AGE Inside Information

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Broker010's picture
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Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I'd get some "Inside AGE Info" from this thread. Don't ask me where I got that stupid idea. 

shredder's picture
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Broker010 wrote:Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I'd get some "Inside AGE Info" from this thread. Don't ask me where I got that stupid idea. 
It will ulimately be in the form of the "contract on your desk". On an encoraging note...I have heard that if you do not want to sign a contract, you will not be required to sign a contract...an interesting number of days ahead. My motto is, "Be positive, stay focused"

Broker010's picture
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You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I've been toying with for well over a year. Good luck!

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Broker010 wrote:You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I've been toying with for well over a year. Good luck!
EXACTLY, good luck to all AGE'ers....fyi Bagby had a guard posted by his car for the last few days....got a giggle out of that. Apparently, the guard is no longer there....

Hydeho's picture
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Omirp222 wrote:
Good points.  I just don't see how they're going to pay for everything and still make their profit goals in the years ahead.  Something has to give, either less support and less money for FC's on the same $$ produced, more production from FC's (on same expense $$) or a combination of the 2.
According to the WS slide presentation, they have some pretty aggressive profit goals for the merged company.

 
They are looking to take AGE brokers to the next level, well most of them anyway! Through May 31 WB Securities is up low 20% area. They think they can take AGE up minimum 15% first year. Figure in the branch consolidations and there is a lot of your money. 401K and personal polies are based on the overall corporate policies. So to cut part would be to cut all 50000+ employees.
 

troll's picture
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Broker010 wrote:I keep hearing all these "they had/have the retention package ready" posts that imply that the poster know what the package contains. They are full of S%*t. Either post the numbers or shut up. I admit I don't have any inside info that every other AGE broker has. I'm looking for info, not trying to make myself look important.
Dude I'm sure you're frustrating but with all these posts you honestly come off as whining a whole lot.  Put your head down and work, and you'll get info you can count on in writing from the mother ship.....

Broker010's picture
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Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you'd watch your language more carefully, I promise.

troll's picture
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Broker010 wrote:Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you'd watch your language more carefully, I promise.
Trust me my friend there is much that I do not know.I did not mean my language nor my directness to offend.  Honestly.  I'm sorry.  I am sure this is stressful to you.  I was merely trying to point out that if you're not getting the information you seek here, then it is only causing you more stress to obsess over it.I know it probably comes across as some Zen-like Phil Jackson b.s., but whatever is going to happen will happen.  Speculating about it will not change it. The best thing you can do to get is to get your ducks in a row and have your head clear.Look at it this way....better to be a producer with a book of business in the midst of all this than to be in middle management in home office!

Broker010's picture
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Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head's down and I'm grinding out my daily production. I've been looking for info that simply isn't available yet. Understand that we've been told, literally as recently as two weeks ago, that our firm "is not for sale" and "committed to remaining feircely independent, so it creates a degree of anxiety. 

Downunder's picture
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OK....some real information. If you haven't seen this yet, it may be informative to some.
Check out these links for 2007 Payout comparisons. I really don't think that WB will make any changes in their payout grids.
http://www.onwallstreet.com/pdfs/wachovia.pdf
http://www.onwallstreet.com/article.cfm?articleid=3558
Hopefully this information sheds some light on what to expect vs A.G. Eddies payout numbers. If you print this out and compare, you will see some major differences.
The biggest concern to AGE FC's would be to take a retention package, sign the 6 year contract, then get caught in a new payout grid as WB is paying out in 2007. That would be very discouraging to all the FC's. Right now, I am told that Bob Bagby has made the statement "payouts will be the same thru 2008", but can anyone really believe what this man tells his employees when he has already mislead all of them with we are "staying independent" then getting the shocking news that he and 6 other "outside" board members made the decision, had been discussing selling back in Nov 2006, and retaining Goldman Sachs to find a buyer. It is hard to believe anything that the present AGE CEO tells his people. Also remember, he is NOT going to be the guy running AGE. It's big Danny now. Bagby is now the puppet for WB.
Next week will be a real test of what WB thinks of the heart and soul that AGE FC's have put into the business building AGE to one of the most respected names on Wall Street. WB can NEVER compare to the tradition and integrity of the Edwards family and what they represent to so many Americans.

