How to move clients to another B/D...

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new_dude's picture
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Joined: 2007-07-15

Okay, as I posted previously I was interviewing with 3 of the larger firms.  I decided that I will go to Mother Merril despite the high expectations and low chance for survival.
Im coming from A.G. Edwards and haven't been in the business that long, but long enough to have some AUM and existing business relationships.  So with that said, what is the proper way of moving clients to another firm without putting myself liable for saying the "wrong things" to have my A.G.E legal team come after me?
From my understanding, its important not to flat out ask them to come with you, but let them know that its my duty to notify them that I am switching and I still value their relationship.  How do you usually go about this?  Thos who have experiencing in the moving biz please offer me your insights.
Lastly, my former "team member" who left the biz 1 month ago gave me about 3 decent size accts to manage before he left.  I have only talked to each about once or twice and traded each of them at least once (all equities which have reasonably or unreasonably plummeted b/c of last weeks drop in the market). 
My question is how would you go about asking clients who are technically yours to move with you to another firm without having any established relationship?  If they were 10k accounts I wouldn't really try as hard, but they're decent size accounts that I would like to have under mgmt. to start with at Merril.  Its just that we have not progressed any relationship or decent rappor to this point, so Im not in the position to say that I deserve their business based on what I have done for them so far.

troll's picture
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Joined: 2004-11-29

new_dude wrote:My question is how would you go about asking clients who are technically yours to move with you to another firm without having any established relationship?  If they were 10k accounts I wouldn't really try as hard, but they're decent size accounts that I would like to have under mgmt. to start with at Merril.  Its just that we have not progressed any relationship or decent rappor to this point, so Im not in the position to say that I deserve their business based on what I have done for them so far.
You're about to make a major move to another firm and you don't know the answer to this question AND you have no relationship with these particular clients?  I really feel sorry for you and what you are about to do to your career.  On a positive note, there are going to be a few very happy brokers in your branch soon.

new_dude's picture
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Joined: 2007-07-15

Why do you feel sorry for me?  I am extremely bullish on my career and so is Merril and the other firms that offered me a position.
Thanks for being the master of the obvious.  I posted a question b/c I didn't have an cut throat answer.  Thats why people ask questions.  There's actually several angles I can approach the above scenario, but I was hoping that someone would give me an alternative.
If you have a reasonable and realistic opinion, great.  If not, Im not hurting for it.

MakeItRainVick7's picture
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Joined: 2007-07-20

New Dude, Don't waste your time replying to these losers on this board. While a few of them offer good advice, a najority of them are serious douches who get off on weird replies like FB. They gave me the same BS advice, and I moved 90% of my book after 2 years in. "There are going to be a lot of happy brokers ..." That's BS too. Even if you've had one conversation with the client, its' one more than those non-prospecting losers had who will try and leech off of your book. I had one broker who I knew would ry and cannibalize my book, and I promise he learned a leson fast. Let's just say he had more to lose than me. So, all you faggots that leech off of hard working brokers stuff when they have the nutz to move...be careful. We have our eyes and ears open too!!!

Ferris, Bobby Hull, etc., you guys are lightweights in everything you do. You get hard-ons by slamming people looking for real advice. F/K off...

troll's picture
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Joined: 2004-11-29

The comments are being made because it seems incredulous that a guy going from AGE to ML would not have a workable plan to move his accounts.
The comments are being made because it seems incredulous that a guy at AGE could think he has a "relationship" with clients who he has only talked to once or twice.
For the record, comments made with sarcasm, or tongue firmly in cheek, are often more valuable than some of the drivel posted by people who focus on being "sensitive."  The world is not a sensitive place and if you can't take the heat get the hell out of the kitchen.
It's nonsensical to think that the clients at AGE who have talked to New Dude once or twice or going to follow him to ML as if he is the Pied Piper

troll's picture
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Joined: 2004-11-29

hit the button, my bad.
...Pied Piper.  The reason he has them is some previous broker left AGE and they didn't go with him.  They, like lots of customers, feel more loyalty to the firm than they feel to the individual.
That said, there is the Wachovia is coming dynamic in play here. Clients who were at AGE because it was AGE are no longer experiencing that emotion.
A great many of them may decide to change firms, and if that decision is on the table the logical destination is ML because it's the most widely recognized name, and the assumption in the minds of most investors is that Merrill reps are a cut above because in their minds Merrill is a cut above.
As the tennis player married to the German says, "It's all about image."

