Thread regarding Wells Fargo & Co. layoffs

Ameriprise is disciplined and metrics based. People don’t last very long there unless they really, really produce. And yes, they do pay significantly less than Wells and they also get far more out of those dollars.

Nobody ever said that the people go with the sale, but those that do will learn what they’re made of. It’s the difference between the broad U.S. pay scale and the pay bubble in San Francisco.

Ameriprise Financial is a boiler room sweatshop. Might just keep the Wells Fargo legacy rolling right along on track.

Of the four, Ameriprise would seem to be the most logical buyer of WFAM, having acquired most of Columbia Management, BofA’s asset management arm, in 2009. However, Ameriprise’s status was in doubt Friday, as some people familiar with the matter say the diversified financial services company has dropped out of the WFAM process

• Barrons

Wfam is not the same as Wells Fargo advisors just to clarify seems like no one understands that. Very few employees

This was expected. Many more LOBs will be sold as we aid our regulators in resolving the Wells problem. Too big to fail, merge or acquire, with an unbroken track record of corruption represents a huge issue to the banking system. Need to cut the industry’s problem child down to a manageable size.

Only Ameriprise has an asset management business. Please stop instilling fear in people with your misguided predictions of everybody losing their job.

WFAM in revenue is less than 5% of Wells Fargo on average. All of the WFAM employees are going to find themselves out of jobs. All 4 of these buyers either have massive overlap with their existing asset management holdings or will strip expenses to bare bones. Ameriprise pays peanuts compared to Wells Fargo. At minimum, pay will be a lot lower over time if you survive at all.

Wow! What percentage is this of the entire business? (wells fargo as a whole)

The other two firms are GTCR and Reverence Capital Partners