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Broker010 wrote:Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head's down and I'm grinding out my daily production. I've been looking for info that simply isn't available yet. Understand that we've been told, literally as recently as two weeks ago, that our firm "is not for sale" and "committed to remaining feircely independent, so it creates a degree of anxiety. 
Well if you're still grinding out daily business then trust me you're ahead of many from what I hear.Then next you just need to come to grips with the fact that there will be some uncertainty for a while.  There's simply nothing you can do about it, except to clear your head of all the doubt and frustration and get the most you can get out of every day.  Make it a point to spend a little extra time playing with your kids(or your wife or girlfriend), or go beat up some golf balls.  At a time like this you need to go a little out of your way to make sure you decompress on a regular basis.lI can only imagine what it must be like.  Frankly I think Bagby pretty much lied to you guys.  I suppose some would argue you can't blame him for cashing out, but the Edwards family didn't do it for over a century.  You would think Bobby boy could have resisted the quick hit.I was there while Ben was running the shop, and remember how cool it was when at the beginning of the home office tour they paraded us all as a class of trainees right into Ben's office to meet him and shake hands.  He had one helluva china collection up there I'll tell you what!  IT was a cool place then.  Ben might have been a nice guy for the most part, with a good sense of humor, but when push came to shove there was no doubt how we were going to do things and who was in charge.I also lived through the Tad disaster.  Seemed like an ok guy, but just wasn't ready to fill his pop's shoes and tried to hard to set himself apart as different.Bagby was obviously different.  So were the political hacks that rode his cottails.  Even still, I would probably still be there but for some challenges I had with local management.Good luck.

AGE_Inside_Info's picture
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Reggin,

You're obviously fresh of the boat.

1) A Series 7 (combined w/ a 66, etc.) is NOT a dime a dozen. Many
independent bds are hard-pressed to find someone w/ this combo. Any
fool can get a mutual fund license or advisor rep license. This combo is
valuable to Wachwards, and they WILLl pay for it / not to lose these
brokers that cost $75K to train and have AUM.

2) ETFs ARE funds. What's your point. CAAP can be ACAT'd but no one
else can manage it, hence my point about AGE creating proprietary value.

3) BMs and top dogs are getting packages and have to sign before low
level producers are getting anything. This is Inside Info. I already said
this. The retention grid is speculation, but one of many scenarios AGE has
tossed around. I long said they will offer to pay the under $150K
producers. This is Inside Info. Accepting at this level for 6 years of
enslavement makes one a moron. The one thing they won't lose is home
office staff. Trained monkeys are hard to untrain. AGE takes a lot of high
school grads that have no ambition and trains them w/ one skill - to push
A SINGLE KEY on a computer for 30 years, but only pay them $25K-$38K
a year.

4) What's Burger King? Is that the restaurant that has a gay king as a logo
and the "Wake Up With the King" commercials?

I'm sorry, the only cooks I know work Babbo, Trotter's, French Laundry.
Your clients must love dinner out on you.

I have SOME Inside Info. I never claim to know everything. This is now a
forum for anyone w/ Inside Info. 010's BM's suspicious behind-cloed
doors conference call is very revealing. If he really is buddy buddy with
them, he'll have better Inside Info. than me tomorrow.

Baller's picture
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AGE_Inside_Info
I've patiently read through all of your posts, including the last one with rambling about fine Napa restaurants and have come to the conclusion that you should change your username to knownothingspeculator.
Stop posting, nothing you post has value.  Anyone else agree?

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The "merger agreement has been filed with the SEC....Section 6.12 states that WB will compensate the AGE FC's as if they were at AGE. In essence, I really don't think that AGE FC's should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC's, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC's, even though AGE will be integrated into WB. The only big question will be what's in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC's whose heart and soul has gone into their business's and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC's will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC's, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good.

