AGE payouts

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

Rumor has it that our current payouts at AGE will remain intact for the next year. Anyone hearing differently? That's the stuff that the roadshow should cover but undoubedly won't.  That and money market rates, nickel and dime fees that clients are worried about, etc.

illinoisrep's picture
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Joined: 2007-01-09

These questions were covered in the Q & A portion of the roadshow I
attended last week.  Basically, they said that the payouts would
remain the same through the end of the fiscal year.  Then they
would have a new comp plan that would be different from the one either
firm has.  They say it would be the highest in of all the major
firms, but all the firms that have tried to recruit me in the past
several weeks say they have the highest comp plan in the
industry. 

On the money market rates and fees, Danny said that they have lower
money market interest rates, but less in the way of nickel and dime
fees on households over $250k.  I have yet to verify this. 

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

So end of this fiscal year for the payouts?  Does that mean end of WB's fiscal at 2007 year end or our crazy end of February 2008 year end?  I am being told there are no load type of funds out there that we can manually roll cash into. No trails obviously but a better deal for the client.

Morphius's picture
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Joined: 2007-07-21

illinoisrep wrote:
On the money market rates and fees, Danny said that they have lower
money market interest rates. 

I guess that is Sir Danny's idea of "best practices" that we're aiming for?I can't wait to see what other "best practices" the combined firm will emerge with! 

troll's picture
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Joined: 2004-11-29
Gordon Gekko's picture
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Joined: 2007-07-08

I probably will skip the road show as it's hours from our town and they won't enlighten us at all. Is anyone hearing of defections from AGE that have happened because of the merger (not pre-planned defections)?

illinoisrep's picture
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Joined: 2007-01-09

I have heard of only one defection and he was mostly unhappy with his
branch manager (or so I was old). That may have been pre planned. It has
only been about 7 weeks. I am guessing that it will be three to six months
before any mass exit.

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

The recruiters raise a good point of it being crazy to sign on without knowing all this stuff definitively (payouts, fees, cmmt rates). I think most will stay as we can just repay the loan if we opt for the upfront cash.  I've only heard of one fc leaving and he was not one that WB would be broken up about losing.

nestegg's picture
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Joined: 2007-06-14

I guess no one listened to the comf call on friday??This was addressed...the current payout will be in effect all of this year and at least until the fall of 08 and possibly into spring of 09 before any changes are made

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

no changes thru 3rd quarter of 08; most likely jan 09 new comp plan since ws on a calendar year structure.   

nestegg's picture
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Joined: 2007-06-14

GoingIndy???? wrote:no changes thru 3rd quarter of 08; most likely jan 09 new comp plan since ws on a calendar year structure.   
echo echo echo echo ...

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

The one and only conference call I listened in on was the retention package. I'm just as happy to get merger information on this board. Another year at 40%+ will work!
By the way, I understand that we are not vested completely on the firm match until 2 years from the next December or something. I assume that if you leave, you need to wait until that 2 year period has lapsed to get your full amount - right?

Bache&co's picture
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Joined: 2007-06-18

Gekko - you miss the conference calls where merger news is given to us and would prefer to get the 'facts' from a message board? You're stupid. 

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