Wealth Managers Jumping Ship to Avoid Disclosure of Signing Bonusesby Beecher Tuttle4 days agoFinancial advisers are rushing to switch employers before a new regulation requiring them to disclose signing bonuses kicks in. Once the new rule is in place – likely next year – wealth managers who accept six- and seven-figure signing bonuses at a new firm will have to disclose their windfall to clients.The details of the new regulation being developed by the Financial Industry Regulatory Authority in the U.S. aren’t yet clear, and FINRA declined to comment. Recruiters and wealth managers expect advisers to accelerate their job moves in the fourth quarter of 2013. “It will accelerate people moves for sure,” said James Cox, managing partner at Harris Financial Group, a Virginia-based advisory firm. “If you a recruiter, you could not have had a better situation. Advisers will try to jump in under the line.”

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