New-Financial-Advisor Training Program - Wells Fargo Advisors

New-Financial-Advisor Training Program
Every tool, skill and advantage
you’ll need to succeed

I’m proud that I started my career as a Financial Advisor
and that I understand the concerns and perspectives of the
Financial Advisors I now lead. I spent my rookie years at Wheat
First Securities, a firm founded as J.C. Wheat & Co. in Richmond,
Virginia, in 1934. Those early days on the job don’t feel like
yesterday – they were 30 years ago, after all – but they are
fundamental to who I am and to what Wells Fargo Advisors is.
I know from my experience that clients do business with people, not institutions. I believe
that the only way for a firm to become more client-centered is to be more Financial Advisorcentered.
Thus, our firm’s whole orientation is to empower Financial Advisors and provide
them with best-in-class resources and support.
From a personal perspective as well, I have a tremendous commitment to staying connected
to our advisors and support staff. No matter how big our firm is, Financial Advisors’ voices
will always be heard, and their views will always be given the respect and consideration they
deserve. In reality, we must be a firm that actively listens to our constituents and engages
them in a dialogue about our future together.
As you learn the tools of the trade, become certified as a Financial Advisor and move
forward in your new career, I hope you’ll always remember to put the needs of your clients
first and recognize your responsibility to your firm, community, colleagues and families.
As you do, you’ll find a supportive environment and likeminded leadership approach at
Wells Fargo Advisors.
Danny Ludeman, President and CEO
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A rewarding career
awaits you
There’s no denying it: Our work is a big part of our lives.
Where we work and what we do help define who we are. The decisions we make
about our careers have a major effect on our lives. Do you want to be in control
of your career and your life?
Do you want to help people achieve financial control over their own lives? As a
Financial Advisor, you’ll be able to help your clients achieve their financial goals,
such as retiring comfortably, passing on their assets to their families, providing
a quality education for their children, or selling a business and retiring early.
Now more than ever, people from all socioeconomic and occupational
backgrounds are uncomfortable with the prospect of managing their financial
lives. You’ll be there to help them work toward their financial goals and lifelong
dreams. You’ll change lives. Few careers offer as much opportunity to positively
affect people’s lives and personally prosper.
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The keys to success
Why we are successful as a firm
Heather Barnett
Keokuk, Iowa, Branch Manager
“I became a Financial Advisor trainee
right after I finished graduate school.
From the start, I knew I’d have to win
the confidence of potential clients just
because I was — and am still —
relatively younger than most other
advisors. It has been difficult, and I’ve
had to work hard — after all, Keokuk
is a small market with a number of
competitors. But I never viewed failing
as a possibility. The training, Financial
Advisor support and client service are
in my opinion, the best in the industry.”
Successful Financial Advisors come from all walks of life, but one
trait they have in common is an appetite for finance and investing.
You don’t have to be a technical market expert or economist because
you’ll receive plenty of Home Office support and training in the
essentials, but you do need to have a desire to continue learning.
In addition, you must:
• Be able to develop personal relationships. Investors want their
Financial Advisors to have a personal interest in them – to know their
children, health problems and concerns in life. Know these things, and
you will be better prepared to help them manage all of their assets.
Our successful Financial Advisors become trusted friends to many
of their clients.
• Be able to understand clients’ objectives and explain accompanying
risks. It’s your responsibility to do what is best for your clients by
using their parameters, not yours. When clients don’t know exactly
what they need, it will be up to you to educate them.
• Be able to continually find assets, especially from people you don’t
know. Many people start in this business thinking they can be
successful by working with just family and friends, but within six
months they realize they need a much larger asset base to succeed.
Without a substantial asset base, you will have limited business and
little hope of success. Furthermore, some of your clients will move
and leave for other reasons, so you must know how to find new assets
constantly, whether you are new in the business or a seasoned veteran.
• Be able to recommend investment products. Once you become
proficient in the skills mentioned above, you’ll need to have the
personal confidence and persuasive power to convince investors
to follow your recommendations.
• Be able to review your clients’ assets and recommend changes when
necessary. You’ll build close relationships with clients, and you’ll know
when an investment strategy change may be needed – whether as a
result of market volatility, the birth of a child or grandchild, the sale
of the family business, or any other reason.
