The most ridiculous things WFA tells brokers to get them to sell bank products

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Sep 4, 2011 8:30 am

1) Some of your colleagues have lost key households to UBS and Morgan Stanley because they oferred lending solutions to complement the investment portfolio.  (so make sure you at least talk to all your clients about lending)

2) If your client is getting a re-fi, it is REALLY important that they work through you.  Otherwise, BofA (or someone else) will get access to your clients personal financial data and "trust me" that will lead to a call from one of their financial advisors.

3)  There are only a few firms that have the scale to really compete: MS, BAC, and WFA - we'll see about UBS - but bekllow that the next 6 or 7 firms likely won't exist in their present state.  Without the resourses of a large bank they just won't be able to maintain competitive growth rates.