Wells Fargo Advisors WBS/branch based advisor - Financial Advisor Wells Fargo Employee Review

This is by far the worst company on the planet. I worked in the branch as an FA and they take 12.5% on refereed business from a licensed banker, why? I have no idea probably to pad the earnings. Everything you get is from referred business so if you’re on a 25% pay grid they take half of your earnings. If you do a trade under 100k they take 90% of the commission so if it’s referred to you, you actually pay them to write business under 100k. I did 35k in revenue one month and after they took all their deduction I ended up owing them 600 dollars... unbelievable. Do not work here for any reason you will be penniless and desolate to get out. Oh and another kicker it’s the most unethical company on the planet (I know big shocker). I’d have bankers telling me which investment a prospect wanted to do without me even speaking to them. If you take a job with them after reading this then you deserve the pain they’re going to give you.