(WFC) - Get Report confirmed today that it will raise signing bonuses for veteran brokers, the Wall Street Journal reports.
"Attracting the industry's top talent will always be a priority for Wells Fargo Advisors," a spokeswoman for Wells Fargo said.
She added that recruiting advisers and gaining their clients has "helped us grow in key markets."
The move comes after Bank of America/Merrill Lynch
(BAC) - Get Report said that it would stop paying the large upfront bonuses that brokerages have used to attract talent.
(MS) - Get Report has committed to "significantly" reduce the costly practice of recruiting brokers, the Journal reported.
Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.