While advisor compensation as percentage of total expenses was down compared to last year’s survey, we note there is a mix shift to higher levels overall. As we observed last year, our survey shows the largest cohort in the income distribution is the $100,000-$249,000 range, with 35% of advisors, followed closely by the less-than-$100,000 group, with 30%. However, both of these groups are a smaller percentage of the total compared to last year, and we note an increase in the number of advisors making $500,000 or more.
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