New Wells/Wachovia Grid?

or Register to post new content in the forum

10 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.
Sep 15, 2009 3:14 pm

Can anyone shed some light on the new Wells/Wachovia grid that was just announced?

Sep 15, 2009 4:36 pm
Stifel Nation:

Can anyone shed some light on the new Wells/Wachovia grid that was just announced?



 
It's not as high as Stifel's...
Sep 15, 2009 4:46 pm

Maybe I should read infomax more. The old/old/new grid. The old/new grid or is there now a new/new grid.



This could be bad

Sep 15, 2009 6:32 pm
Stifel Nation:

Can anyone shed some light on the new Wells/Wachovia grid that was just announced?



 
 
There was a new grid announced?  Was it in the 4front email?
Sep 15, 2009 10:24 pm

No new grid announced in PCG.  As far as I know, it is still: 1) WFA shaves off a few points on annuities and managed money, 2) take away comp on small trades, 3) charge you for all kinds of stupid crap, and then pay you 24% on the first $10K and then 50% after that.

Sep 16, 2009 1:09 am

WFA has a truly simple grid. I haven't heard of any changes to the grid itself.
Wouldn't be surprised if they change some minor things like ticket charges, etc.
The grid actually got better after the lower average production AGE FA's arrived. The move to 24% on the first 10k was a consolation to them.

Sep 16, 2009 12:19 pm

Simple grid - maybe but a rediculous amount of haircuts, zero payouts, charges etc.. 

 
"lower average production AGE FA's" - these kind of statements won't start any arguements.
Sep 16, 2009 8:34 pm
skillopie:

WFA has a truly simple grid. I haven't heard of any changes to the grid itself.
Wouldn't be surprised if they change some minor things like ticket charges, etc.
The grid actually got better after the lower average production AGE FA's arrived. The move to 24% on the first 10k was a consolation to them.



 
 
With the class action law suits putting the error account to rest I think safe to assume that the ticket charges are probably not legal either, so my guess is they go away.  Question is what happens to other things.  Hard to imagine the grid changes much, my guess is no more ticket charges and grid stays the same, maybe hurdle goes up 500.00 or so.
Sep 17, 2009 7:44 pm
fritz:
skillopie:

WFA has a truly simple grid. I haven't heard of any changes to the grid itself.
Wouldn't be surprised if they change some minor things like ticket charges, etc.
The grid actually got better after the lower average production AGE FA's arrived. The move to 24% on the first 10k was a consolation to them.



 
 
With the class action law suits putting the error account to rest I think safe to assume that the ticket charges are probably not legal either, so my guess is they go away.  Question is what happens to other things.  Hard to imagine the grid changes much, my guess is no more ticket charges and grid stays the same, maybe hurdle goes up 500.00 or so.



My guess would be a phase in of a higher hurdle slowly and lower deferred comp for under 500k production. As far as wirehouses go, WFA is highest in most production quintiles. Assume 50%+ fee based.

Sep 27, 2009 12:26 am

No new grids announced.....

 
First $10,000 production paid out @ 24%
 
Thereater @ 50% if trades qualify to meet minium commission levels.....
 
Equites min for payout $95.00
Fixed Income: $50.00
Mutual Funds $50.00
No payouts on Mutual Fund money market assets.
 
FA's bitching about minium commission levels and appling pressure on St. Louie to make changes.