https://www.advisorhub.com/wells-fargos-elevated-broker-recruiting-offers-to-persist-in-2022/
5 replies (most recent on top)
Post ID: @1wua+1ekuXKhT
Say what you want - they are making more than you could ever hope to make.
FA is such a 1988 career path. How do they even still exist?
I think I opened my online SCHW account in like 1997....
It is the weakest firm by industry ratings. Plus they publically said they want to reduce costs by $8 billion. Running with a weak staff position means FA's need to do more paperwork.
https://www.fool.com/investing/2021/07/21/wells-fargo-is-making-progress-on-its-cost-saving/
This all started when the bank royally F'ed up and dragged the brokerage down with it. I feel it's starting turn turn around though.
It's not just the FA's either. I've seen traders leave and take their support staff including basically a whole tech department with them. They do it slowly, but over the course of a couple years they steal an entire team.
I am not at Wells anymore. But I'm working on the same team I worked on at Wells, minus all the dead weight.