troll's picture
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MakeItRainVick7 wrote:New Dude, Don't waste your time replying to these losers on this board. While a few of them offer good advice, a najority of them are serious douches who get off on weird replies like FB. They gave me the same BS advice, and I moved 90% of my book after 2 years in. "There are going to be a lot of happy brokers ..." That's BS too. Even if you've had one conversation with the client, its' one more than those non-prospecting losers had who will try and leech off of your book. I had one broker who I knew would ry and cannibalize my book, and I promise he learned a leson fast. Let's just say he had more to lose than me. So, all you faggots that leech off of hard working brokers stuff when they have the nutz to move...be careful. We have our eyes and ears open too!!! Ferris, Bobby Hull, etc., you guys are lightweights in everything you do. You get hard-ons by slamming people looking for real advice. F/K off...
I can't believe that the same sweet woman that I've been making mad, passionate love to gave birth to you. You are a meanie.

Dust Bunny's picture
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new_dude wrote:
Okay, as I posted previously I was interviewing with 3 of the larger firms.  I decided that I will go to Mother Merril despite the high expectations and low chance for survival.
Im coming from A.G. Edwards and haven't been in the business that long, but long enough to have some AUM and existing business relationships.  So with that said, what is the proper way of moving clients to another firm without putting myself liable for saying the "wrong things" to have my A.G.E legal team come after me?
From my understanding, its important not to flat out ask them to come with you, but let them know that its my duty to notify them that I am switching and I still value their relationship.  How do you usually go about this?  Thos who have experiencing in the moving biz please offer me your insights.
Lastly, my former "team member" who left the biz 1 month ago gave me about 3 decent size accts to manage before he left.  I have only talked to each about once or twice and traded each of them at least once (all equities which have reasonably or unreasonably plummeted b/c of last weeks drop in the market). 
My question is how would you go about asking clients who are technically yours to move with you to another firm without having any established relationship?  If they were 10k accounts I wouldn't really try as hard, but they're decent size accounts that I would like to have under mgmt. to start with at Merril.  Its just that we have not progressed any relationship or decent rappor to this point, so Im not in the position to say that I deserve their business based on what I have done for them so far.

First: your new B/D has a transition team and will give you advice on what you can and cannot say and what letters are compliance approved.
Second: the chance of people with whom you have very short term relationships following you to a new firm are slim to none.  Still....it doesn't hurt to try.
When I left Jones, I called to inform my "good" clients to tell them where I had gone and stressed the positive reasons why I was moving and how it would benefit me and my clients.  I sent a boiler plate letter (reviewed by compliance) to clients and good prospects announcing my move and followed with a phone call.  I never actively "asked" for my clients to move their accounts.  Just leave it up to them to ask the question about how to move with you.

troll's picture
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Joined: 2004-11-29

new_dude wrote:
Why do you feel sorry for me?  I am extremely bullish on my career and so is Merril and the other firms that offered me a position.
Thanks for being the master of the obvious.  I posted a question b/c I didn't have an cut throat answer.  Thats why people ask questions.  There's actually several angles I can approach the above scenario, but I was hoping that someone would give me an alternative.
If you have a reasonable and realistic opinion, great.  If not, Im not hurting for it.

If I am the master of the obvious then you're the master of stupidity.  I am skeptical that ML would offer you ANYTHING based on your posts above and the limited knowledge you know about this business especially client relationships.  My answer was genuine and because you are so blinded by the opportunity you chose not to listen.  Moving a book is HARD even for the most skilled advisor with YEARS of client relationships.  I have seen several people like you implode when doing this, only to end up washed out of the business.  Good luck to you.

troll's picture
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Joined: 2004-11-29