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I almost forgot to let you all know what went on in the BM's closed-door meeting Wednesday afternoon. It was a private (speakerphone) call with our region manager, who claims to be as in the dark as we are at this point. Both my BM and asst. BM are, in fact, close friends and I believe them ALWAYS. Sorry this wasn't more. Obviously Inside-Info doesn't have any. Unfortunately, neither do I nor does anyone else on this post. Good luck, guys!

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Downunder wrote:The "merger agreement has been filed with the SEC....Section 6.12 states that WB will compensate the AGE FC's as if they were at AGE. In essence, I really don't think that AGE FC's should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC's, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC's, even though AGE will be integrated into WB. The only big question will be what's in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC's whose heart and soul has gone into their business's and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC's will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC's, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good.
 
Now THAT was an informative post.  Sums up what I've been thinking, but good to hear it from another.  Package comes next week.  Relax and have a drink.

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Baller, I read the SEC Merger agreement, too, but didn't give it any weight, because it has no bearing on forward-looking policy. All it is is an SEC requirement. It does not bind the party's as to their future behavior. BUT both of your points is VERY well taken. Life is/will be good. I'm on my second drink right now. Cheers!

advisor28's picture
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Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 
PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

shredder's picture
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advisor28 wrote:
Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 
PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

Wednesday-Thursday is more likely. I hope all the regionals put up a good fight.

troll's picture
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joedabrkr wrote:Even still, I would probably still be there but for some challenges I had with local management.
hmmm.. let me guess.  You had a know it all attitude, an answer for everthing, and spent too much time posting on the internet?

troll's picture
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Ferris Bueller wrote:joedabrkr wrote:Even still, I would probably still be there but for some challenges I had with local management.
hmmm.. let me guess.  You had a know it all attitude, an answer for everthing, and spent too much time posting on the internet?Yep that's right.  You caught me.....

AGE_Inside_Info's picture
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Baller,

You PATIENTLY read through my posts. If you were patient, you wouldn't
be a broker. I don't give a sh*t about your posts, so I "patiently" searched
for no more of them.

I know somebody who already got their offer. BM. 100 percent plus bonus
based on getting certain big producers to come with him.

Then I have some Inside Info. that I cannot post here, or it will give me
away.

Since no one responded to your post about me not posting, I'll keep
posting. Then again, MAYBE I'll find something new out next week, not
post and wait to see who the first to get it is.

Have your drinks this weekend. Most will get something. It won't be equal
and fair, either. If you want fair, go home and watch Barney.

liquid's picture
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New to this forum, like some others here just wanted to add my two cents (hear my head rattle). Most AGE BM's have heard (not seen) their package, remainder will be called from StL meeting Monday. Make your BM nervous? Don't "buy in" just yet!

advisor28's picture
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Inside info, my posts were not a guess.

troll's picture
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AGE_Inside_Info wrote:Baller, You PATIENTLY read through my posts. If you were patient, you wouldn't be a broker. I don't give a sh*t about your posts, so I "patiently" searched for no more of them. I know somebody who already got their offer. BM. 100 percent plus bonus based on getting certain big producers to come with him. Then I have some Inside Info. that I cannot post here, or it will give me away. Since no one responded to your post about me not posting, I'll keep posting. Then again, MAYBE I'll find something new out next week, not post and wait to see who the first to get it is. Have your drinks this weekend. Most will get something. It won't be equal and fair, either. If you want fair, go home and watch Barney.
 
I'll respond.  Stop posting.  Now will you go away?  I'm with AGE and you haven't added anything that I didn't already know.  So your inside info is bull$sh*t.  Then you say you do have some info that you can't post?  You are a troll.  Go away trollboy.

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Broker010 wrote:Inside_Info., Are you mplying by your last post that your "inside info" confirms the retention package that's been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info....that I don't already have as an AGE broker. I look forward to your explaination.
 
