The Wells Fargo advisor spends a third of his time coaching, training and mentoring FAs-or what he calls "leading from the front." Recruiting is another critical part of Petramalo's role as the ability to attract top talent raises the bar for his entire team. The Wells model is centered around a planning culture and he encourages FAs to leverage the model to solve every client need.
Bank/TPM: Wells Fargo Advisors
Location: Miami, Fla.
No. of reps managed: 42
Avg. production per rep: $543,000
Total production 2011 (projected): $22m
Total production 2010: $20m
AUM 2011: $2.8b
AUM 2010: $2.5b
Years at the bank: 14 months
Years in the industry: 21
Age of program: 30
Total number of branches: 84
Product mix: Fixed annuities 29%; managed accounts 18%; mutual funds 17%; fixed income 15%; VA 12%; equities 6%; life insurance 1%; other 2%
Do you decide what products are on the shelf? No
