Thread regarding Wells Fargo & Co. layoffs

A year after scandal, claims of sales pressure linger at Wells http://www.charlotteobserver.com/news/business/banking/article170791647.html

by | Post ID: @P4SZiIl
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4 replies (most recent on top)

Good luck in prison.

by | Post ID: @P4SZiIl-8eaa

They always will be pushing sales. Now Business Banking pushing C&I loans. They are not relationship Bankers they are transaction lenders. You don't just go out and try to sell every product to a business. You have to be a a true lender that can analyze a business and offer products that will help the customers business to grow. That lender has to prove themselves to the customer via excellent service and be their expert on their fiancial needs. Then once that is accomplished the customer will be dedicated to that lender and that is when cross selling begins and then new customers will seek the lender. No need for Business Developers finding customers. True lenders find their own new customers based on expertise and reputation. It takes time and not monthly goals. Wells Fargo has longtime employees and managers that do not know the difference of transaction Banker versus a Relationship Banker.

by | Post ID: @P4SZiIl-2uxo

What will happen is that bank managers are still forcing bankers and tellers to sell at least 5 products a day and if they can't then they will get poor ratings and the entire account scandal will rear its ugly head again. WF lied when they say that by changing compensation schemes that it'll all be fixed.

by | Post ID: @P4SZiIl-1raf

OK, and nothing will happen - so, let's stop with this nonsense

by | Post ID: @P4SZiIl-1pnu

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