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Life in Wells Fargo Bank Channel? Transition Bonus Flexibility?

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Jun 9, 2017 5:00 pm

Hello all; I recently recieved an offer from Wells Fargo in their bank channel as an FA (stand alone, high traffic branch). I'm a branch FA now with a top 10 national bank. My book is about $27MM and I did just over $260k in GDC in the last 12 months. Been a branch FA for two years, started with an $8MM book.

What's it like as a WF branch FA? Pros, cons, experiences?

Also, the transition bonus is 70% of my rolling 12 month GDC. Does hiring manager have room to negotiate? If so up to what amount? Would it be foolish to negotiate and at least request 90-100%?

I know what it's like working in the bank channel, but anything specific to WF or any constructive feedback would be appreciated.


Nov 18, 2019 5:54 am

Here are the important questions you need to ask about the branch:

How many of the bankers are licensed? Are they Premier bankers (more experienced and better at referring) or licensed personal bankers?

How much did the branch/bankers refer in 2019?

What other branches in your area don’t have a FA sitting there or could you get another branch.

I don’t know much about negotiating the offer. My understanding is there are two offers they give FAs coming in. One with a higher bonus, but they expect you to bring more over faster.

I’ve been with WFA in the bank channel for 6 years now. Had some great years and some bad ones in regards to the referrals. Some as high as 25 million and as low as 3 million. There are a lot of factors that go into it, and its really hard to know if you are getting a good set up or not.

Nov 22, 2019 9:17 am

As far as I have read, Wells Fargo Advisors turn over out its channel for registered investment advisors and become the first of the four wirehouse firms to do so.