MakeItRainVick7 wrote:New Dude, Don't waste your time replying to these losers on this board. While a few of them offer good advice, a najority of them are serious douches who get off on weird replies like FB. They gave me the same BS advice, and I moved 90% of my book after 2 years in. "There are going to be a lot of happy brokers ..." That's BS too. Even if you've had one conversation with the client, its' one more than those non-prospecting losers had who will try and leech off of your book. I had one broker who I knew would ry and cannibalize my book, and I promise he learned a leson fast. Let's just say he had more to lose than me. So, all you faggots that leech off of hard working brokers stuff when they have the nutz to move...be careful. We have our eyes and ears open too!!! Ferris, Bobby Hull, etc., you guys are lightweights in everything you do. You get hard-ons by slamming people looking for real advice. F/K off...
You're a very angy young man.
And for the record, 90% of a 10MM book isn't very impressive.

vbrainy's picture
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Joined: 2006-07-26

Dust Bunny wrote:new_dude wrote:
Okay, as I posted previously I was interviewing with 3 of the larger firms.  I decided that I will go to Mother Merril despite the high expectations and low chance for survival.
Im coming from A.G. Edwards and haven't been in the business that long, but long enough to have some AUM and existing business relationships.  So with that said, what is the proper way of moving clients to another firm without putting myself liable for saying the "wrong things" to have my A.G.E legal team come after me?
From my understanding, its important not to flat out ask them to come with you, but let them know that its my duty to notify them that I am switching and I still value their relationship.  How do you usually go about this?  Thos who have experiencing in the moving biz please offer me your insights.
Lastly, my former "team member" who left the biz 1 month ago gave me about 3 decent size accts to manage before he left.  I have only talked to each about once or twice and traded each of them at least once (all equities which have reasonably or unreasonably plummeted b/c of last weeks drop in the market). 
My question is how would you go about asking clients who are technically yours to move with you to another firm without having any established relationship?  If they were 10k accounts I wouldn't really try as hard, but they're decent size accounts that I would like to have under mgmt. to start with at Merril.  Its just that we have not progressed any relationship or decent rappor to this point, so Im not in the position to say that I deserve their business based on what I have done for them so far.

First: your new B/D has a transition team and will give you advice on what you can and cannot say and what letters are compliance approved.
Second: the chance of people with whom you have very short term relationships following you to a new firm are slim to none.  Still....it doesn't hurt to try.
When I left Jones, I called to inform my "good" clients to tell them where I had gone and stressed the positive reasons why I was moving and how it would benefit me and my clients.  I sent a boiler plate letter (reviewed by compliance) to clients and good prospects announcing my move and followed with a phone call.  I never actively "asked" for my clients to move their accounts.  Just leave it up to them to ask the question about how to move with you.

Very well said and a complete professional at that.

bluestars80's picture
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Joined: 2007-07-12

I moved my book twice, once it went smoothly, once was a nightmare.
FWIW, the last poster had the best advice, but I will say this based on my experience:
1)Move quickly to get the assets ACATED
2)Try to get as much in movement mode before the TRO hits..........
3)If you get 70% moved in the first 3-4 months, it's pretty darn good..........
4)You'll have to work your ASS off after the move, I DOUBLED my efforts both times..........
 
 

new_dude's picture
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Joined: 2007-07-15

Dust Bunny wrote:new_dude wrote:
Okay, as I posted previously I was interviewing with 3 of the larger firms.  I decided that I will go to Mother Merril despite the high expectations and low chance for survival.
Im coming from A.G. Edwards and haven't been in the business that long, but long enough to have some AUM and existing business relationships.  So with that said, what is the proper way of moving clients to another firm without putting myself liable for saying the "wrong things" to have my A.G.E legal team come after me?
From my understanding, its important not to flat out ask them to come with you, but let them know that its my duty to notify them that I am switching and I still value their relationship.  How do you usually go about this?  Thos who have experiencing in the moving biz please offer me your insights.
Lastly, my former "team member" who left the biz 1 month ago gave me about 3 decent size accts to manage before he left.  I have only talked to each about once or twice and traded each of them at least once (all equities which have reasonably or unreasonably plummeted b/c of last weeks drop in the market). 
My question is how would you go about asking clients who are technically yours to move with you to another firm without having any established relationship?  If they were 10k accounts I wouldn't really try as hard, but they're decent size accounts that I would like to have under mgmt. to start with at Merril.  Its just that we have not progressed any relationship or decent rappor to this point, so Im not in the position to say that I deserve their business based on what I have done for them so far.

