Aldeer.com Forums Alabama Deer Talk Aldeer General Forum How do folks retire?

There is nothing wrong with doing it yourself. I have absolutely no problem with that. I just work a lot and don't have time. I didn't even do it myself when I was in the business.

As far as Regions, yeah they are probably a better bank than WF. However, my point about their financial advisors remains the same. They still have a quota of certain products they sell to keep their job. Basically, how all of these big banks work in their wealth departments and branch level FAs is you become an associate FA where you are paid a salary. You still have the quota and you get a small commission from the sale of an investment. They are usually pushing annuities which are absolute garbage for a young investor looking to earn a good return. Then if they sell enough, they are promoted to FA where they are on a draw/commission set up. Basically, depending on your experience level you are paid a draw of say $5k a month. That $5k is your quota. Once you sell over that, it is bonus commission. If you consistently sell under that, you’re gone. This isn’t an insult to Regions as a whole company because I agree they are probably better than WF as far as their business practices. But there is a reason most people who are using an FA go to a private group under the umbrella of a larger firm that deals only in investments. A majority of them have moved away from a commission based salary and charge a flat fee (3-5%) and aren’t motivated to sell you a product because it’s a product your firm sold less of the past couple months. Like I said, my wife and I have our bank accounts at Regions and have zero problems. I just wouldn’t use a big bank for much else.