New research from Kehrer Saltzman & Associates explores howthe compensation plans of financial advisers at credit unions andbanks stack up.

In its 2014 Advisor Compensation Plan Survey Report, theCharlotte, N.C. based-firm said it did side-by-side comparisons of63 current compensation plans representing 48 banks and creditunions.

The data showed that in addition to the fixed cash-flow, payoutgrids fell into two broad categories: monthly and annual, saidPeter Bielan, a principal at Kehrer Saltzman and author of the report.

It seemed the larger firms tended to pay their advisers on anannual grid, while smaller firms tended to pay on a monthly grid,Bielan said.

The average payout at $400,000 annual production was 37% forfirms using an annual grid and 40% for those firms using a monthlygrid, according to the data.

Almost two thirds of the plans in the study paid some form ofenhanced payment for fee based business, Bielan said. The amountspaid were quite significant, with some in the 40% to 50% range forfee based business, he added.

The financial advisers covered by the compensation plans accountedfor about 40% of all advisers working in the financial institutionsacross the country, according to Kehrer Saltzman.

The research showed base salary and draw amounts, payout ratesand their corresponding production levels. The study also revealedthe effective payout rate to advisers inclusive of salary, and thespecial incentive components used to drive fee-based business,insurance and increase productivity.

The credit unions and other industry entities that participatedin the study include:

• CUNA Brokerage Services in Waverly, Iowa
• $1.3 billion Elevations Credit Union in Boulder, Colo.
• $1 billion Eli Lilly Federal Credit Union in Indianapolis
• $8.2 billion Golden 1 Credit Union in Sacramento, Calif.
• Navy Federal Financial Group, a subsidiary of $55 billionNavy Federal Credit Union in Vienna, Va.
• $4 billion Patelco Credit Union in Pleasanton, Calif.
• $1.5 billion Premier America Credit Union in Chatsworth, Calif.
• $2.3 billion Teachers Credit Union in South Bend, Ind.
• $2.1 billion Texas Dow Employees Credit Union in Lake Jackson, Texas
• $4 billion United Nations Federal Credit Union in Long Island City,N.Y.
• $4.9 billion VyStar Credit Union in Jacksonville, Fla.
• $1.8 billion WashingtonState Employees Credit Union in Olympia, Wash.