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In the News

Wells Fargo Will Give FAs Bigger Rewards for a Warm Hand-Off

Posted by Barbara Herman

Barbara Herman Quoted
By Miriam Rozen

To boost its recruiting and retention efforts, Wells Fargo Advisors has announced that, effective April 1, it will offer more generous options for FAs on both sides of its succession packages — those retiring and those getting the retirees’ books of business.

Specifically, WFA will offer retiring advisors who commit to a warm hand-off of their book of business to remaining WFA FAs a loyalty award of 25% over their trailing 12 months production.

“Clearly Wells is recognizing some of the flaws in sunset programs out there,” says Barbara Herman, a senior vice president for New York-based Diamond Consulting.

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About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

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