AG Edwards Wachovia merger 1 year later

7 replies [Last post]
Tarpon's picture
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Joined: 2007-06-12

I'd like to hear from the reps that stayed with AG and how the merger into Wachovia has been.  Has WB lived up to its promises? Have payouts remained fair?  Are clients happy?  Are clients realizing any banking benefits?  What was the biggest shock or surprise?
 
Also if you left AG and jumped to another firm, how is that going?
Thanks.

shredder's picture
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Joined: 2007-06-04

Tarpon wrote:I'd like to hear from the reps that stayed with AG and how the merger into Wachovia has been.  Has WB lived up to its promises? Have payouts remained fair?  Are clients happy?  Are clients realizing any banking benefits?  What was the biggest shock or surprise?
 
Also if you left AG and jumped to another firm, how is that going?
Thanks.
Why would anyone want to leave??? Everything is just GREAT!!

Gordon Gekko's picture
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Joined: 2007-07-08

Stayed, not much has changed other than an economy in the toilet and a wad of cash in my bank account thanks to WB. Payouts won't change for a little while I hear.

troll's picture
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Joined: 2004-11-29

My biggest complaint is the constant meaningless meetings.  Otherwise, I like the new products available and love the check I received.

BloodShot's picture
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Joined: 2008-04-04

I left last year before the deal was complete to go to RJ and it was the best business decision I could have ever made.  I was perfectly happy with the old AGE, but the merger gave me a legitimate reason to make a change that was both beneficial to me and my clients.  As for what I gave up in bonus money, I figure that will be made up in less than two more years with higher payout and the company stock. 

Gordon Gekko's picture
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Joined: 2007-07-08

Did Ray Jay pay you anything for moving over? That would be the one place I'd consider.

BloodShot's picture
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Joined: 2008-04-04

I did get a good amount of RJF stock (100% vested in 5 years).  Transition assistance of 7% of trailing 12 applied toward furniture, phones, technology and marketing.  They also covered the majority of my clients account transfer fees and that was huge.  Honestly, I smile everyday I come in to work because now I'm in control and that is what I wanted.

Broker Fee's picture
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Joined: 2004-11-30

What are the latest retention numbers, last I heard WS had not lost more than 20%-25% of premerger AGE brokers. They have to happy if those numbers held up. 

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