More work, same pay has been the story for branch office managers over the past decade. It took a tragedy among his ranks to help one Wells Fargo manager find personal value in an increasingly difficult job....
The world of the brokerage office managers and their equivalent peers in the bank-based investment offices are similar in most respects but one: Happiness....
It’s no secret that many branch managers feel their firms now view them more as “costly overhead” rather than as talented coaches and leaders who can greatly benefit their firms’ bottom lines. ...
Add one more winner to last week’s blockbuster LPL-Fortigent deal: the rapidly growing business of providing outsourcing services to wealth managers....
A legacy branch manager with Wells Fargo Advisors on the East Coast—let’s call him Joe—says he hasn’t had a raise in his base salary in more than a decade, despite the fact that revenues at his branch have increased tenfold, and he is now doing “about seven times the amount that I did back then.” ...
I am very fortunate as a financial advisor to have an amazing group of clients I work with each day. I consider it an honor to have been given this responsibility by the households I am responsible for; helping people invest for the future is my life’s work and the relationships I have now with clients mean a lot to me both professionally and personally. But it was not always thus....
Joseph L., a 60-year-old veteran rep in New York says, for years, he had planned to retire at 63, soon after his youngest child finished college. Alas, the market pummel took a beating beginning in 2007 and his 401(k) plan took one along with it. Joseph has awakened to the fact that he could still be working at the ripe age 70...
What a heck of a summer. In August, Mr. Market behaved like a schizophrenic. Such volatile conditions, no doubt, cool clients’ ardor for risk. For most, the challenge of merely keeping their clients calm takes precedence over seeking greener pastures at other firms. ...
Advisors need to get in front of the volatility. Develop a recovery strategy for clients, contact them proactively, press them for new prospects, and expand your own social activities for prospecting possibilities. ...
A few years ago, when Chuck Goldman sold his highly-successful automotive plastics business based in Leominster, Mass., for tens of millions of dollars, Rob Cotter— producing manager of a Wells Fargo Advisors branch in nearby Worcester—wasted no time going after him. But it wasn’t Goldman’s account he wanted; he already had that. ...
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