Frank C. Parker III
Blue Ash, Ohio
“I did two internships at brokerage
firms in college, so I had an idea of how
hard the Financial Advisor job can be.
But once I decided that I wanted to be a
Financial Advisor, I knew this firm had a
solid reputation. The firm has let me
grow my business the way that has
worked the best for me and my clients.”
The firm known today as Wells Fargo Advisors is the successor to some
of the most respected regional brokerage firms in the United States.
A key competitive distinction of ours has been our ability to combine
the capabilities of a large national firm with a culture more akin to that
of the regional firms from which we evolved. Central to that culture is
our dedication to supporting our Financial Advisors’ relationships with
their clients.
With Wells Fargo Advisors, you’ll enjoy a career – and a way of life.
Our average length of service is among the highest in the industry.
Our annual turnover rate is less than 25% of the industry average.
Once you join us, we’re convinced you won’t want to leave.
An advisor-friendly work environment
Our Financial Advisors are given the freedom to recommend the
products and services that best meet their clients’ needs. To that end,
we support open communication between our Financial Advisors
and key Home Office specialists about client-related issues. You might
be surprised as you discover how accessible and helpful our Home
Office staff really is.
A tech-attuned firm
We are continually looking for technological advances to help better
serve clients and Financial Advisors. Our Financial Advisors have
powerful computer workstations with a sophisticated client-contact
management system to help organize their businesses and let them
simultaneously view charts, quotes, research and client information.
The workstations also provide enhanced financial-illustrations
software and portfolio planning tools for developing in-depth
investment strategies. Plus, the firm offers 24-hour online account
access for clients and their tax advisors.*
In addition, our operational excellence gives our Financial Advisors
some of the best support available in the industry. This lets them
concentrate on their businesses, knowing transactions are processed
efficiently and issues are resolved quickly.
* Access to the service may be limited, delayed or unavailable during periods of peak demand, market volatility, system upgrades
or maintenance, or electronic, communication or system problems, or for other reasons.
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The New-Financial-Advisor
Training Program
Wells Fargo Advisors’ training is uniquely structured
to help you succeed. Our training approach focuses on small-group
learning and individual attention. A significant chunk of the training focuses
on preparing for the securities-registration exams you’ll have to pass to become
a full-fledged Financial Advisor – also known as a “registered representative.”
After that, you’ll take part in business development and sales training at
the Home Office before applying your new knowledge and skills during an
apprentice period in an actual practice. The following pages explain further.
Sales and prospecting training
Apprenticeship period in office
Sales and prospecting training in St. Louis
Business development training
Business development training in office
Business foundations training in St. Louis
Product training in office
Exam prep in office
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Norma Andrade
Lincoln Hills, Calif.
Exam prep
Series 7 and Series 66 exam preparation in office. To become a
Financial Advisor, you must be registered with the NYSE, FINRA and
other regulatory bodies. You’ll qualify for this registration by passing a
comprehensive exam known as the Series 7. That’s where your training
starts, with preparation in your local branch office. But you’re not on
your own. Your trainer in St. Louis will lay the groundwork for your
success. Our trainees have averaged a Series 7 exam first-time pass
rate of at least 90% for the past three to five years, versus an industryaverage
first-time pass rate of 66%.* You’ll also receive the same great
level of support for the Series 66, which you’ll likely need to register as
an advisor in your state.
George Hofer
Sun Lakes, Ariz.
In addition to learning sales-related skills, you’ll work closely with your
office’s support professionals to gain knowledge of the administrative
aspects of running your business. You’ll conclude this training
experience by working with your manager to explore prospecting
approaches (e.g., phone, face-to-face or networking) to focus on during
the upcoming apprenticeship period.
Sales and prospecting training
Training in St. Louis. You’re almost ready, but not quite. Now you
need to demonstrate the value you offer investors, and that’s the
training you’ll receive when you return to St. Louis for sales and
prospecting training.
“My parents worked hard in the fields
for 30 years before disability stripped
them of the ability to care for their
family independently. If someone
had taught my parents about the
importance of financial preparedness
30 years ago, their lives would be
different. I decided to become a
Financial Advisor to learn how to earn
my parents’ independence back.
