Wells Fargo Advisors Sucks Customer Reviews and Feedback
Wells Fargo Advisors is a subsidiary of Wells Fargo, located in St Louis, Missouri. It is the ninth-largest brokerage firm in the United States as of August 17, 2017, with $490 billion retail client assets under management. The subsidiary was formerly known as Wachovia Securities until May 1, 2009, when it legally changed names following Wells Fargo's acquisition of Wachovia Corporation.
Wells Fargo Advisors has poor customer service according to Robert of Myrtle Beach on consumeraffairs.com.
"One star is really too many stars for the extremely poor customer service delivered by Wells Fargo Advisors. I am a long time customer. They failed to credit a deposit to an account I have with them. I have called and faxed them repeatedly over the past month in an attempt to get them to correct their error. I have spent well over an hour on hold on the phone. At one point I spoke to a CSR who assured me that I would hear something back from them by the end of the day. Of course, I did not. This is how they treat a customer of 15 years! I run a business and I understand customer service. In my business, I go the extra mile to deliver excellent customer service to keep my clients happy. Trying to get through to anyone who can actually help you is a near-impossible task. Go to Vanguard, or Fidelity, or USAA. But whatever you do, do not do business with Wells Fargo Advisors. You will only end up regretting it."
Current Employee - Financial Advisor says"Too much bad news for unethical employees"
Former Employee - Financial Advisor says"Not Loyal to employees - do not care at all about their employees"
Current Employee - Financial Solutions Advisor says"Everything else - work, management, process"
Current Employee - Financial Solutions Advisor says"This is a call center that is so top heavy and backward thinking "managers" . I have never seen a bigger joke of a place to work in my life. You do the exact same thing day after day for no reward or positive reinforcement. On top of all of this, the biggest clown of all of them is the department head- EV - this dude is an absolute idiot. He has covered up so many scandals and lies through his teeth. I would not be surprised if we see him in jail this time next year."
Former Employee - Financial Advisor says"Completely unethical. Management bullies advisors to cross sell, even when it’s unwarranted. They push advisors to bring clients into the Private Bank even though clients don’t want to. Management does nothing when people break rules, encourage people to stay quiet. I anticipate there will be more WF negative news for years to come. Managment lies to recruits to get them to come. I watched they say anything they needed to and never followed up. They are so big, they just trust you won’t be able to do anything anyways. They want revenue first."
Former Employee - Financial Advisor says"Way too much oversight. They are really under review by the SEC and blame the advisor for everything"
Former Employee - Financial Advisor says"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."
Current Employee - Financial Advisor says"Too many levels of management Advisors are basically ignored unless they do over $1,000,000 in production Bankers telling advisors how to manage their business No commission on any trades under $125 22% payout on all accounts under $100,000 Can’t understand the rest of the compensation plan. Too complicated."
Financial Advisor says"Poor management, denial of scandal, micromanaging, too many meetings, constantly changing compensation schedule, numerous payroll mistakes...the list goes on!"
Current Employee - Financial Advisor says"Everything is wrong with it. Such an unethical company."
Branch Manager (Former Employee) says"They rip off customers and team members from fees and compensation. Leadership is a complete joke here. Learn what you can or apply at a real bank..Great clientsDMs are the worst."
Technical Support Specialist, Transcom, (REMOTE) says"They took away all incentives for performance because terrible employees abused the system now it is just a customer service job. Company treats employees like poorly management is terrible."
Complaint Remediation Rep (Former Employee) says"They make you work in covid19 in Orlando on lake underhill. They try to convince you that your safe as the work from home You have to work 90 days exposed then work from homeNoneShort breaks dumb managers"
Manager (Current Employee) says"No work/ life balance, leadership is very poor and no strategic vision, no accountability/responsibility at most levels, tons of co-ordinators, very heavy meeting driven culture, burn out rate and anxiety very high"
Customer Service Phone Banking (Former Employee) says"Although my time with wellfargo was not all bad, there are major fundamental work culture problems that exist within wells Fargo. Even when ignore the extremely toxic work culture you are still left with a company that has defrauded the American public time and time again...I would not recommend even being a customer much less and employee.They have moneys to pay you.Everything else."
Financial Crimes Specialist III (Current Employee) says"Company lacks ethics. Need proper people on management. No room for growth. Bank has documented proof of being untrustworthy. Still implies unrealistic goals."
Phone Banker (Former Employee) says"the call center was the worst job i’ve ever had. you are verbally abused & do not get paid enough to deal with the customers and the supervisors bull that they give. they do not support you. you will not enjoy this job."
Teller/Lead Teller (Former Employee) says"Too much stress, too much pressure, managers and service managers crazy. You have to concentrate on transactions, and a line never ends. Under pay to staff, specially to Tellers.Nothing. Many employees and former employs were happy the CEO, PRESIDENT AND CHAIRMAN( one man holding 3 posts) responsible of account opening scam, is gone.Still nothing is changed in a positive way."
Software & Hardware T1/Employee Inbound Call Center Support Specialist (Former Employee) says"Company does not comply with ADA. They refuse to accommodate in the work place and then if you complain about it. You will be let go and no reason ginice campusNO ADA compliance"
Personal Banker (Former Employee) says"Run, don't walk. Far, far away. Managers attempt to pressure you into unethical selling practices to exceed their branch goals. Ridiculous culture, and not surprised they were busted."
