Industry moves continue for firms that remain a part of the Protocol for Broker Recruiting.
Tom Thives, who had been with Wells Advisors and legacy firms for 23 years, will oversee some 40 brokers in Florham Park and also try to expand satellite offices in Princeton and Ramsey.
Wells Fargo is offering recruiters a hefty 10% of a hired broker’s trailing 12-month revenue, up from about 6%, through the end of September.
Wealth and Investment Management head Jon Weiss says brokers go no incentives or compensation for “simply opening accounts.”
Credit card and savings customers may not be the only ones who were misled by Wells Fargo & Co.
After 20 years with wirehouses, broker disavows the employee brokerage model.
Arbitrators tell J.P. Morgan to rewrite termination notice to exculpate a rookie broker from charge of referring loan prospects to another bank, while a Wells veteran wins expungement of charge that he altered a customer’s record.
Justin Steers, who jumped earlier this month after 22 years with UBS, appears to have been welcomed back with open arms.
Wells Fargo & Co. paid Chief Executive Officer Tim Sloan $17.4 million for 2017, a 36 percent increase from a year earlier, as the bank struggled to free itself from a string of scandals.
Septuagenarian broker files arbitration claim after his Miami branch manager suggests he “start all over” after giving his accounts to his longtime partner following a 17-month medical leave.