Skip navigation

WFA compensation changes?

or Register to post new content in the forum

102 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Nov 21, 2009 10:34 pm

Danny boy, I love you!

Nov 26, 2009 11:34 pm

Danny doesn’t call the shots…Stumpf does. And don’t you guys forget it. You work for a bank now and they don’t want to pay FAs who they think are already overpaid any more than you are already getting! You are now giving up approximately 70% of your gross (don’t believe me? pull up your snapshot report) to work for the all-powerful universal bank model. Ticket charges and minimum commissions are taking money right out of your pockets and WFC thinks you are lucky to work for them because they are a financial powerhouse. woohoo.  Now you hang on the hopes of a paltry payout of funds that basically tie you and your clients to the firm for 10 years so they are free to do whatever they want to you and you’ll like it? Stumpf is determined to show you what the real world is all about and he is only getting started. Ludeman only hopes Stumpf’s arm doesn’t go too far up his ass when they are performing their act. He’s put in a job application with Jeff Dunham as he seems much more gentle with his puppets.

I know for a fact that WFC thinks none of us has the guts to leave and they hold all the cards.  In their opinion we’re lucky they “saved us” in the first place.
Well…I’m off to a much better place  and I wish my bretheren who still buy in to that load of BS about creating the greatest firm to ever exist the best of luck. 

Dec 6, 2009 9:13 am

Sounds like a lower payout on the first amount gross up to $10k is on the way... !?!!

Dec 6, 2009 2:18 pm

Ok it sucks, that’s a given repeated again and again.

  But, beyond going indy, where is it better?   Seems to me it sucks everywhere. It's just a degree of suck.
Dec 6, 2009 6:22 pm

[quote=Gaddock]Ok it sucks, that’s a given repeated again and again.

  But, beyond going indy, where is it better?   Seems to me it sucks everywhere. It's just a degree of suck.[/quote   Doesn't the comp plan usually come out earlier than this?  Along with the 25% tax which in our branch has never been discussed, it just seems like things are awfully quiet.
Dec 6, 2009 7:18 pm

if there were to be comp changes, they would have announced them by now.  It’s just rumor mill working overtime. 

I think the 25% w/holding is a bigger issue!
Dec 6, 2009 9:59 pm

[quote=shredder]if there were to be comp changes, they would have announced them by now.  It’s just rumor mill working overtime. 

I think the 25% w/holding is a bigger issue![/quote] Brought up the 25% to a few guys and none even new about it, actually did not believe it until we searched the system to find the old two line notice somewhere.  Think they are just leaving it for everyone to notice it on their own once the checks start coming in next year.  Whole thing is a joke.
Dec 7, 2009 2:27 am

[quote=Gaddock]Ok it sucks, that’s a given repeated again and again.

  But, beyond going indy, where is it better?   Seems to me it sucks everywhere. It's just a degree of suck.[/quote]   Stifel and RayJay seem like much better options.  Each has thier drawbacks, but at least it doesn't seem like you have to worry about having a company actively work against your success.
Dec 9, 2009 12:57 am

[quote=shredder]if there were to be comp changes, they would have announced them by now.  It’s just rumor mill working overtime. 

I think the 25% w/holding is a bigger issue![/quote]   25% witholding, and a lower payout -- a nice kick in the chestnuts, Merry Christmas....   At least the forefront issue seems to be behind you.
Dec 9, 2009 3:29 am

no lower payout, except the haircut on CAAP

Dec 9, 2009 10:18 pm

I heard some scuttlebutt from a person I know and trust.

  The managers are anticipating that net will be 22.5% down from 25% on the first $10k each month.   Word is it will be announced in the AM tomorrow.
Dec 10, 2009 12:05 am

Our complex MGR said he had the word that the payout was getting cut on the first 10k hurdle. Done deal.  What cuts might be next?  They won't be happy till we make the same as the 35k bank tellers. Well, we do have advisors already in that realm in our office and they need a little push out the door. Over 20 advisors in my office and the top 5 carry the whole office.

Dec 10, 2009 12:14 am

Asked our BM today point blank about comp and he said there would be no change.  Would find it laughable they announce a cut the next day.

Dec 10, 2009 3:10 am

I find it hard to believe that they would change the comp this late in the year.  After reading the Reg Rep ratings I can’t think that they would really be that stupid.  BOM was locked behind close doors this afternoon, don’t know whether it was one of his 9000 conf calls, he was just in a sh*tty mood (more than ususl) or something more dark but, I’ll ask.  Gotta think it is just rumor.  Plan B is locked and loaded, just it case.

Dec 10, 2009 3:11 am

[quote=Gaddock]I heard some scuttlebutt from a person I know and trust.

  The managers are anticipating that net will be 22.5% down from 25% on the first $10k each month.   Word is it will be announced in the AM tomorrow.[/quote] it's 24% on the first $10k
Dec 11, 2009 12:09 am

Here is your answer…22% on 1st 10k. Fundsource may get a 10 bp haircut later in 2010. this will be out b4 friday is over.

Dec 11, 2009 1:13 am

tdude - you are wrong about fundsource

Dec 11, 2009 1:37 am

bp…note the word “may” get a haircut.

Dec 11, 2009 2:30 am
Ferris Bueller:

[quote=BE PATIENT] tdude - you are wrong about fundsource[/quote]

Hey welcome back sodomite.

Agree with FB.  Also you are a Loser, you are either a liar or the biggest idiot on the board, probably both.
Dec 11, 2009 2:57 am
tdude:

Here is your answer…22% on 1st 10k. Fundsource may get a 10 bp haircut later in 2010. this will be out b4 friday is over.

Did your BOM 'announce ' the comp plan?