This document is a policy statement that defines the way an associate will be compensated for originating client business for the firm. It provides the percentage of fees paid to the associate, along with a "cap" amount in any given year. It also addresses carry-over amounts to the next calendar year and the issue of the associate leaving the firm.
King Washington Policy Statement on Compensating Associates Originating Client Business provides guidelines for the compensation structure regarding associates who have successfully originated client businesses. This policy ensures a transparent and fair approach to rewarding associates who contribute to the growth and development of the firm's client base. The primary objective of King Washington's policy is to motivate associates to actively seek out and secure new clients for the firm. This encourages business development, enhances revenue generation, and strengthens the overall success of the organization. There are different types of King Washington Policy Statement on Compensating Associates Originating Client Business, which includes: 1. Commission-based Compensation: Associates receive a percentage-based commission on the revenue generated from clients they have successfully originated. This incentivizes them to proactively identify and secure new client relationships. 2. Performance Bonuses: Associates may be eligible for performance-based bonuses in addition to their base salary. These bonuses are awarded based on predetermined criteria, such as meeting or exceeding client acquisition targets, demonstrating exceptional sales skills, or contributing significantly to the firm's overall growth. 3. Long-term Incentive Programs: King Washington may introduce long-term incentive programs to reward associates who consistently bring in high-value clients or achieve exceptional business development results over an extended period. These programs can include equity grants or profit-sharing arrangements, which align associates' interests with the long-term success of the firm. 4. Recognition and Awards: In addition to financial incentives, King Washington recognizes and appreciates associates who excel in originating client business. This can include awards, public acknowledgment, or career advancement opportunities, creating a positive and motivating work environment. 5. Regular Performance Evaluation: Associates' ability to originate client business is assessed regularly through performance evaluations. This ensures transparency and allows for ongoing feedback, coaching, and development opportunities. 6. Compliance with Regulatory Standards: King Washington emphasizes ethical and legal practices in client acquisition. The policy statement includes a section on adhering to regulatory standards, ensuring associates engage in responsible and compliant business development activities. By establishing a comprehensive and well-structured compensation policy, King Washington aims to attract and retain top talent, foster a proactive sales culture, and maintain a solid client base. The policy is designed to strike a balance between motivating associates to originate client business and maintaining the firm's financial stability and growth objectives.King Washington Policy Statement on Compensating Associates Originating Client Business provides guidelines for the compensation structure regarding associates who have successfully originated client businesses. This policy ensures a transparent and fair approach to rewarding associates who contribute to the growth and development of the firm's client base. The primary objective of King Washington's policy is to motivate associates to actively seek out and secure new clients for the firm. This encourages business development, enhances revenue generation, and strengthens the overall success of the organization. There are different types of King Washington Policy Statement on Compensating Associates Originating Client Business, which includes: 1. Commission-based Compensation: Associates receive a percentage-based commission on the revenue generated from clients they have successfully originated. This incentivizes them to proactively identify and secure new client relationships. 2. Performance Bonuses: Associates may be eligible for performance-based bonuses in addition to their base salary. These bonuses are awarded based on predetermined criteria, such as meeting or exceeding client acquisition targets, demonstrating exceptional sales skills, or contributing significantly to the firm's overall growth. 3. Long-term Incentive Programs: King Washington may introduce long-term incentive programs to reward associates who consistently bring in high-value clients or achieve exceptional business development results over an extended period. These programs can include equity grants or profit-sharing arrangements, which align associates' interests with the long-term success of the firm. 4. Recognition and Awards: In addition to financial incentives, King Washington recognizes and appreciates associates who excel in originating client business. This can include awards, public acknowledgment, or career advancement opportunities, creating a positive and motivating work environment. 5. Regular Performance Evaluation: Associates' ability to originate client business is assessed regularly through performance evaluations. This ensures transparency and allows for ongoing feedback, coaching, and development opportunities. 6. Compliance with Regulatory Standards: King Washington emphasizes ethical and legal practices in client acquisition. The policy statement includes a section on adhering to regulatory standards, ensuring associates engage in responsible and compliant business development activities. By establishing a comprehensive and well-structured compensation policy, King Washington aims to attract and retain top talent, foster a proactive sales culture, and maintain a solid client base. The policy is designed to strike a balance between motivating associates to originate client business and maintaining the firm's financial stability and growth objectives.
