WFA compensation changes?
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[quote=Gaddock]Wow … NO I repeat NO pay cut this year. Not only that I got over $10k in bonus, 3% of gross, money due to growing my business more than 15% for the year. So few brokers did nobody talked about it.
Yep it sucks but it sucks less than like firms. On top of the regular payout I've gotten well over $80,000 in bonuses this year. If I can get to $450k gross in 2010 I'll get it again.[/quote] Wow. A year 3 trainee with 340 t12 equating to about 140k gross pay with another 80k in bonuses........You are the Messiah!!!! BTW, what planet are you currently on?[quote=Stifel Nation] Or they can join Stifel Nicolaus and get 25% on the first $8000 and 50% on anything above that. Oh and no 25 basis point haircut on fee based. Oh and no splitting sales credit with the bond desk. How about no ticket charges. I’m sure I’m getting annoying now, so I’ll stop.
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UBS nothing to firm on PMP (PIM,GPM,PSPM etc FA managed)
AND team gross COMBINED on grid.
[quote=Bud Fox][quote=Gaddock]Wow … NO I repeat NO pay cut this year. Not only that I got over $10k in bonus, 3% of gross, money due to growing my business more than 15% for the year. So few brokers did nobody talked about it.
Yep it sucks but it sucks less than like firms. On top of the regular payout I've gotten well over $80,000 in bonuses this year. If I can get to $450k gross in 2010 I'll get it again.[/quote] Wow. A year 3 trainee with 340 t12 equating to about 140k gross pay with another 80k in bonuses........You are the Messiah!!!! BTW, what planet are you currently on?[/quote] You know Bud, I just don't get why you can't accept that some have success. If you find this hard to accept wait until next year. If you really want to know the recipe I'll send you some of the trade lists my software creates. Maybe that will make you a believer One never knows.I guess you missed my point. But yeah, you have my number. I just can’t seem to post any real production like yourself and I would give my left nut to have software like yours to generate trade lists so that I could be a rainmaker like you.
If you want a few lists to look at I'll be happy to send them to you. I've posted in great detail the rules I use for each trade and how to calculate the probabilities.
Besides that, I'm not going to engage in caustic posts anymore. A new year thing.Did anyone else notice what a kick in the pants the 25% withholding was? I haven’t heard any discussion yet about the pay change. My check was about $800 less than it would have been at Wachovia. –
The couple who noticed in our place were pissed. Think 90% dont know what has happened yet. From talking to the WFC bank brokerage side this is not an issue for them. So WF Advisors welcome to your new life.Did anyone else notice what a kick in the pants the 25% withholding was? I haven’t heard any discussion yet about the pay change. My check was about $800 less than it would have been at Wachovia. –
beyond rediculous.....300M+ employees and you cant figure out how commission works....WFA must have take a lot of crap over only giving 100M to Haiti...i see they upped it today to 350M, a little short of Jeffries 7.5MM
I just checked my paycheck for this friday and WTF! I am missing $1,200 bucks and thats after I raised my deductions to ten. All I can say is this is fu$%ing G@y…
Any other way around this guys? Will this last forever or end after the merger? I didn’t pay much attention to it until it hit my f***$ing pocket…
You can up your deductions on the draw, but the 25% w/h on your commission is firm and you can't change it. This will only be a minor inconvenience until 2011. I'm sure that you understand. One of the largest banks in the world just gets a little confused doing all of that math....or could they be trying to force out the lower producers...naw, that would be mean. Here's another way around it. Hit the door. Preferrably, go w/ some large producers in your branch and make them feel it. Vote with your feet.I just checked my paycheck for this friday and WTF! I am missing $1,200 bucks and thats after I raised my deductions to ten. All I can say is this is fu$%ing G@y…
Any other way around this guys? Will this last forever or end after the merger? I didn’t pay much attention to it until it hit my f***$ing pocket…
Forefront mess, bi weekly pay, 25 percent witholding. What a croc of sh*t of a company
I already called and complained about the 25% thing. I have 8 exemptions and I always receive a federal refund as it is now they are taking 1800 more per pay out for federal. I was told by someone in payroll that this will be changed. They have received thousands of phone calls on this matter. My advice to you is call payroll and complain. Submit a complaint on excellance first. They have to change this. The only people the doesn’t effect is somone making 60,000 a month. I only make 30,000 a month and it is killing my net pay. That 1800 pays my house and my car.
I agree. I think that is what they want. The Finet arm is more profitable to the firm.
I am awaiting my Forefront check and then I am on my way to Finet. You have to earn it and take it under the same channel.
Can you take the forefront and leave to finet? I am assuming it’s still a 9 year handcuff.
Yes you can go to Finet after you receive the check. In fact you can qualify for forefront at Finet. I plan to use the 50K they are paying me to pay my office expense the first year at Finet.
Have you already requested the transition? Can you tell me the process? Is there any information in infomax on finet?
I have not officially requested the transition. I didn't want to delay the Forefront pay any longer.