BAC vs. Wachovia

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Apr 21, 2006 7:59 am

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.

Apr 21, 2006 10:09 am

Bank channel or brokerage channel?

Apr 21, 2006 11:54 am

Anywhere but BAC. It is a great retail bank; everything else is crappy.

There are mass exits on the Private Banking side.

Apr 21, 2006 4:43 pm

sounds like you’ve answered your own question.

Apr 21, 2006 5:16 pm


There are mass exits on the Private Banking side.


How come? I thought it was just on their brokerage side. BAI.
Apr 21, 2006 5:33 pm

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.

InferiorTrust products

Apr 21, 2006 9:48 pm

I’m speaking of the bank channel of Wachovia.  The brokerage channel (which is basically the old Prudential) is doing fine, I think.