Wells Fargo Revenue Rules Changes Limit Growth Award Payouts
Aidikoff Uhl & Bakhtiari (“AUB”) and The Law Offices of Patrick R. Mahoney, P.C. (“PRM”) are investigating Wells Fargo’s propensity to constantly revise the rules surrounding which specific products counted towards revenue for purposes of establishing the Wells Fargo Growth Award. These rules changes often occurred after the fact, and, in particular, during the last two years of the Growth Award period (i.e. 2014 and 2015).
AUB and PRM have learned that Wells Fargo significantly underestimated the amount of money it would have to pay its FAs through the Wells Fargo Growth Award. To that end, 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.