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Booyahh, landed hedge fund number 2 for IPOs.
Wells Fargo merger news. What’s it mean?
Best technology to use that LPL has?
Is it me or did they just scrap the DOL law?
What is your go to watch in the office?
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Good luck. I’d think twice. I did this. The hurdles you have are big. You get a reduced grid bc you are in the bank. The bankers don’t refer business because you are taking from them. Banks are also understaffed so most won’t have a preferred banker to refer you business. Retail bankers also don’t understand what we do so they won’t refer either.
I moved from another major firm, managed to work the system and gather over $100mm in assets from the bank. It’s a grind, but you will be prospecting outside the bank. If you are a strong prospector, look elsewhere where they pay you for those efforts.
Plus side: Wells Fargo is extremely unorganized. You can do whatever you want and there are no repercussions.
Thank you for your insights. $ 100mm that’s pretty good! How long it took you to get there ?
Send me a message and I’ll share my experience.
Will you please let me know how you’ve been compensated initially if you had a book to bring over to Wells Fargo? They did not want to give me incentive package but just 48 month grid pay out at 35%, min pay for 12 month of current W2 income which will be decreased if not achieved goals of 10mm 20 mm and 30 mm AUM for 18 mo 26 mo and 48 mo consecutively and if achieved then a differed bonus of 15 bps will be paid. Thanks
Thank you your feedback is important to me. It’s all good advice!