Yes expect Market managers, Rp’s etc to be caught up...too many making too much money and not doing much work and relying on Jr mgrs... this may hard hard for brokerage types to swallow b/c the world revolves around them—but they won’t see the bullet that is going to hit them..
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Unlikely because this was just rolled out last fall. The branch managers recruit and manage the financial advisors. They no longer have the burden of managing the client associates. The branch managers roll up to the market leader. Market leaders roll up to the regional president and these RP positions were just established last fall as wfa went through cost cutting because Jon Weiss likes to save money. I can only see the smaller branches combining with the bigger ones but there will be still a need for the branch manager and having the smaller branch managers become an associate branch manager is a waste of effort. This is pcg and these 3 levels of managers go all out to support and get things done for the FA. My FA buddies on WBS have managers that expect to be worshipped and are lazy.
It makes sense that Regional, Market and Branch Management should be culled with rest of the herd. This is a fine example that Wells has too many layers of overlapping bloated management. Way too many Chiefs and not enough Indians.