Broker010 - He won't answer this because he CAN'T.  He doesn't work for AGE and has no clue.  He's an internet troll.

AGE_Inside_Info's picture
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Judging by all the private messages I've been getting, some brokers must be
attracted to trolls. (BTW, ymh ymh ymh - tried to respond in depth to you w/
a little new info. because you were so nice, and you have exceeded your
limit on private messages).

Ferris, Liquid just confirmed something I was the first to point out re: BMs
getting packages early. I am in contact w/ a BM who has gotten a 100
percent offer plus a bonus based on which big producers in his office he can
get to sign on the dotted line. If, you, FB (F_ckin' Bile) already knew this, you
certainly did not say.

AGE_Inside_Info's picture
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And one more thing, FB, if you don't know my connection to AGE/the
industry, then I am accomplishing exactly what I want on this forum (TO
STAY ANON).

You just wish I would come out and say, "Worked in the Janesville, WI AGE
office from 1997-2001, left to go Indy with RJ, made a pile of money and
now run the biggest hedge fund in Oklahoma...um, yeah.

troll's picture
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Broker010 wrote:Inside_Info., Are you mplying by your last post that your "inside info" confirms the retention package that's been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info....that I don't already have as an AGE broker. I look forward to your explaination.
ANSWER THE QUESTION.  If you really know what you say, then you will be able to answer this question.
The next post you make should contain your 'guess'.  If next week you are right, I will leave this forum and never return.  Put up or shut up.
 

troll's picture
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Just what I thought.

Downunder's picture
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Ladies & Gents:
There is no inside information to be had. Any posts here is pure speculation, and be assured, nothing will be final and dertermined until the Regional Managers come here to St. Louis today for tomorrow's meetings. They are expected to be lengthy and very detailed. The Regional Managers will have some major input and everyone should just sit tight. Don't look for any major annoucements on Monday, Sr. Mgt has stated that more will be coming the week of the 11th, not necessarily the 11th. So this will be a interesting week for all. Just sit tight, relax, drink some iced tea, your favorite beer or mixed drink, and next week will finally lend some guidence for all those AGE FC's out there.
I really doubt that anyone really knows anything, and be sure to know that AGE Sr Mgt will NOT leak anything. Just think of how well they managed the situation up until the annoucement of the sell out.
Be patient and enjoy the weekend. Relax, and plan your next move.

Reggin's picture
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AGE_Inside_Info wrote: Judging by all the private messages I've been
getting, some brokers must be
attracted to trolls. (BTW, ymh ymh ymh - tried to respond in depth to you
w/
a little new info. because you were so nice, and you have exceeded your
limit on private messages).

Ferris, Liquid just confirmed something I was the first to point out re: BMs
getting packages early. I am in contact w/ a BM who has gotten a 100
percent offer plus a bonus based on which big producers in his office he
can
get to sign on the dotted line. If, you, FB (F_ckin' Bile) already knew this,
you
certainly did not say.

I call bullsh*t here. My branch is in the top 25 for production and profit
and there have been no offers.

Here's my take on why you're here. You are an EX AGE broker that is
bitter about the way you left and that you are not still there to get an
offer. When you left, you took less clients than you wanted and am now
hoping that the ensuing chaos allows you to rebuild your book.

I agree with the prevailing thoughts here. Put up or shut up.

Broker010's picture
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Obviously, Inside_Info is full if S%*t. The #5 producer in the company is a BM of our former parent branch office, 5 miles from mine. My BM is a President's Council member and a good friend of mine. They have had no offer. Why, pray tell, is Inside's  anonymity so important to him? It's all a smoke screen, for anyone hasn't figured this out yet. Hell, I'll give any of you who care my name address and phone number and invite you down for a day on the boat, if you want. Inside has nothing going on and needs an ego stroke. Sorry if I've insulted any of your intelligence with any of this.

troll's picture
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Regarding Inside_Info: I called him out and now he's vanished.  What a loser.

ymh_ymh_ymh's picture
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I cleaned out my private message in-box. Apologies to AGE_Inside_Info and anyone else who attempted to PM me.
LoveLEHGirl@aol.com works and I am not with LEHman Brothers.
I don't have a dog in this hunt (not long/short AGE/WB to include puts/calls, not with either firm).
 