Although I had many employment
options, I was attracted to this firm and
its value-driven approach to doing
business. I continue to share the
importance of financial-preparedness
strategies with families at all income
levels. All it took was the support of
a people-focused firm and the
motivation of true hard work.”
Business development training
Product training in office. “Hands-on” and “high-touch” best describe
the branch training experience. Once you pass your Series 7 and 66
exams, you’ll perform target market research, explore your existing
network and gain exposure to the firm’s core products and services
through our interactive training program. You’ll also learn how to use
our state-of-the-art workstations.
Product training in St. Louis. For the “Business Foundations” phase of
your training, you’ll come to St. Louis for in-depth exposure to the core
products and services Wells Fargo Advisors offers. Along with briefings
by experts in our sales and product marketing areas, you’ll work
through case studies in small groups to reinforce your knowledge. With
the help of experienced trainers, you’ll develop confidence in providing
suitable investment recommendations.
Business development training in office. You’ll kick your business
development training into high gear when you return to your branch
office. You’ll start off by demonstrating your understanding of the
firm’s products and services via an online assessment. In-depth client
scenarios will help refine your product suitability skills and will help
you learn the skill of conducting meaningful conversations with
investors. You’ll discover the importance of tracking your contacts and
monitoring your activity. Throughout this process your manager and
sales trainer will provide you with invaluable support and guidance.
“After 20 years in the Air Force and
12 years at Motorola, I decided to
pursue my passion of working with the
markets. I looked at other firms, but
they didn’t feel right. Wells Fargo
Advisors lets me select the products
and services to offer my clients, and I
like it that way. I love coming to work
every day and helping people manage
their money.”
This segment introduces you to our consultative sales process and
focuses on equipping you with the skills you need to contact investors
and convert those contacts into business relationships. Our blended
training approach gives you the opportunity to participate in both
large-group presentations and small-group prospecting labs, and you’ll
hear from successful Financial Advisors – all under the direction of
seasoned sales trainers.
Apprenticeship Program. Welcome to the real-world version of your
new career, also referred to as “Sprint to 24.” This apprenticeship
challenges you to open 24 new accounts.
As you put your new skills to the test, experienced business
development coaches from our home office are available to help you
reach your goal, and they’ll keep in frequent contact with your branch
manager. You’ll also benefit from the financial support of a full training
salary for the length of the apprenticeship. Your commitment to the
expectations for the period will help you and your manager determine
your probability for success as a Financial Advisor.
*Source: FINRA
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Benefit from our generous
compensation plan
If you’re considering a career as a Financial Advisor,
you’re probably aware that Wells Fargo Advisors is one of the world’s largest and
most respected financial services firms. What you may not know is that we also
offer one of the industry’s most competitive Financial Advisor compensation and
incentives plans.
We believe in the benefits of growing the firm with new Financial Advisors and
are committed to having one of the best new-advisor compensation models in
the industry. Straightforward and easy to understand, our plan is designed with
your professional and personal success in mind.
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Highlights of the plan include:
• Rewards based on your success. We believe it is important to
recognize early on the sales professionals who are fast starters, who
can build new relationships quickly and who meet or exceed firm
goals. During your first two years following training, you are eligible
for performance-based awards designed to recognize your success.
• Built-in safety net. You’ll receive a full salary for the 17-week training
period and our competitive two-year base compensation package at
the end of your training period once you begin your business. As your
business expands and you gain more experience, you’ll transition
gradually to a commission-based compensation model.
What others say about us. Wells Fargo Advisors is part of the
Wells Fargo & Company family. The entire organization focuses on creating
an inclusive work environment where all people are treated fairly, recognized
for their individuality, promoted based on merit and encouraged to reach their
full potential. For our efforts we’ve received the following recognition:
More incentives and perks:
Wells Fargo Advisors is committed to providing you with a
compensation and incentives plan unparalleled by any other in the
industry. Our incentives include:
• Eligibility for the New-Financial-Advisor Business Development
Workshop, which builds on skills you’ve already mastered to help you
take your practice to the next level
• Access to enhanced performance-reporting tools
• Opportunity to earn an expense allowance and receive structured
coaching from the Business Development Group.
