Wells Fargo Advisors

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Apr 22, 2009 11:10 pm

Parent company stock almost to $20.

Rolling out branding in May.

Loving the new grid, actually making more with it than before.

Done about 45 plans, earned almost 200K for 4front. Was easy to do.

Other companies like ML and UBS laying people off, not us.

Glad I stayed. Naysayers can suck my c()CK.

Apr 22, 2009 11:37 pm

very mature with that lastwork getting around the filter.

Apr 23, 2009 8:16 am

Ferris-

  While I agree about the grid (so far more money) and envision plans (they are easy).
I would cool it on the layoffs.  They are coming.  Both advisors and staff in the branch.  They are working on reorganizing the regions from 12 to 6.  That means layoffs at those levels too. 

  While I am not a naysayer I do appreciate the facts.  If you do not believe mine, then check with your RP or Complex/Major Market manager.  They were on the call when Jim Hayes announced it.

  Layoffs are coming.  Just a heads up.  Like so many other things with this company the question is when are they coming. 

Apr 23, 2009 10:20 am

Glad you are happy Ferris.

Apr 23, 2009 7:25 pm

Ferris- you are a fool.


Parent company stock at 20...give me a freakin" break.  Means WB is worth 4 bucks.  60 to 4!! you might be happy but it ain't because of the great stock price performance

Apr 23, 2009 9:12 pm

WS is a big wirehouse and is competition with big wirehouses.  If the competition is cutting it wouldn't seem a stretch to think that WS would cut too , arguing that it's needed to to be competitive.

 
Cutting advisors seems about as smart as moving to a global banking model but what do I know?
Apr 23, 2009 10:50 pm

Loving the new grid, actually making more with it than before.
*******************************************
What are you talking about with new grid? Did you get some special deal or something? Grid aint changed and when it does its guaranteed not to be for the benefit of the FA's. You didnt earn any money until they pay in Sept. Think they will pay that easily? And Wach is getting set to start firing under 250k producers from what I am hearing.

Apr 23, 2009 11:11 pm
3rd ID:

Loving the new grid, actually making more with it than before.
*******************************************
What are you talking about with new grid? Did you get some special deal or something? Grid aint changed and when it does its guaranteed not to be for the benefit of the FA's. You didnt earn any money until they pay in Sept. Think they will pay that easily? And Wach is getting set to start firing under 250k producers from what I am hearing.

 
Wasn't the average production at AGE about 275K when WS bought them at the top of the market.  No way the average AGE is anywhere north of 200K the past 12 months.  If they do cut 250K it will get rid of over 1/2 of their brokers...I say nothing is done until Jan 2010.  My guess is if anything is done its to guys under the hurdle, 10K/mo, so 120K.  Support staff, productivity managers, sales managers, trainees will all go before anyone doing over 120K will at WS is my guess.
Apr 23, 2009 11:21 pm

Not to mention that most of the 2000+ AGE brokers that left were the 250+ crowd...% wise I think the 300 under crowd makes up most of what is left at legacy AGE now.

Apr 24, 2009 3:45 pm

The WS grid versus the old AGE grid, pays much better. I guess you'd have to have 50K+ months to know that
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Ok, I'm WS, not not legacy AGE. My avg monthly last year was 48k. Grid at 37%

Apr 24, 2009 4:31 pm

Really? Is that a fact? Our branch all the big guys left while sub 300k stayed. Please stop ttalking out of ur ass

Apr 24, 2009 4:56 pm

What a douche

Apr 24, 2009 7:47 pm

Scale and scope

Apr 27, 2009 8:52 pm

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

Apr 27, 2009 9:03 pm
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
ISG or PCG?
Apr 27, 2009 9:20 pm
fritz:
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
ISG or PCG?
 
The only surprise should be the low bogey.
Apr 27, 2009 9:26 pm
maddog:
fritz:
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
ISG or PCG?
 
The only surprise should be the low bogey.
 
Are you joking?  That would be 250K if you annualized it.  Based on two very low fee quarters..Office would 2/3 empty.  If thats PCG  4000+ would be gone out of 10,000.
Apr 27, 2009 9:30 pm
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
so unless a trainee is not doing double the requirement, they are gone?  maybe t12 of 125, but not t6.
Apr 27, 2009 9:33 pm
fritz:
maddog:
fritz:
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
ISG or PCG?
 
The only surprise should be the low bogey.
 
Are you joking?  That would be 250K if you annualized it.  Based on two very low fee quarters..Office would 2/3 empty.  If thats PCG  4000+ would be gone out of 10,000.
 
I am assuming that's based on t12, Fritz.  But, even on a $250k annualized that is nobody in our office. 
Apr 27, 2009 9:35 pm
Sam Houston:
scbroker:

RM says that any FA with 4 years LOS that does not have 2009 production of 125K by June 30 will be terminated. FA training program in serious jeopardy.

 
so unless a trainee is not doing double the requirement, they are gone?  maybe t12 of 125, but not t6.
 
Sam,
 
Not trying to be a smarta**, but at los of 4 - is a rep still considered a trainee?