First: your new B/D has a transition team and will give you advice on what you can and cannot say and what letters are compliance approved.
Second: the chance of people with whom you have very short term relationships following you to a new firm are slim to none.  Still....it doesn't hurt to try.
When I left Jones, I called to inform my "good" clients to tell them where I had gone and stressed the positive reasons why I was moving and how it would benefit me and my clients.  I sent a boiler plate letter (reviewed by compliance) to clients and good prospects announcing my move and followed with a phone call.  I never actively "asked" for my clients to move their accounts.  Just leave it up to them to ask the question about how to move with you.

Thanks Dustbunny for sharing your experience with your move from Jones.  I believe my mgr mentioned that the have an approved letter I can send out to clients. 
Did you ever find yourself fighting for your clients with a previous advisor at your old firm and putting the client in an awkward situation?  It seems like my "friends" now won't be that way when it comes down to business.  I've seen others that have left and have fought to retain their old clients against the fielding calls of their past peers in the firm.

new_dude's picture
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Joined: 2007-07-15

bluestars80 wrote:
I moved my book twice, once it went smoothly, once was a nightmare.
FWIW, the last poster had the best advice, but I will say this based on my experience:
1)Move quickly to get the assets ACATED
2)Try to get as much in movement mode before the TRO hits..........
3)If you get 70% moved in the first 3-4 months, it's pretty darn good..........
4)You'll have to work your ASS off after the move, I DOUBLED my efforts both times..........
 
 

Thanks bluestars80.  I appreciate your advice.  I can only guess that it took you about 3-4mo to move close to 70% of your book to your new firm.
At this point do you still try to contact the other 30% or has this been a lost cause for you?  I've already concluded that I should have about around 80% of my AUM transferring based on my solid relationips with my HNW clients and can only guess that 40-50% of my smaller accounts would transfer over.

new_dude's picture
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Joined: 2007-07-15

Ferris Bueller wrote:new_dude wrote:
Why do you feel sorry for me?  I am extremely bullish on my career and so is Merril and the other firms that offered me a position.
Thanks for being the master of the obvious.  I posted a question b/c I didn't have an cut throat answer.  Thats why people ask questions.  There's actually several angles I can approach the above scenario, but I was hoping that someone would give me an alternative.
If you have a reasonable and realistic opinion, great.  If not, Im not hurting for it.

If I am the master of the obvious then you're the master of stupidity.  I am skeptical that ML would offer you ANYTHING based on your posts above and the limited knowledge you know about this business especially client relationships.  My answer was genuine and because you are so blinded by the opportunity you chose not to listen.  Moving a book is HARD even for the most skilled advisor with YEARS of client relationships.  I have seen several people like you implode when doing this, only to end up washed out of the business.  Good luck to you.

Master of stupidity?  Wow, I am very impressed that you typed that as if it was a witty line and most likely patted your self on the back for that. I actually feel sorry for you, but based on your posts it seems that you don't have any inclination to how you would have handled the above situation (possibly based on your limited not knowledge of client relationships)
 
Furthermore, its also obvious that you do not have an analytic temperment to help you read a post thoroughly b/c you respond missing the whole thing completely. I mentioned earlier that I wasn't sure how to move 3 accounts that I just inherited from a departed advisor NOT my whole book.  I was looking for people to offer me different ways that they approached moving existing clients and/or new relationships NOT that I didn't have a plan already in place.. 
 
Im sorry, but your offering of a "genuine" opinion can be easily interpreted as being an @SS.  More likely it seems that most of the people on here like you like to throw jabs in an online message board do it because it makes you feel like have a big d!ck in order to compensate for your REAL LIFE short comings. 
 
