Wachovia Licensed Financial Specialist

[Tomfromtheshade]

I wanted to know if anyone here has ever been a licensed financial specialist for Wachovia Bank?

My fiancee is looking to change professions and work closer to home. The local Wachovia branch is always trying to recruit me, but I have always politely declined their offers. It seems that they can't get anyone in their branch to pass the series 6 and series 63.

If anyone knows what the salary is like there, the commission structure, benefits, or any of that type of information please share it with me so I can help her decide if it is something that she wants to do.

 

[xrac]

AG Edwards was probably the best wirehouse in the business in my opinion. They were acquired by Wachovia and basically dismantled. Now Wachovia has went down the tubes. It is a sad senario for the former employees of AGE.

Wachovia Corp, the fourth-largest U.S. bank, on Tuesday posted an $8.86 billion second-quarter loss, slashed its dividend and announced the elimination of more than 10,700 jobs after losses tied to mortgages soared.
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http://news.yahoo.com/s/nm/20080722/ts_ ... 9IgolZ.3QA

Wells Fargo has acquired Wachovia. More recent news is that there will be no retention bonus for Wachovia reps. This means that many brokers will leave. Wachovia Securities LLC of St. Louis will be renamed Wells Fargo Advisors, beginning in May. Locally Wachovia is advertising for newby brokers. I think they anticipate a large turnover.

http://www.investmentnews.com/apps/pbcs ... /902209940

 

[LGilmore]

"It seems that they can't get anyone in their branch to pass the series 6 and series 63."

Danger will robinson!

the 6 and 63 ain't that hard. I would be very aware of my surroundings. That's not a positive sign.

 

[Freddie]

"It seems that they can't get anyone in their branch to pass the series 6 and series 63."

Danger will robinson!

the 6 and 63 ain't that hard. I would be very aware of my surroundings. That's not a positive sign.

LOL! The 6 and 63 are not that hard. Didn't Wachovia but A.G. Edwards? The one poster mentioned St. Louis where AG and Ed Jones are HQ'ed. AG was one of the better full service brokers.

 

[Tomfromtheshade]

The only reason that I am looking into it for her is because she is looking for a change of scenery. Her commute now is an hour each way. Wachovia would be a five minute commute. The base salary is $45,000 which is exactly what she is making now processing mortgages.

Do you know if they hold you captive there?