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I am a Financial Advisor and I have been at Wells Fargo Advisors for 1 1/2 years and i want to leave to go independent

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Oct 8, 2011 4:00 am

I have been with Wells Fargo Advisors for over a year and a half. I have over $100k in gross production and would like to go independent.

I am concerned about the "New Financial Advisor Trainee Agreement/Contract."

Will i be sued if leave for the $55k? What if i want to take my clients with me? I hate how they are starting to shove banking products down our throats. If i wanted to sell banking products i would be in a bank. I am a financial advisor and not a banker. I feel like a slave and i am very upset with how the industry of financial advisors is changing at Wells Fargo Advisors. All they want you to do is focus on bringing accounts over $250k, and they are on you if you have not brought in $10 million in new money your first year. What are they thinking?!!!

I just read this contract and i forgot how they have so many things in there on how they can sue you if you leave, the no contact cluase, etc.

I want to leave and go independent and just work for myself and not have someone behind my back at all times wanting to know what i am doing all day every day, 7 days a week.

Is anyone in thos forum used to be with Wells Fargo Advisors and left during your first few years as a Financial Advisor with Wells Fargo Advisors?

Did any one from Wells Fargo Advisors call you? threatened you? Did Wells Fargo sue you?

If you left with no issues, what did you do? what is a good independent brokerage firm where you are and feel completely independent?

Your help is greatly appreciated.

Oct 10, 2011 3:28 pm


I doubt they will sue you, but you may have to pay back "training" fees if you have those clauses in your contract. And, I also doubt they will go "after you" if you take a few clients. That usually only happens when advisors take a large multi million dollar plus book with them. If you have a $100K in production, my BD can help you make the transition to independence. Depending on what  city you are in, we also may have an OSJ with office space available for you. Just PM me, if interested. Good luck to you.


Oct 11, 2011 2:10 am

Dude, you are already at wells fargo, why don’t you just go independent with wells fargo FINET???  Have heard they will easily let you switch over to that, and VOILA you are indy.

Oct 22, 2011 5:30 am

What bank products are they shoving down your throat? If you are a FA and work for Wells Fargo Advisors you can't open bank accounts. Check your paperwork you might actually be a licensed banker. 

Oct 23, 2011 5:08 am


To go to Wells Fargo Advisors FINET, you have to have a minimum of $300k in Gros Production.

I am a financial advisor at wells fargo advisors who used to be AG Edwards. I am not a banker. I have been in the banking industry and know difference very well. I dont even work in a bank, i work at a wells fargo advisors branch as a financial advisor.

Wells Fargo advisors, is slowly putting us to sell banking products such as credit cards, business loans, the checking account that is being forced on us to offer our clients is the Command Account, known in wells fargo banks as a cap account.

They are not just looking for advisors to do investments, but also pressuring us to find out what other needs clients may have such as mortgage, credit cards, business loans. These are things that we can now do and refer to the affiliates such as wells fargo bank, etc.

We now offer 3 types of wells fargo advisors credit cards, financial advisors can now take mortgage license and offer mortgages and get paid from it, we can offer a command checkings account which if assets are under $250k we charge clients $125 annual fee which is ridiculous.

The same thing is happening with Merryl Lynch.

Many wells fargo advisors outside the banks our arguing and fighting because they are loosing clients to financial advisors in the banks. The advisors in the banks can offer several benefits that we dont offer like a free cap account with assets of $25k or more plus includes 100 free trades. I cant offer that.

Also, the more i am in it, the more lies i can see have been told to me about products, services, training, costs, etc.

I honestly feel like a slave and i am not happy.

I would love to go independent but need to be very careful on how plan to leave. I have heard that many broker dealers can buy you out but then put you in a worse contract.

Nov 4, 2011 10:40 pm

Indpendent Capital Management is looking.  They're a B/D in Califonrnia and Nevada.

Mar 3, 2017 3:41 pm

@blank101 My company mentors financial advisors to entrepreneurial freedom. In short, we help financial advisors set up their own RIAs and learn to operate their own businesses. You don't need the big broker houses or big banks anymore and there's a much easier way of operating. You can operate your own business as a financial caregiver now with little overhead expenses nand build a healthy book of business that yields a 7-figure income. There's also an easy way to get around the contract and to transfer your clients into your own book of business. If you'd like we can get in touch and you can tell us more about your situation?

If you want to set up a phone call you can email me at - [email protected]

Hope this helps!

Jan 2, 2019 12:54 pm

I am working for Life Long wealth management group and there is no such issue.

Jan 8, 2019 4:44 pm

If you're interested in working independently, then please email me - [email protected]. I recently started my own financial advisory firm out of NY/CT and am willing to offer good compensation and equity (depending on how many clients are brought over). At Sirmium, we are value investors that offer our services very cheap for now (will go up moderately once we grow a little). Please reach out if interested.

Apr 22, 2020 10:55 pm

Please assist…Why would a person coming from a B/D (UBS) who went and formed a RIA ever go to an insurance/B/D model such as Mass Mutual?

Apr 22, 2020 10:59 pm

What questions would I ask Mass Mutual prior to joining if my primary aim is wealth management for individuals?