Training cost WFA

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Jan 11, 2011 5:10 pm

Has anyone recently left WFA (wachovia securities bank platform) voluntarily during the FAIT program for another competing firm? Will WFA come after you to recoup any training costs? If you follow protocol can they freeze your license because of a non-compete? Any experiences or insight will be greatly appreciated.  

Jan 11, 2011 5:18 pm

It depends on your local manager and if he wants to mess with you or not....

Jan 11, 2011 6:37 pm

Thanks Legend. I’m assuming by your reply that you feel it would be on a case by case basis. I have a good relationship with my manager(s). Do you think being upfront with WFA about my plans is the best way to go about the transition or just hand them a letter of resignation and wait for them to see the acats?

Jan 11, 2011 7:01 pm

Carefully read your contract. Firms are currently going after promissory cases that are under 20k.

Jan 12, 2011 10:02 pm

You are taking a big risk if you aren't getting upfront money from where you are going since they could come after you and disrupt your transition.  Move with caution.