Teller, Lead Teller, Service Manager (Former Employee) says"If you work for this company and expose any of their wrongdoings you will eventually be terminated at will with no justification. Even the Human Resources Department is crooked. They hire the worst individuals into management causing a toxic environment. I would recommend doing a lot of research on this company as they have tons of wrongful termination lawsuits filed against them. They in no way care for any of their employees and are all about scamming the public. Advise with a licensed financial advisor before placing funds with this company. Good medical benefitsLow pay and crooked management"
Lead Teller (Current Employee) says"All management cares about is themselves. The are quick to call HR instead of educating you & reviewing with you! For the longest time, we were understaffed and over worked and the branch manager would hardly assist. Instead she pressured us to always give customers a great experience meanwhile she never cared about employee experience. & at the end of the day the regional manager or other branch managers would always tell her she was doing a great job & she would take the credit for things she didn’t do. Nobody but 1 person on our team likes her (they happen to be friends). She treats you & speaks to you in a condescending manner. & if you call HR, they do absolutely nothing. So many people have left the branch quietly but the reason they have transferred or quit is because of her. The relationship she has with us is so surfaced & only about work. I’ve never worked for a company that they manager constantly calls in, is out on pto, & leaves people in charge who don’t know what to do. I also remember when OTW would pay you if you found fraudulent activity, we were so busy that day she grabbed all the fraud items I had before I could submit it & she later came and told me she submitted it for me. (When you submit it you get most of the money and your assistant only gets $15 I believe) management just truly sucks. They don’t care about you there. The only thing I took away from this is some friendships. If I learned anything, it was owed to the bankers."
Lead Teller (Former Employee) says"Do not trust them they put policies in place then change them to meet their needs the management is poor and not willing to do their job and reprimand anyone who is not doing theirs Cover ups are a must if someone is not doing their job someone else picks up the slack and the management team gets the glory None"
Sr. BSC (Former Employee) says"no way I would work here. They have super high turnover and when you resign from the company because you have nothing to say to anyone at work as management does not listen."
Customer Service Representative (Former Employee) says"Unethical no integrity worst 10 months of my life couldn’t wait to get out no direction scammers all around the goals and expectations are also expected and they encourage the unethical behaviorNothingEverything"
Financial Crimes Specialist (Former Employee) says"It pays bills but after awhile they look for reasons to make you hate your job. They monitor your bathroom breaks and when you can get food. If there is a lot of work to do they leave you alone but once the work is caught up the managers start tracking how often you use the restroom.It pays billsYou’ll hate your life"
Personal Banker I (Former Employee) says"Horrible work environment, petty drama, and no opportunities to advance unless you are on good terms with senior management, the worst thing of all is the management has a culture of he said she said and they love to instigate fights between employees and take 2 hour lunches and rarely show up and do their jobs. HoursNo room to advance, constant micromanaging, predatory sales goals and tactics"
Teller (Former Employee) says"Customer service m, sales, forced to sale to give the manager 4k dlls you would only get 300 the most for all your work! Lie to customers in order to sell.BenefitsEverything"
Applications Systems Engineer 5 (Former Employee) says"Basically if you have a family or a life outside of the office, you need not apply. They expect you to work 12 - 14 hour days, you are "on call around the clock". Management is micromanagement and the developer lacks the freedom to be creative in his own work. They have no initiative to incorporate newer technologies and discourage the use of anything new, therefore degrading your skill set so you have less opportunity to leave. Most of the day spent in meetings and not enough time to do the actual work. In my opinion, this is not a place I would recommend anyone work. I have nothing good to say about Wells Fargo."
Operations Analyst 4 (Current Employee) says"Wells Fargo is a joke. The managers have zero clue how to lead, the decision makers are confused and do not take other areas of the bank into consideration, it’s all about “me” attitude.Remote workPoor pay"
Ugi says"I cannot check my brokerage account 24/7, so I had to set a limit order for selling my holdings. The Wells Fargo trading platform however forces me to set the sell limit value within 50% of the current stock price. It doesn\'t allow me to set a value higher than 50% of the current price. I thought I could check everyday and increase the sell limit price. So I had to set a value for one of my holdings at 50% limit. But my target price was double. The stock went up fast and when I checked my account it was already sold at 50% increase. It caused me about $7.5k in loss."
Noah Popop says"money grubbing
hope the 2 dollar service fees are worth losing your reputation.
they like to forget they work for me. stop opening fraudulent accounts in customers names to meet quotas."
Sydboy1 says"I’ll keep this short. Couple years ago I left Wells Fargo advisors because my advisor of 19 years Mike Lavery conned me unload me to sleep in a portfolio that made Wells Fargo the lion share of the profit while keeping me down at 3% then he neglected to tell me of the fees the exorbitant fees for buying stocks through Wells Fargo advisors. When I reported him to Wells Fargo‘s Robert Brizer he sent back a letter saying that he reviewed everything and everything seem to be normal and straight of course it does it when your Wells Fargo advisers ripping people off these people are so jaded they don’t know which side is up run away from these people. Especially those in Richmond Virginia they have no moral compass."