Our “Peer Review” Competitive Edge
What sets Phoenix Partners apart is our steadfast commitment to our employees and ensuring they have the state-of-the-art technology and collegial support to give clients the best and most honest execution possible. The standard brokerage firm model is to pay bonuses based on fixed percentages of production with no provisions for reward or punitive action based on formal review processes. This approach encourages a “dog-eat-dog” culture where brokers invariably put their own interests ahead of both their clients and their colleagues.
At Phoenix Partners a substantial portion of the bonuses our brokers earn is determined discretionally through an ongoing peer review process. Before bonus payouts are determined, our brokers undergo an anonymous peer review process that measures various critical areas such as teamwork, interpersonal skills, and co-operative trading support. To guard against bias and favoritism, our peer reviews are independently overseen by a noted New York corporate psychologist Dr. Gary Hayes using measurement standards and methodologies used by successful Fortune 500 companies. Phoenix Partners’ management must also undergo a peer review process.