Underperforming markets push distribution staff to doors as bonuses dwindle

Magellan AP Distribution Barometer

Dwindling bonuses are driving turnover across asset management distribution teams as underperforming public markets lead to contracted bonus pools.

According to Magellan Advisory Partners' Distribution Barometer 2023, decreased bonuses (30%) were one of the key reasons distribution heads across EMEA, APAC and North America expect departures from their teams. Hiring remains a candidates' market, with strong salespeople being approached for an average of three to four roles with competitive packages, another key concern for distribution heads (33%). The pandemic has brought many changes to the world of work, including an opportunity for staff to re-evaluate what they want from their careers. Both career breaks and retirement (10...