Time to change up the model in WIM. Numbers looked like cr-p today no matter how they try and spin it. We are wasting an extraordinary amount of $$ on trips to Markets for So l and minions. Too much inflated salary on “sales” people. Jesus Christmas advisors don’t need a failed advisors telling them how to sell the products. Market Leaders are compensated way too much and if you know a C Suite executive you too can lead a Market.
Please look at the model and realize it is not working.
Alternative investments are primarily proprietary in nature and are not included in fee-based accounts. This creates a significant revenue stream for the firm, allowing them to compensate the advisor while retaining the majority of the earnings. SG requires this revenue to account for his shortcomings in leading WFA.
Why are they trying to push alternative investments so hard? I understand it is a diversified growth vertical, etc. but management acts like alts are going to be the future of investing, which it is not. Alts are growing in both visibility and accessibility, but at the end of the day it will always be a niche
Well they just hired a Head of Transformation or something like that; it was on LinkedIn...so maybe changes are afoot...
I would like to have the same relationship manager which did not read the plan document for the Seminole Tribe Trust. I would like to be charged tons and tons of knowingly incorrect fees. That is the best business plan for moving forward
Yes, the top management has become increasingly corrupt. Many of the technology directors currently occupying WIM positions have come from JPMorgan over the past two to three years.
Robinhood is for people with $500 not $500,000
Definitely need to invest in a real brokerage app and attract 20-40 year Olds and beef up self investment platform. Others blow current tech away and these youngsters are tge wealth of tomorrow. Youth goes to robinhood, not wf
Efficiency ration is garbage for WIM
So what would you do?