World’s 27th Most Respected Public Company | Barron’s, 2012
World’s 45th Most Admired Company | Fortune magazine, 2012
One of the “Training Top 125” | Training magazine, 2011
One of the “Top 50 Companies for Diversity” | DiversityInc magazine, 2012
One of the “40 Best Companies for Diversity” | Black Enterprise, 2012
One of the “Top 10 Companies for LGBT Employees” | DiversityInc magazine, 2012
One of the “50 Best Companies for Latinas” | LATINA Style magazine, 2012
Your benefits do not end there
Wells Fargo Advisors also offers you a complete benefits package
designed to meet many of your personal and family needs and help
protect you from financial hardship in the event of illness or injury.
America’s No. 1 Large Bank in Customer Satisfaction | American Customer Satisfaction Index, 2011
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At Wells Fargo Advisors, we believe our greatest asset
is our diverse and talented workforce. We remain steadfast in our dedication
to create one of the most diverse, dynamic and inclusive firms on the financial
services landscape.
Our commitment
to diversity
To help us continually improve our firm, our diversity efforts are initiated and
informed by a diverse council of company leaders known as the Diversity &
Inclusion Advisory Council. At the individual level, Financial Advisors and other
team members are invited to join team member networks and special events
catering to their diversity interests.
Team Member Networks
Team Member Networks (TMNs) are formed by
individuals connected by a shared background,
experience or other affinity. Wells Fargo’s TMNs align
with the company’s market segments and business
strategy and are open to any team member.
The following team member networks have officially
organized and are always happy to welcome new
participants:
Asian Connection
Latin Connection
Black/African American (BAA) Connection
Native Peoples Team Member Network
PRIDE Team Member Network
Women’s Team Member Network
Veterans’ Team Member Network
Diverse Abilities Team Member Network
New Professionals Team Member Network
From military service to
financial services
We welcome former military personnel
and veterans among our ranks, and
we recognize the unique leadership
opportunities and disciplined work ethic
that so often accompany military life.
We also support veteran causes through
our Veterans’ Team Member Network and
its various chapters throughout the entire
Wells Fargo organization. Open to all team
members, the group sponsors internal
and external outreach efforts to promote
greater veteran awareness. It also provides
professional growth and development
opportunities for its members.
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Be honest with yourself
This business is not for everyone. Your answers to these questions
will help you decide whether it’s right for you:
• Am I self-driven?
• Do I want to serve a wide spectrum of clients from a variety of
backgrounds and belief systems that may be different from my own?
• Can I set and stay focused on my goals?
• Can I manage my time efficiently, stay disciplined and
prioritize my activities?
• Is my family, especially my spouse, partner or significant other,
supportive of my going into this business?
• Can I handle a temporary drop in my current income without a
major strain on my family or my morale?
It’s up to you ...
Are you ready for a change?
As a Wells Fargo Advisors’ Financial Advisor,
you’ll experience boundless personal
challenges, greater potential for financial
rewards, the autonomy to build your own
business, and the dedicated support of a
world-class corporation.
Take a look at yourself – your abilities,
goals, dreams and vision for the future.
If you think this is the career for you, you’ll
find no firm in the industry that will give you
more support, guidance and training than
Wells Fargo Advisors.
• Can I cut back vacations and other leisure activities while I’m
building my business?
• Can I handle rejection?
• Can I keep an upbeat attitude while I have 200 or more
conversations with new prospects every week?
• Can I ask individuals I don’t know about their personal
financial situations?
• Can I take responsibility for my own recommendations?
If you can honestly say “yes” to all of these questions, we believe you
are equipped to be a successful Financial Advisor.
To find out more or apply online for our training program,
visit wellsfargoadvisors.com/joinourteam.
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Wells Fargo recognizes and values the diversity of its employees, customers and business partners. Wells Fargo & Company is an Affirmative Action and Equal Employment Opportunity Employer M/F/D/V.
Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of
Wells Fargo & Company. ©2012 1112-03264 [37561-v9] 11/12
0000582109 (REV 03/1ea.)