Are any VPFCs noticing they or their peers are being targeted? It has long been known Fidelity has been trying to take out the Incumbents VPFCs. Especially, if they were 50+. Today though it seems they’ve moved on to all Large book VPFCs. Is this a cost reduction strategy or what are you hearing?
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There are still incumbent VPFC? Time to move on to a WP or EPC or even RPC role. Best of luck.
I saw this in my branch.
Long-time veteran VPFCs and FCs were getting almost no P1 leads; they were going to the young, favored guys and the President's Circle rock-stars. BOMs played favorites instead of spreading the lead flow fairly to everyone. And yes, the veterans who were being starved for lead flow are the ones getting roasted in their MBRs and reviews for "needing to generate more business".
this is for sure happening, i had a long term VPFC move down to an FC just to keep a job. He was told to find something else or title/pay cut. anyone at Fidelity knows that you can recycle your book for so long, and then u need some new opportunities. Fidelity knows this, the numbers eventually will hit a wall.
What I saw was the favored young bucks getting primo P1 leads directly from the BOM. The vets had to continually grind their book for new opportunities. The BOM would then fault the vets for production shortcomings… what a show!
This is not new. It’s the problem with the Fidelity model. It’s great to get a young, talented, hardworking person licensed and experienced. After a few years though you build a book with no equity and they want to keep you in a certain salary band. So the truly talented outgrow the model and leave. It’s not personal it’s how they’re built. 6/30 VBO Fidelity Alum.
That depends on the Market Leader. I’m in the Carolinas and we haven’t had any problems. I know in South Florida they are dropping like flies. There seems to be issues with management down there though.