Morgan Stanley has raised production-range thresholds for financial advisers to take home the same percentage of fees and commissions that they are earning this year.

The move, which is expected to affect more than 15,000 brokers, is part of the company’s 2020 compensation plan.

Part of the company’s strategy to generate more revenue, the new plan has increased the revenue threshold for advisers generating revenue below $5m by approximately 10%.

However, the threshold remains unchanged for advisers who generate more than $5m in revenue annually.

Financial Advisor IQ quoted Morgan Stanley Wealth Management field management head Vince Lumia as saying that the new comp plan “is focused on rewarding growth that will be achieved by deepening relationships, adding new clients and delivering a standard of care to all of your clients.”

Additionally, the plan involves providing incentives to advisers, who target wealthier customers and increase their asset books.

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Moreover, households will be paid less if they are either not registered in a comprehensive financial plan or have assets and liabilities less than $100,000 with the bank as per the revised plan.

The plan will also offer four percentage points, an increase by one point than in 2019, to the advisers if the assets of the clients reach certain targets.

Commenting on the move, Tasnady & Associates compensation consultant Andy Tasnady told Reuters that Morgan Stanley’s new 2020 compensation plan could affect about half of its network of advisers.

“They basically raised the heights of all the stairs. If you do the same thing you did last year, there will be many people who get a payout that is one step lower.”