Lastly, what it really comes down to is that more likely your a disgruntled failure in the business or in life for that matter and find any reason to snide at the reality that someone like myself would be offered a position to a firm you regard highly of like ML.  This is a waste of my time and you're a waste of a keystroke. 

troll's picture
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feeblebrainedidiot_dude wrote:Master of stupidity?  Wow, I am very impressed that you typed that as if it was a witty line and most likely patted your self on the back for that. I actually feel sorry for you, but based on your posts it seems that you don't have any inclination to how you would have handled the above situation (possibly based on your limited not knowledge of client relationships)
It's really hard to take your insults seriously when you write like a third grader.  Punctuation can be your friend.
Quote:
Furthermore, its also obvious that you do not have an analytic temperment to help you read a post thoroughly b/c you respond missing the whole thing completely. I mentioned earlier that I wasn't sure how to move 3 accounts that I just inherited from a departed advisor NOT my whole book.  I was looking for people to offer me different ways that they approached moving existing clients and/or new relationships NOT that I didn't have a plan already in place.. 

 
You should really learn to use the internet before you spew such garbage from your fingertips.  I quoted the appropriate passage that I was referencing and I never mentioned nor implied that you didn't have a plan for the rest of your book.  Go ahead and read it over again, sport.
 
Quote:
 
Im sorry, but your offering of a "genuine" opinion can be easily interpreted as being an @SS.  More likely it seems that most of the people on here like you like to throw jabs in an online message board do it because it makes you feel like have a big d!ck in order to compensate for your REAL LIFE short comings. 

 
Boo hoo for you.  Why don't you cry about it a bit more.  Welcome to the internet where sometimes you might get an opinion that is different than your own.  It's hard to believe that you have such a thin skin.   I really do hope it works out for you, my last comment even wished you luck.  That doesn't change my opinion that what you are about to undertake is very difficult and you may not be victorious.
 
Quote:
Lastly, what it really comes down to is that more likely your a disgruntled failure in the business or in life for that matter and find any reason to snide at the reality that someone like myself would be offered a position to a firm you regard highly of like ML.  This is a waste of my time and you're a waste of a keystroke. 

Think what you want, I hope it makes you feel better about your decision to move your business.  Getting an offer to move to ML is nothing special.  Because of the Wachovia merge, most of my office was courted by them including the pikers with 250K T12.  They made me an offer and just the cash portion was over 8 figures.  You're not that special kiddo.  Good luck to you.

Wildcat_02's picture
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new_dude wrote:
Why do you feel sorry for me?  I am extremely bullish on my career and so is Merril and the other firms that offered me a position.
Thanks for being the master of the obvious.  I posted a question b/c I didn't have an cut throat answer.  Thats why people ask questions.  There's actually several angles I can approach the above scenario, but I was hoping that someone would give me an alternative.
If you have a reasonable and realistic opinion, great.  If not, Im not hurting for it.

 
Not trying to be a homer here, but you're moving to MERRILL LYNCH.  I think most clients would be okay accepting your new role with a brand name more recognizable than Pepsi. 

bluestars80's picture
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new_dude wrote:bluestars80 wrote: At this point do you still try to contact the other 30% or has this been a lost cause for you?  I've already concluded that I should have about around 80% of my AUM transferring based on my solid relationips with my HNW clients and can only guess that 40-50% of my smaller accounts would transfer over.
Well, the last time I moved it was from regional to indy.  The GOOD was, I only WANTED the 70% that I took, and they knew that.  I basically "fired" all the "pikers" (Bobby Hull term) and the PITA's I didn't want, and I told everyone the way it was going to work moving forward, and they were happy to move with me..........

blarmston's picture
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Think what you want, I hope it makes you feel better about your decision to move your business.  Getting an offer to move to ML is nothing special.  Because of the Wachovia merge, most of my office was courted by them including the pikers with 250K T12.  They made me an offer and just the cash portion was over 8 figures.  You're not that special kiddo.  Good luck to you.
Ferris- Bull$hit... So they offered you a check for at least $10MM? And you supposedly turned it down? You're a hack...

JCadieux's picture
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Hope you're still listening...This is a legal issue and appropriate activities vary from state to state.  This is NOT the kind of issue you should put in the hands of strangers on an anonymous chat board.Speak with your branch manager and your own legal council on this issue.Congratulations on the big transition!  And good luck with the POA program.

pretzelhead's picture
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Ferris Bueller wrote:
They made me an offer and just the cash portion was over 8 figures. 

