Sales Incentive Programs

Sales Incentive Programs
As part of Wells Fargo’s sales culture, the company creates various incentive programs to reward the top producers of new
business and to obtain new business. This section provides guidance for specific situations involving incentive programs. If
any business practice being followed in your area does not meet these guidelines, you should refuse to participate and
should report the inappropriate behavior to EthicsLine.
Sales to relatives and friends
Wells Fargo recognizes that relatives and friends are one source of new business. Within these guidelines, incentive
programs generally allow team members to receive credit and any related compensation for legitimate sales to, or referrals
of, relatives or friends. Business units may place more restrictive guidelines on sales to relatives or friends to ensure that
conflicts of interest or perceptions of conflicts of interest are avoided.
Inappropriate sales
Steering a customer to an inappropriate or unnecessary product to receive sales credit harms the customer; it is an
unacceptable practice that violates both the spirit and the letter of our incentive programs and this Code.
Gaming
Any form of “gaming” to receive compensation, to meet sales goals, or for any other reason is in direct violation of
company policy and this Code. Gaming is defined as the manipulation, misrepresentation, or both of sales or sales
reporting in an attempt to receive compensation or to meet sales goals. Gaming issues may arise in but are not limited to
the following categories of activities:
? Reclassification or transfer: Reclassifying or transferring existing business should not be viewed as a true sale
and is not intended to result in sales incentive, unless the reclassification or transfer:
o Is part of a specific product program.
o Is a general bank strategy.
o Has very clear customer benefit and the customer’s express agreement.
? Discounts or customer incentives: It is not appropriate for you to supplement standard discounts or customer
incentives by substituting your own personal funds, including your commission income, to complete a sale or earn
a higher commission by recording a cross-sell. It is inappropriate to pay a fee, such as a credit card fee, or fund a
deposit account on behalf of a customer to complete a sale. Wells Fargo is interested in bona fide sales and
provides a number of ways for our salesforce to offer fee waivers or rate discounts to attract new business.
? Sales referrals: Only valid sales referrals made by the team member seeking the credit may be submitted to
meet sales goals or receive credit under sales incentive programs. Valid referrals typically require team members
to have spoken directly with the customer about a specific product or a referral to a different business unit and
to have gained the customer’s agreement for that product or referral. You are responsible for knowing the terms
of the sales incentive programs that are applicable to your business unit, including but not limited to the rules on
sales referral credit and how your business unit defines a valid referral.