 

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Ymh, You'd think you'd have realized by now that this post is for those "with a dog in this hunt". No one cares with whom you are not, nor whether you have or are a dog of any kind.

troll's picture
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Broker010 wrote:Ymh, You'd think you'd have realized by now that this post is for those "with a dog in this hunt". No one cares with whom you are not, nor whether you have or are a dog of any kind.
Dude-  If you google YMH's email address or "Yolanda Holtzee" you'll see that she is making said disclosure because she runs some serious dollars and wants people to know that she isn't trying to influence the market for anything she trades.Yolanda is a long time poster here, and is seriously plugged-in and the real deal, IMHO.

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Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren't currently interested, in this venue at least, in someone "seriously plugged-in and the real deal", not pertaining to or specifically related to "the real deal" aforementioned.

troll's picture
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Broker010 wrote:Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren't currently interested, in this venue at least, in someone "seriously plugged-in and the real deal", not pertaining to or specifically related to "the real deal" aforementioned.
No worries man.

troll's picture
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Broker010 wrote:Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren't currently interested, in this venue at least, in someone "seriously plugged-in and the real deal", not pertaining to or specifically related to "the real deal" aforementioned.
 
Translation:  Take a hike Joe.

Hydeho's picture
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joedabrkr wrote: Broker010 wrote:Ymh, You'd think you'd have realized by now that this post is for those "with a dog in this hunt". No one cares with whom you are not, nor whether you have or are a dog of any kind. Dude-  If you google YMH's email address or "Yolanda Holtzee" you'll see that she is making said disclosure because she runs some serious dollars and wants people to know that she isn't trying to influence the market for anything she trades.Yolanda is a long time poster here, and is seriously plugged-in and the real deal, IMHO.
 
I think the word you were looking for is "GADFLY"
 

CutterJon's picture
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Broker010 wrote:Obviously, Inside_Info is full if S%*t. The #5 producer in the company is a BM of our former parent branch office, 5 miles from mine. My BM is a President's Council member and a good friend of mine. They have had no offer. 
Just to beat a dead horse, I'm a BOM and Chairman's producer...no offer.  I haven't spoken to a BOM in the system who's had one, and if it had happened news would spread.
If you want to guarantee a mass exodus give the BOM's info on their deal before your producers....that would be bright, wouldn't it? 

ymh_ymh_ymh's picture
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For the naive AGE brokers here (rookies in the biz), WB probably learned their lesson on the PRUSec "merger of equals" with respect to NOT courting the BM's.
PRUSec had a policy which precluded BM's from managing a book. Some got around this by having the assistant BM or a pal manage their book "on paper." WB, for some reason (probably that one) did not "court" the BM's. They knew they would consolidate many of the branch offices so their rationale was "why attempt to retain BM's with no books when we'll have to put some of them out the door eventually anyway."
Well, that backfired on them because the head of private client at PRUSec bailed for a competitor then unleashed an army of headhunters to recruit BM's. The BM's jumped ship, then they cherry picked their PRUducers (1st quintile types) to jump ship, too.
I am amazed by the number of AGE brokers who post here who are not aware of how history often repeats itself over and over again. I surmise the ones who don't understand are rookies in the biz (under 5 years).
It makes $en$e (cents) that WB is courting your BM's. Your BM's manage books (in some cases big ones). The stakes are much higher retaining your BM's.
FD: the same disclaimers as last time
For those of you considering going independent, the November 2006 issue of Registered Rep may be of interest to you.