45,000.991 is not 8 figures.

new_dude's picture
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Joined: 2007-07-15

Ferris the Bull$hitter wrote:
Think what you want, I hope it makes you feel better about your decision to move your business.  Getting an offer to move to ML is nothing special.  Because of the Wachovia merge, most of my office was courted by them including the pikers with 250K T12.  They made me an offer and just the cash portion was over 8 figures.  You're not that special kiddo.  Good luck to you.

Pahleeeazzzze.  Let me just share the same thoughts to you:
"Your're not that special kid" 
You don't have that much intelligence, but you do have some balls to come out and tell me and basically everyone else who patrols your nonsense that you were offered north of $10,000,000 for your baby sized book? LOL!
Please continue Mr. Buffet!  Did you turn that check down like how you turned down the invitation to Harvard since you were too busy being successful at the local community college?  Or how about that time you turned down Bill Gates's request to add his portfolio to your book since you didn't have anymore time to manage smaller accounts. Please oracle of the financial world continue to wonder all of us with your stories. 
I guess at the end of the day I hope you've gained satsifaction in your life trying to convince an internet message board believe your such an important badass producer that's worthy of a fictitous 8 figure offer.  Too bad people in the REAL WORLD don't know how important you are.  But I guess thats what the internet is for!  Maybe I'll go on espn.com and tell everyone Im Michael Jordan and that Im only typing there because I had nothing better to do.
Lastly, let me share something for you like you've graciously done for me and I hope it will help you along your journey to build yourself up on this board:
GOOD LUCK TO YOU.

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Oh btw, its nice to see that everyone has called you out on your  bs and you've never responded to it at ALL even though you've been active on this site.
Maybe you just didn't have time to respond b/c your trying to block your phone from Oprah trying to squeeze in your book.  It should be easy to turn her down just like those routine 8 figure offers people give you. hahahaha

Closer's picture
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Joined: 2007-02-26

I heard Ferris was Bobby Hull's boyfriend and he doesn't work in the industry, just acts as BH's "internet sidekick". Not a bad plan BH, not a bad plan.

troll's picture
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new_dude wrote:Ferris the Bull$hitter wrote:
Think what you want, I hope it makes you feel better about your decision to move your business.  Getting an offer to move to ML is nothing special.  Because of the Wachovia merge, most of my office was courted by them including the pikers with 250K T12.  They made me an offer and just the cash portion was over 8 figures.  You're not that special kiddo.  Good luck to you.

Pahleeeazzzze.  Let me just share the same thoughts to you:
"Your're not that special kid" 
You don't have that much intelligence, but you do have some balls to come out and tell me and basically everyone else who patrols your nonsense that you were offered north of $10,000,000 for your baby sized book? LOL!
Please continue Mr. Buffet!  Did you turn that check down like how you turned down the invitation to Harvard since you were too busy being successful at the local community college?  Or how about that time you turned down Bill Gates's request to add his portfolio to your book since you didn't have anymore time to manage smaller accounts. Please oracle of the financial world continue to wonder all of us with your stories. 
I guess at the end of the day I hope you've gained satsifaction in your life trying to convince an internet message board believe your such an important badass producer that's worthy of a fictitous 8 figure offer.  Too bad people in the REAL WORLD don't know how important you are.  But I guess thats what the internet is for!  Maybe I'll go on espn.com and tell everyone Im Michael Jordan and that Im only typing there because I had nothing better to do.
Lastly, let me share something for you like you've graciously done for me and I hope it will help you along your journey to build yourself up on this board:
GOOD LUCK TO YOU.

 
Relax, no need to get your panties into a twist.  This forum doesn't have an edit feature and that's SEVEN figures.
You're either in Rocky's or Tim's branch.  Doesn't matter, I know then both.

troll's picture
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Joined: 2004-11-29

What, no page long reply?  No stomping of feet while you hold your breath?  Where's all that anger you directed at me yesterday, I was really hoping for some more.

GoingIndy????'s picture
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Joined: 2007-07-01

ML was offering about a 200% deal for those 500k and above similar to MS.  Low end for any decent producer was 150% at any firm.  However both deals have a good amount of deferred comp. 

troll's picture
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Ferris Bueller wrote:
What, no page long reply?  No stomping of feet while you hold your breath?  Where's all that anger you directed at me yesterday, I was really hoping for some more.

