A financial bonus for living close to work?

As financial advisory firms compete for talent, they’re not only offering higher compensation to new recruits, but also luring them with creative benefits.

Halbert Hargrove, a firm based in Long Beach, California, offers advisors a relocation bonus, which rewards employees who live within a 20-minute commute from their office.

The benefit supports work-life balance, and helps the firm encourage its workers to cut down on the drudgery of driving in Southern California traffic, says Cecilia Williams, the firm’s chief compliance officer.