[quote=shredder]

R Jones, obviously you know nothing about Financial service industry. we really dont care about our clients portfolio or the relationship we have with them.  our job is to make as much money as we can especially in this environment and I hope that we get at 50 percent of our trailing twelve.  another 400k in my pocket be great.

anyone see this.

Saw it and assume nothing is coming from Wells. I think 99% of AGE guys see the writing on the wall and are doing their homework. It actually has not a lot to do with the money. It’s the four name changes in 17 months that has us looking.

[quote=skbroker]

R Jones, obviously you know nothing about Financial service industry. we really dont care about our clients portfolio or the relationship we have with them.  our job is to make as much money as we can especially in this environment and I hope that we get at 50 percent of our trailing twelve.  another 400k in my pocket be great.

A regional manager for WB told me in confidence today that part of the anticipated upcoming retention bonus will be for WB/WFC NOT to retain any broker with a LOS of greater than 5 and TTM less than crest club.  In other words, they will walk you out and forward all outstanding commissions and belongings to you.  They would rather have empty offices than non-producing brokers running up the expenses.   

A regional manager for WB told me in confidence today that part of the anticipated upcoming retention bonus will be for WB/WFC NOT to retain any broker with a LOS of greater than 5 and TTM less than crest club.  In other words, they will walk you out and forward all outstanding commissions and belongings to you.  They would rather have empty offices than non-producing brokers running up the expenses.   

I love these rumors! In a year when the market has (hopefully) settled down I want to fact check these posts. Priceless!

they may have been los less than 5 yrs. plus that’s recruiting bonus not retention.

[QUOTE]

A regional manager for WB told me in confidence today that part of the anticipated upcoming retention bonus will be for WB/WFC NOT to retain any broker with a LOS of greater than 5 and TTM less than crest club.  In other words, they will walk you out and forward all outstanding commissions and belongings to you.  They would rather have empty offices than non-producing brokers running up the expenses.   

So did fc’s listen with bated breath to Danny’s cc today? I assume nothing new was discussed other than the AGE 401k isn’t sweeping as originally planned to WB’s soon-to-be defunct 401k.

Slightly off topic.  I wonder if Wells Fargo will keep the 1-3% profit sharing contribution component that WB recently added. 

I hear (which means nothing) that they will wait a while to let the dust settle. Public perception might matter.

Hahahahahahahah!!! You guys are hilarious!!! Especially the legacy AGE folks. You’re honestly looking for another retention bonus after all this? Every detail about the WB deal was a blatant lie from the get-go, then, WB becomes insolvent and is absorbed by Citi…no, sorry,…Wells?? If you have any clients left, what do you suppose they think about all that??? (“Sure Mr. or Mrs. client, the market, and your account, has TANKED, largely due to the malfeasance of companies like mine, we’re basically bankrupt, but, hey, everything’s OK.”). No wonder my phone at LPL rings off the hook all day long! You inertia-controlled drones deserve whatever “package” (read, “shit sandwich”) they serve you this time. Hahahahahahahah!

time will tell.  I’m nearing 5 years and am in top 15% of training class with $250k trailing.  don’t think that is out of line with other classes.

I’ll be content if the package was simillar to age/wb deal.  sucks to be merrill broker who’s doing less than 750

Seems as if these firms want older, established brokers.  Do any of them think about what happens 10 years from now when those guys retire?

in looking at the last retention dont expect too much for the young guys doing less than 250k but what do I know. I m in my 8th year doing doing little under 600k and I’ll be content with 40% upfront and maybe 20 backend

next retention package will be smaller for anyone under 500, just like merrill.  this business is about being in right place at right time - namely when someone takes you under their wing.  yet to see anyone make it completely on their own.