New Dud, which is it? Rocky or Tim? Nevermind...we'll figure it out. Have a nice, relaxing weekend.

MakeItRainVick7's picture
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Joined: 2007-07-20

90% of 20MM moved with 2 years in, but who's counting. And yes, I locked them in ahead of time. Also, although I realize a lot of your answers are tongue in cheek, they are still a waste of time. If we knew the answers to our stupid questions we wouldn't be on this board with you lowlifes. Some of you losers live here, which is mind-boggling. All new guys, build your business, meet with your clients a lot, and then take a big check after 2 years. Why the hell would anyone stick around to make 80k in year 3 when they could get 200%, and still make 70k after moving??? When they handed me my 250k check a few weeks ago, with more on the way, I knew my business plan was working. 6 years from now, as my business continues to grow, I'll take a bigger check again! You losers won't, you'll go Indy for larger payouts, all while missing the big picture. Who the Fcku would ever invest with a guy working in his basement with LPL on his card???

MakeItRainVick7's picture
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Joined: 2007-07-20

oh, btw, all of the large wirehouses are offering guys with 2-5 years in 100-125% upfront and 75-125%, or more, on the back end. All cash, and the back end has really easy numbers attached such as 80% of assets after 14 months, any new assets, 125% of production after 24 months, 150% of production after 36 months and 200% of production after 48 months. also, some have big kickers after 60 months. So, the deals are 200-250% for new guys. Finally, the growth kickers are no brainers as if we are not growing we won't make it anyway...

troll's picture
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Joined: 2004-11-29

MakeItRainVick7 wrote: Some of you losers live here, which is mind-
boggling.

You are so right. We should all try to be more like you and spend less time
here. Thanks for pointing out the error of our ways.

GoingIndy????'s picture
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Joined: 2007-07-01

MakeItRainVick7 wrote: You losers won't, you'll go Indy for larger payouts, all while missing the big picture. Who the Fcku would ever invest with a guy working in his basement with LPL on his card???Try local branding, 2500 sq. ft office, a couple of reps, conference room, receptionist, a couple of part time assistants... oh yea and I own the business.  I'll take that over the extra 14-20 basis points a year with handcuffs you're getting.  Actually you're getting less than that after taxes.  Some may work out of their basements, but not most. 

troll's picture
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Joined: 2004-11-29

MakeItRainVick7 wrote:90% of 20MM moved with 2 years in, but who's counting. And yes, I locked them in ahead of time. Also, although I realize a lot of your answers are tongue in cheek, they are still a waste of time. If we knew the answers to our stupid questions we wouldn't be on this board with you lowlifes. Some of you losers live here, which is mind-boggling. All new guys, build your business, meet with your clients a lot, and then take a big check after 2 years. Why the hell would anyone stick around to make 80k in year 3 when they could get 200%, and still make 70k after moving??? When they handed me my 250k check a few weeks ago, with more on the way, I knew my business plan was working. 6 years from now, as my business continues to grow, I'll take a bigger check again! You losers won't, you'll go Indy for larger payouts, all while missing the big picture. Who the Fcku would ever invest with a guy working in his basement with LPL on his card???
We like the higher payout because it's like getting a bonus check EVERY YEAR for 100 % of our trailing twelve paid at 45%. How's THAT for the big picture?

bluestars80's picture
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Joined: 2007-07-12

MakeItRainVick7 wrote:90% of 20MM moved with 2 years in, but who's counting. And yes, I locked them in ahead of time. Also, although I realize a lot of your answers are tongue in cheek, they are still a waste of time. If we knew the answers to our stupid questions we wouldn't be on this board with you lowlifes. Some of you losers live here, which is mind-boggling. All new guys, build your business, meet with your clients a lot, and then take a big check after 2 years. Why the hell would anyone stick around to make 80k in year 3 when they could get 200%, and still make 70k after moving??? When they handed me my 250k check a few weeks ago, with more on the way, I knew my business plan was working. 6 years from now, as my business continues to grow, I'll take a bigger check again! You losers won't, you'll go Indy for larger payouts, all while missing the big picture. Who the Fcku would ever invest with a guy working in his basement with LPL on his card???
 
What a business plan........ Your clients must love you!

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