Financial Services Industry
Industry: Email Alert RSS FeedWachovia launches 4front client loyalty program; Firm offers bonuses of up to $100,000.(News)
Investment News, March, 2007
Byline: Dan Jamieson IRVINE, Calif. - In an expected move, Wachovia Securities LLC this month launched a client loyalty program called 4front. The program offers one-time deferred bonuses of up to $100,000 for brokers who meet certain thresholds. Wachovia describes the program as an effort to build client loyalty.
"We're the first [firm] to have something this dramatic built around client loyalty and satisfaction," said David Monday, chief growth and productivity officer for Richmond, Va.-based Wachovia Securities. "It's not a bad package," said a Wachovia rep in Southern California, who asked not to be identified. "It's an effort at broker retention." Mr. Monday said that 4front is based on investor research showing that...
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