So, What Happens When...

6 replies [Last post]
doberman's picture
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Joined: 2005-02-22

I've never worked for a B/D during a buyout, so I was just wondering...
With the AGE / Wachovia future convergence, what might happen when a broker from each firm has the same client? Say brokers in the same city? Or brokers in different states, but with the same client?

Ashland's picture
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Joined: 2007-03-07

It happens all the time. The client chooses... are doesn't!

Philo Kvetch's picture
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Joined: 2005-05-17

Ashland wrote: It happens all the time. The client chooses... are doesn't!

What on earth does that mean?

no idea's picture
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Joined: 2005-11-15

When I worked at AGE there were clients that actually had 2 brokers in the same office for different accounts.
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Ashland's picture
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Joined: 2007-03-07

Philo Kvetch wrote: Ashland wrote: It happens all the time. The client chooses... are doesn't!

What on earth does that mean?

Meant 'or doesn't'. The client can choose to change to just one rep or he/she doesn't have to. Many clients want two or more reps because they want a diversity of ideas, or want someone to manage to a specific goal.

vbrainy's picture
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Joined: 2006-07-26

Weird.  Most firms have a non compete agreement among advisors meaning you cannot prospect another co workers clients.
I would think if you did not have that it would make for a ruthless office atmosphere.

aldo63's picture
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Joined: 2006-09-11

the overlap issue of clients with accounts at both firms could get sticky

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