication is also reporting, that advisers producing more than $1 million will get up to 70 percent of their trailing 12-month production as part of the retention payouts.
Advisers producing less than $300,000 aren’t expected to be offered retention payments. Advisers producing between half a million and $1 million will get up 50 percent; 40 percent for those producing between $400,000 and $500,000 and 30 percent for those between $300,000 and $400,000.