Wells Fargo Joins Ameriprise At Top Of Transition Comp Peak – Who Will Follow?

In an AdvisorHub article posted earlier this month, it was reported that Wells Fargo had, “…raise(d) the maximum ceiling on cash deals, often in the form of nine-year forgivable loans, to 340% from 325%.”  By bumping up its numbers, Wells Fargo moved their package offer directly in line with another competitor, Ameriprise.  For the better part of 2020, Ameriprise has enjoyed the position on the top of the heap with transition packages around/slightly above 340%.

Comp moves often trigger jockeying by others, with many national BDs preferring to stay in a pack with their competition.  Ameriprise’s outlier position for much of this year opened up doors  as they added 99 advisors in 3Q2020 alone.  With Wells diving in, the question becomes who else will join the lead pack?

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