I'm being heavily recruited to leave Bank of America and go to Wachovia Securities. It's depressing to see how well the Wachovia program is set up. I remember when it had a bunch of awful brokers with the disastrous First Union name attached to it. They've really taken off the last few years in terms of technology, managers, and advisors. A former Bank of America rep had a $75k month at Wachovia and he was STILL 10th guy from the top in his region. They don't lose any of their top advisors, either.
Anywhere but BAC. It is a great retail bank; everything else is crappy.
There are mass exits on the Private Banking side.
There are mass exits on the Private Banking side.[/quote]
How come? I thought it was just on their brokerage side. BAI.
Thy keep changing the comp plan and not favorable to the F.A.
Forcing the Team concept; PCA PCM without regard to personality or performance.
Management changes after Fleet merger and bad managers in general.
I’m speaking of the bank channel of Wachovia. The brokerage channel (which is basically the old Prudential) is doing fine, I think.