500 or bust?
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Even if there is an announcement tomorrow - after all of the delays and false deadlines - how can there be much faith and credit left in management?
From here forward, any and all announcements, deadlines or promises are going to be viewed with skepticism. How does DL rebuild credibility. The last thing I want to do is have to move my book. But, I also don't want to be where I am not wanted.Talk about irony - Saturday is Valentines day and here we are.....getting no 'love.'
Here it is
for AGE legacy 0-250 25% 250-500 40% 500-750 60% 750-mil 80% 1 mil 200%upfront and 100% backend For WB Brand new set of steak knives.Idiots all idiots. I watched the fiasco that Barney Frank had on tv yesterday, after that I have a hard time believing any of us will get up front money. As I said 2 weeks ago a larger payout and or def comp is all we will probably get. Of course wtf do I know its just my guess.
I’m confused…again…buy_low13 said his manager (ISG) told him retention to be announced Friday…he was in St Louis,etc,etc…now Stumpfed (ISG) says his manager said retention was not mentioned in St Louis…Does anyone have a clue???
I GOT IT!!! dl just wants to bring the firm back to that small regional feel ala ag edwards. he does this by pissing off at least 1/2 the force, driving them to other firms. now with about 7500 brokers, he’ll regain the comfort of a regional.
who said this guy isn't brilliant???At the end of the day…
its time to man up and decide if you want to walk…
you can all play bad ass and say its nothing.
your full of crap
its 60-90 days of MF hell.
i heard complete opposite from my manager that just got back from st louis and he feels that out of all the channels we will get the best retention do to this effecting us the most i do not know how much truth there is to that he also said that there was talk of retention and that they where threatened with there jobs if they said anything
all of the top producers in my region got that text msg. maybe he is just bullshiting us so we dont leave
buy_low13…Thanks for the info…I hope your manager is right and your info is solid…
at this point who knows what to believe.I started at Pru 10 yrs ago and it was a very positive move for me. The technology was good (compared to the crap system we have now) and you could reach out to people in different departments in NYC that went out of their way to help you. The last 4+ years has been misery with WB, one problem/excuse after another.
The bad part about this is that there doesn't seem to be better options when you look around.
I don't know what to expect as far as any retention, but I've learned not to expect anything more than the minimum from this group, especially with the way the business conditions are now.
Let's keep our fingers crossed for something reasonable- good luck, everyone!
i bet he also tells his wife how much he loves her before he leaves to spend the night with his mistress... stand up guy i'm sure...i heard complete opposite from my manager that just got back from st louis and he feels that out of all the channels we will get the best retention do to this effecting us the most i do not know how much truth there is to that he also said that there was talk of retention and that they where threatened with there jobs if they said anything
he also said that they have done studies and that isg guys usually only take 25% - 30% of assets when they leave on average. So if that there thinking they might pay us shit and then recruit someone new to fill our seat and keep assets and get new ones with the new guy. all i know is that in my office there are 3 of us doing over 1.5 million a yr and 2 doing over 750K a yr. and 2 of the mil+ guys and 1of the 750+ guys have deals on the table they say no upfront they are out of here. I am sure they will screw us some way shape or form. they will give us retention and then change the whole set up and we will be in hubs and not in branches and will be allowed to meet with clients with 250K plus in assets and cut our pay out. Sounds like B of A’s set up and that would suck.
[quote=Ferris Bueller]I told my manager that I’ll stay and all he has to do to keep me is let me cherry pick the accounts of the twitchy fools in my branch that leave![/quote]
You really think those accts will stay?
i was referring to your manager... those isg #'s are skewed. since the wirehouse wave began in 03 (i moved to isg in 04), the traditional moronic bank brokers are gone. when they left, they had no idea re: how to transition clients. the brokers that did leave intentionally left behind the mass of <50m accounts in b shares sold by the original hacks. the new breed of wirehouse-trained isg advisor will move 70-80% of his book if/when he chooses to leave. no one in my region is bent on leaving due to no retention as the opportunity is still huge. if this clusterf*ck mismanagement continues, the next step is indy for a group of us. hopefully into a stronger market in 2010that would be funny if i was married and i am not that stupid