Reggin's picture
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CutterJon wrote: Broker010 wrote:Obviously, Inside_Info is full if S%
*t. The #5 producer in the company is a BM of our former parent branch
office, 5 miles from mine. My BM is a President's Council member and a
good friend of mine. They have had no offer. 
Just to beat a dead horse, I'm a BOM and Chairman's producer...no offer.  I
haven't spoken to a BOM in the system who's had one, and if it had
happened news would spread.
If you want to guarantee a mass exodus give the BOM's info on their deal
before your producers....that would be bright, wouldn't it? 

It's painfully obvious that AGE_inside_info doesn't know anything. I think
we've finally driven that idiot away.

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yhm, If you think WB will repeat the disaster of the Pru deal, then it is you who are (painfully) naive. You may want to spend your time elsewhere rather than troll a site specifically intended for AGE brokers instead of staying here entering stupid, useless posts intended to insult AGE brokers. Not only do you NOT have any information for those who seek inside AGE information, but yoru preaching has gotten old. You may go now.

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Joined: 2007-06-03

Yolanda - or Yolanda. M. Holzee (ymh ymh ymh)...

I have decided not to respond to you privately and give you juicier bits,
because you outed yourself as an industry watchdog/whistleblower.
RegisteredRep wrote an article about you in December wanting to be SEC
Chairman. Exposing your identity isn't too bright. People w/ political
aspirations get to know real people NOT other Internet trolls (haha).

Where I do know Yolanda Holzee has true insight is that she had an army
background and clearly understands the dynamics of power and herd
mentality. This is mainly a response to Yolanda, but to all else, I know
ONE BM who has verbally been given a very substantial offer because ML
has been on his ass for almost a year, and they are going to likely have to
match that. YMH is exactly right w/ the rationale for taking care of the
top first. Retention grids are irrelavant at this point, 010. Mothing set in
stone, and they are being very careful in how they present this. We are
not socialists, and I already have prrof that one BM is being given extra
incentives to stay.

Whoever said that AGE is the only firm that is a bastion for laziness or
something like that is right. They have to take care of BMs and top dogs
first to determine what they are willing to offer to keep all the $150-
$250K producers. BMs at AGE have A LOT of sway. They are like kings
with their $1M books, overrides, bonuses. AGE HQ realizes that if BMs
stay, a lot of mid-level producers will stay. Just read all of Broker010's
claims that he's so tight w/ his BMs. His BMs would stab him in the back
in a minute. He's naive. Everyone at AGE thinks they are golden if they are
in good with a BM...

I never intended to claim to have ALL the inside info. or a contant feed to
new stuff, just to get a forum of Inside Info. going. Of course, it's turned
into a lot of speculation...that's only to be expected.

Half the stuff I know, I don't even want to say publicly in the forums.
Many of my AGE feeds that are newer to the biz have interviews lined up
with other major wirehouses. I don't care who you are, you are very in
demand right now with a 7/insurance/66. Headhunters are even calling
the little guys I know many times a day. It is a big risk for a firm to pay
someone to study, when only about 64 percent of brokers pass the first
time. No one wants to sign a contract and take a risk on someone
unlicensed if they do not have to.

Also, a lot of the big Indy bds now pay up front money for $125k gross
and above. This is a fact, but I think some of the jerks on this site don't
deserve to get even $30K up front to open their own Indy shop. I'd rather
see them lock themselves into 6 year contracts and have their pay slashed
in 2008. As per claims that I want to use other firms' chaos to build my
book. This business is about relationships, not bad mouthing the
competition. The news speaks for itself.

For the last time, I started this thread as an open forum for Inside
Information. Any body can post theirs...

AGE_Inside_Info's picture
Offline
Joined: 2007-06-03

Yolanda - or Yolanda. M. Holzee (ymh ymh ymh)...

I have decided not to respond to you privately and give you juicier bits,
because you outed yourself as an industry watchdog/whistleblower.
RegisteredRep wrote an article about you in December wanting to be SEC
Chairman. Exposing your identity isn't too bright. People w/ political
aspirations get to know real people NOT other Internet trolls (haha).

