500 or bust?
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I have heard different. How long ago was it 100% upfront?All I know is what I heard and that it was explicit that ISG would be participating. I heard DL in person state that ISG has been the most affected. If they cut ISG out then you can only assume there will be a lot of ISG guys/gals leaving. ISG is paying well over 100% for new recruits. Last I heard it was 100% cash upfront and a backend component of 25 to 50%. Recruits doing less than 400k have been getting this deal.
Just curious, how was Finet impacted by the AGE merger? Did it affect your name/logo? Your platform? Your benefits, payout etc? [/quote] Not name/logo/platform or benefits. There was a severe decrease in the service level to Finet branches primarily due to everyone having to move to STL. It was pretty bad and lasted awhile. Surely we were impacted as much as any Wach PCG branch was during that time. Obviously not nearly as rough as the AGE guys had it.[quote=training wheels]Finet management has been just as explicit as DL in stating that there will be retention for Finet. Even at one point going so far as to state that Finet was inappropriately left out of the AGE retention deal and that should be made up for with the Wells aquisition. I am assuming that Profit Formula would also be included in some fashion. Any speculation as to how this package might break out among these different channels? PCG, Profit Formula, Finet? I don’t know any ISG guys bit I hope they get something.
it still is above 100% upfront with back end bonus. Offers are abound, but silly me, I trusted the first time I heard “trust us” and “still working on it”. Wow…tomorrow is 4 months 3 days. Lots of hope that 4 months 10 days will bring the final announcement.
The ISG call didn’t say anything about there being no retention. Nor was it implied. I think MM does not know the answers and is downplaying it because of that. Obviously she wouldnt want to further fan any flames of hope, as it has dragged out so long. Sr mgt at her level is overwhelmed by the incessant requests for information on the subject. Im sure they would like to know as well. These guys want happy FA’s and I think they want to deliver. Its out of their hands. Hopefully the people whose hands it is in do the smart thing and deliver. SOON.
I have heard different. How long ago was it 100% upfront?
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within the last 2 months
[quote=go_huskies] the tone on the isg call seemed to imply there will be no retention for isg. premier advisor call later in the day had regional attempting to spin it, but he sounded wounded.
i’ve been in a good spot, and wasn’t originally concerned much with retention. but after danny offered the, “ISG is effected the most by this merger,” i actually expected something.
i’ve grown my book almost 100% in the 4 years i’ve been here. if they don’t f*ck up the model, staying may be the better choice, but i’m now very disappointed.[/quote]
I didn’t get the “No Retention” tone, just the I don’t know or I’m afraid to say tone!!
ISG should be included, there is no reason to overlook us again~! And by the way, we ALL work for WFC at least for now… dotted line or not - we all generate revenue and all own our cleint relationships! And it sure looks like our jobs (should we chose to stay) will be more impacted than any other channel!
[quote=Ferris Bueller]Because, you festering mancunt, I have also heard the same thing from another source. [/quote]
Do you kiss your wife with that filthy mouth?
3rd id…c’mon bro, it’s been over 4 months. wells is playing hardball, and mm, et al are stuck. it appears wells doesn’t have an advisor force of former wirehouse guys, and believes we’re as replaceable as tellers.
i expect nothing now. i'm putting this distraction to bed. i'll evaluate my options after a few weeks after i stop grinding my teeth over this bs. i'm mad as hell, and feel intense betrayal by those asking we "trust (them)"...i say "f*ck them!" this thread has been great, but time to tune out. i wish you all well. good luck...Now that the Wells Fargo stage coach has arrived with our retention checks. Lets talk about what UBS is going to offer in the form of Retention?
[quote=gauge26]
I know it. I just missed one of the hurdels with my Dec. T12. But like you SAID beggers cant be choosers and it will be a nice check. I think I am going to pay off my house and invest the rest. What I should have done last time. i can then call (cant remember his name) the radio show guy and scream I AM DEBT FREEEEEEEE!!
[/quote] g, As a retention will happen and if at the numbers being prognasticated - I have had the same thought of paying off the house. However, as we should have probably done that last time (in retrospect) this time - it should probably be put into the market. As we say with timing, you have to be right twice - with this - you don't want to be wrong twice.[quote=BE PATIENT]T12 Jan-Dec. Lets see, my wife is best friends with Tad’s wife, [/quote]
Why aren’t you working with Tad then?
Mary made it sound like no retention she mentioned the political and economic environment.
Obviously I do not know a thing just like everyone else on this board. I would guess they may try some def comp instead of cash upfront. Wells caved on a trip for top producers they run away from negative press. Of course I want retention we all do I just have become more realistic that it will probably not be in the form we all hope forMatrix, If you get a upfront from UBS - do you have to pay tax on it - or can you move it to an offshore account? I need to be careful with the taxes in case Obama appoints me to a position.Now that the Wells Fargo stage coach has arrived with our retention checks. Lets talk about what UBS is going to offer in the form of Retention?
Wonder why February 13th is the day for retention? Anybody know why? Well it is because on the 11th of February the most powerful CEO’s in america will be meeting with congress. My guess is that you would not want to walk into that meeting after just paying billions to your employees. This is why MS has waited and this is one reason why WFC has waited too. Did you see what kind of attention a little trip to Vegas got? It was all over the news. Our govt. would have a field day with it. So WFC and MS will have their meeting and when it is over then they will pay up!
So retention is going to be announced Feb 13? Are there any more details than that?
Now that the Wells Fargo stage coach has arrived with our retention checks. Lets talk about what UBS is going to offer in the form of Retention? Matrix, If you get a upfront from UBS - do you have to pay tax on it - or can you move it to an offshore account? I need to be careful with the taxes in case Obama appoints me to a position. I here the Swiss are having a tough time hidding all that US doe. I know one thing is for sure. I guess we all should fudge a little on our taxes and then if we get audited. We say well I thought if the head of the IRS can do it then I can too.
[quote=gauge26]
As a retention will happen and if at the numbers being prognasticated - I have had the same thought of paying off the house. However, as we should have probably done that last time (in retrospect) this time - it should probably be put into the market. As we say with timing, you have to be right twice - with this - you don't want to be wrong twice. I know it. Thats why I said I think I am going to pay off my house. I am strugling to make a decision. I sure hope i have to make that decision. I will have to make up my mind soon.[/quote G, If you want to actual be a good citizen and help the economy - you should take the money and buy one or two vacation homes. This will help with the inventory overhang and if you can do it via short-sale can help out a couple of taxpayers from foreclosure.