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The COVID-19 pandemic may be the catalyst for the biggest change in advisor compensation since the trend in AUM-based compensation accelerated about 20 years ago.

According to a new report from the Aite Group, the current crisis may force advisors to shift from a focus on AUM-based compensation to one that also includes advice-based compensation. That would more closely align compensation with the services that advisors provide such as planning, college savings, health care, debt consolidation and budgeting, and somewhat insulate volatility in compensation from the vagaries of the market.

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