Some paychecks at RBC Wealth Management, U.S., may look different come next year.

Following an annual review, the Minneapolis, Minn.-based firm is rolling out several changes in its payout structure as it shifts focus away from a deferred compensation contribution model. A major difference, RBC says, is that advisors will be able to elect to receive their bonus as cash, tied to a forgivable loan, instead.

"On an annual basis, we review our compensation plan and may make changes based on competitive and strategic analyses, as well as feedback from our financial advisors and affinity groups," the firm said in an emailed statement. "A key highlight of RBC Wealth Management's compensation plan is flexibility-the shift away from the handcuffs of deferred comp contributions."

The firm expects that this provision will give a boost to retention- "a major focus of the firm"- by "helping [advisors] achieve compensation success and providing cash in tough economic times to those who choose that option," the firm's statement said.

Another measure confirmed by RBC was that payouts would be cut for veterans with 15 years or more of experience who have less than $350,000 in production.

"If the company wants to cut costs there are a lot of other ways to do it than take money out of the brokers' pockets," according to an RBC broker who wished to remain anonymous.

RBC said that the firm designs its compensation structure to "support and reward productivity, loyalty to RBC Wealth Management, and individual and team contributions to the firm's success."

"We are proud to offer a competitive and attractive compensation plan that reflects our productivity goals and our commitment to attracting and retaining the most talented advisors," the firm said in an emailed statement.

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