Commission pay and pay calendar question

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Oct 24, 2011 7:00 pm

Anyone here besides Wells Fargo advisors having to wait 6 weeks for comission pay? Wells does this twice a year. For the life of me I cant understand why they cannot pay on the same days every month like the 1st and 15th? The pay calendar is inconsistent and makes it difficult to automate paying bills. Also I dont get why they need to hold commission for 6 weeks 2 months out of the year.  I know some other firms may go 5 weeks some months but 6 weeks seems too long to have to wait to get paid.

Oct 25, 2011 11:41 am

That must be something they picked up from Wachovia Sec....they used to do that all the damn time. The only reason being, IMO, is that they can. And, they probably make money  by holding it an extra 2 weeks. i know it sucks, i was with Wachoiva for almost 3 yrs.