In an effort to boost profitability, Morgan Stanley plans to adjust its compensation structure.   Beginning in 2012, brokers will have to generate commissions and other revenues of $300,000 in order to avoid pay cuts.  Currently, their minimum threshold is 250,000. The plan includes bonuses aimed at giving financial advisers more incentives to bring in new clients and increase lending to customers.  The changes may bring down the division’s compensation ratio as President Greg Fleming seeks to achieve CEO James Gorman’s goal of a pretax profit margin of more than 20% at the unit. Compensation costs amounted to 62% of the global wealth management division’s net revenue in the first 9 months of the year, down from 63% in the same period of 2010. Planned Payouts. Brokers who produce less than $300,000 will receive a payout of 20% of that revenue, instead of 32% or 34%.  The average annualized revenue per adviser in the third quarter was $747,000.  The firm also is changing the makeup and vesting schedule of bonuses for employees who have been with the firm a minimum of 5 years. Financial advisers’ bonuses based on revenue production will be reduced by 1% point across the board.  Brokers can earn as much as $442,500 under new bonuses that pay as much as 0.40% on new client assets and 0.50% on new mortgages and other loans sold to customers.  [BusinessWeek, 10/25/11]