500 or bust?
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It must suck for you to deal with this market and know you are not getting a big check. WaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaPretty funny stuff.
Frankly, for you wirehouse rats, I hope you don’t get a thing. Based on my conversations with someone at WS today, that’s what will most likely be happening.
For those of you who sit at your desks only hoping to get another WS retention package, you deserve nothing. Be thankful that ALL of your clients have yet to fire you and that you can still sling your POS marked up bond positions to your silly clients. Anyone care to tell your clients about the misguided BS retention packages truly are? They breed conflicts of interest, since you are essentially forbidden from telling your clients the truth about the inner-workings of your truly horrible companies. WS, Merrill, SB, UBS and MS are all teetering on borderline collapse, and you think you need to be handed a ‘bonus’ to hang around?
I laugh… hard.
‘Where’s my retention package?’, they cried. ‘Any word on the retention package’, as they swoon by the branch manager’s office… thinking those useless pieces of trash will have the answers. Har-dee-har, har, har.
Wahhhhhhh.
Big babies. You fellas saw what was happening at your companies and still told clients that all is ‘fine with us’, since you were paid to sling the company line. Now, your stocks are practically worthless, you have no currency left, and you’ve gotten what you’ve deserved.
So, ‘management (like they matter) is ‘reaching out’ to give us some answers’… blah, blah, blah… and ha, ha, ha.
Saw a WS guy’s foreclosure notice in the paper today. Buh-bye broker-rats.
Goooooood day.
can someone explain how you think the prorationg would work let’s say you got 100k last time and are due 150k does that mean u would get 50 k since you already got 100
The calculation is simple, anyone can figure it out..no calculator or math skills needed. "0"can someone explain how you think the prorationg would work let’s say you got 100k last time and are due 150k does that mean u would get 50 k since you already got 100
I don’t understand why people under contract expect a retention bonus. Retention bonuses are used to retain brokers. Existing contracts already retain brokers.
who is under contract not me but my co and clients have been sold tobtwo banks in a years time we are not even done a the first merger yet
[quote=Hank Moody] Existing contracts already retain brokers.
[/quote]
Kinda like the huge surrender charges on those annuities you like to slam people into?
[quote=nestegg]who is under contract not me but my co and clients have been sold tobtwo banks in a years time we are not even done a the first merger yet[/quote]
maybe if you and your friends were better producers your firm wouldn’t have had to go on the block and then you wouldn’t have to go through two mergers not under contract and you present yourself as somewhat of a moron happy new year
[quote=phatbasturd] [quote=Hank Moody] Existing contracts already retain brokers.
[/quote]
Kinda like the huge surrender charges on those annuities you like to slam people into?[/quote]
Why would I want to retain a client that I sold an annuity to?
All of you crack me up. Lots of negative personal attacks. It is very evident you are 200-300k producers. Is there a forum for those producing over a million that seriously want to discuss retention?
million dollar producers huh. A difference between 300k producers and a million dollar producers is that million dollar producers are better at bullshitting and do it more often to prospects and clients. LOL
Wonder why the 6 or 7 "million dollars guys" I know are broke? I just had to lend one of them 11,500 for his property tax, he said he would give be back 12,500 in 60 days...Said he could not take a CC advance because his wife would see it. Hope he's good for it, and also hope he is not relying on retention to pay me back. Think part of the problem is that in this business guys are thrown out as "million dollar guys"..what does that really mean. 1 Million X 40% equals 400K and then taxes (along with taxes from forgiveable note because all these guys always on a deal, like a hooker) than there you have it, they take home around 10-15K per month. Guess it makes sense why so many have no money.Well that and a W-2 that is much nicer
Has anyone found a legal loophole regarding "assignment" of our AGE Retention package last year getting assigned to Wells Fargo?
For the life of me I can't find the original contract and would love to find a way out....[quote=skbroker]
million dollar producers huh. A difference between 300k producers and a million dollar producers is that million dollar producers are better at bullshitting and do it more often to prospects and clients. LOL
[/quote] maybe it is because million dollar producers do a better job for their customers. They protect them from the latest wall street fads, and diversify them properly so they withstand crappy markets. The absolute worse brokers are low producers always desperate to make their months. They are the ones who sell their customers crap, and switch mutual funds at every opportunity.Geography is funny in this business. There is exactly one $1mil+ AGE(now WB) producer within 25 miles of my office. Around here, million dollar producers are spoken of in reverent tones and none are “broke”. Living in a sub-tropical gulf-front area has its advantages and disadvantages, I guess.
[quote=Hank Moody]
[quote=nestegg]who is under contract not me but my co and clients have been sold tobtwo banks in a years time we are not even done a the first merger yet[/quote]
maybe if you and your friends were better producers your firm wouldn’t have had to go on the block and then you wouldn’t have to go through two mergers not under contract and you present yourself as somewhat of a moron happy new year
[/quote]
Apparently you have no clue…my firm is AGE not Wachovia or Wells…AGE was profitable, and had no debt and 2 billion cash in the bank…we were in fine shape…our CEO was the problem he was in over his head and thought selling would somehow make things better…guess what…it didn’t and everyone seemed to know that but him…you are apparently the moron.
I apologize for the typos previously I was posting from my mobile I don’t have time to be glued to a computer like you! I could care less if we get a retention or not because I don’t plan to stay around for this nonsense. I worked for the best firm there ever was in the brokerage world, and Wachovia f’d that up…
Given all the grief about paying bonuses firms who have accepted TARP funds have gotten, it would make sense to release the retention info close to the Obama inaugeration. The media will all be focused on that, and Wells won’t as much grief for it.
yes i am sure all of the million dollar producers place all their clients assets into cash before the crash and avoided the 40 percent downturn. Most million dollar producer have either inherited a book, have wealthy connections or has been in the business for 40 years.
[quote=skbroker] Most million dollar producer have either inherited a book, have wealthy connections or has been in the business for 40 years. [/quote]
The statement above is why you will never be one
I know 4 or 5 that started out in the bullpen and through
hard work have built there practice.