Where I do know Yolanda Holzee has true insight is that she has an army
background and clearly understands the dynamics of power and herd
mentality. This is mainly a response to Yolanda, but to all else, I know
ONE BM who has verbally been given a very substantial offer because ML
has been on his ass for almost a year, and they are going to likely have to
match that. YMH is exactly right w/ the rationale for taking care of the
top first. Retention grids are irrelavant at this point, 010. Nothing set in
stone, and they are being very careful in how they present this. We are
not socialists, and I already have prrof that one BM is being given extra
incentives to stay.

Whoever said that AGE is the only firm that is a bastion for laziness or
something like that is right. They have to take care of BMs and top dogs
first to determine what they are willing to offer to keep all the $150-
$250K producers. BMs at AGE have A LOT of sway. They are like kings
with their $1M books, overrides, bonuses. AGE HQ realizes that if BMs
stay, a lot of mid-level producers will stay. Just read all of Broker010's
claims that he's so tight w/ his BMs. His BMs would stab him in the back
in a minute. He's naive. Everyone at AGE thinks they are golden if they are
in good with a BM...

I never intended to claim to have ALL the inside info. or a contant feed to
new stuff, just to get a forum of Inside Info. going. Of course, it's turned
into a lot of speculation...that's only to be expected.

Half the stuff I know, I don't even want to say publicly in the forums.
Many of my AGE feeds that are newer to the biz have interviews lined up
with other major wirehouses. I don't care who you are, you are very in
demand right now with a 7/insurance/66. Headhunters are even calling
the little guys I know many times a day. It is a big risk for a firm to pay
someone to study, when only about 64 percent of brokers pass the first
time. No one wants to sign a contract and take a risk on someone
unlicensed if they do not have to.

Also, a lot of the big Indy bds now pay up front money for almost anyone.
This is a fact, but I think some of the jerks on this site don't deserve to
get even $30K up front to open their own Indy shop. I'd rather see them
lock themselves into 6 year contracts and have their pay slashed in 2008.
As per claims that I want to use other firms' chaos to build my book. This
business is about relationships, not bad mouthing the competition. The
news speaks for itself.

For the last time, I started this thread as an open forum for Inside
Information. Any body can post theirs...Busy week ahead; think I'll just sit
one out (FB and 010 can rejoice).

Broker010's picture
Offline
Joined: 2007-06-01

"Retention grids are irrelavant at this point, 010" - Inside_Info Inside, thanks, but I'll decide what's relevant at this and every other point. I'm not the one going by the handle AGE_Inside_Information. As to not wanting to post half of what you know, this is a mathematical impossibility, it's impossible to divide any number by zero. It's astonishing that you can type for what must have been an hour and say abosolutely nothing. Wow!

ymh_ymh_ymh's picture
Offline
Joined: 2005-09-05

AGE_Inside_Info:
There's a T in Holtzee, but that's okay and my "intent" as stated in responding to your posts as well as a few other posters is to make everyone aware it's indeed a "dog eat dog" world out there and when firms merge/acquire one another, often times somebody gets more than his/her fair share and others get crumbs.
I expect this acquisition will be no different. The headhunters are salivating and some have already posted here to offer their help. I advise AGE brokers to listen, look, but not leap too fast as the first offer may not be the best one.
Overall this forum can be very helpful, especially to rookies (persons with 5 years or less experience in the financial services sector).
Thanks, AGE_Inside_Info, for reminding me to clean out my in-box.
 
 
 
 

Broker010's picture
Offline
Joined: 2007-06-01

Yolanda, I just read your bio. I am having trouble understanding what you're looking to add to/take from this thread. If you're looking for AGE inside info., I'd think you'd take a more passive role (I.E. not actively posting). You certainly have nothing to add on the topic and have asserted that you have "no dog in the fight". Maybe you should spend this time going after Index-Linked annuity pushers or proprietary funds that have 2.5% expense ratios and under perform the market by 50%, for example.

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