Wells Fargo’s Compliance Restrictions Limit Growth Award Payouts
Aidikoff Uhl & Bakhtiari (“AUB”) and The Law Offices of Patrick R. Mahoney, P.C. (“PRM”) have learned that Wells Fargo may have intentionally tightened its compliance restrictions to trigger audits to find sales practice violations that it could use as a pretext to terminate FAs who would have otherwise qualified for the Wells Fargo Growth Award.
Wells Fargo significantly underestimated the amount of money it would have to pay its FAs through the Wells Fargo Growth Award. As such, AUB and PRM are investigating the mechanisms that Wells Fargo employed to artificially limit or prevent its FAs from earning the Wells Fargo Growth Award.