500 or bust?
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i've got a call into a wells broker tomorrow, i'll post what i find.
wells isn't paying pcg, and they certainly view us captive. don't expect much, just reaffirm to everyone that the name on the card is merely an address. once the market bounces, you can move with greater confidence unless wells really has something to offer.huskie - wells does not want to lose the people hat make up the most profitable part of the bank. i think they have to pay us we did have to sit in the branches and deal with the banking client when we almost went under.
I couldnt agree with you more Stumpfed. I think the odds of anything meaningful are slim to none at this point.
dream on buy low…they’re making a bet, and it’s going to come up craps. no rentention and there will be an initial wave of isg brokers leaving. then it will subside. wells will feel it’s over. if they don’t deliver a real opportunity, the leaking will ensure and tidal wave will crash by this time next year.
it's not looking good for any channel. this firm could really be beyond fixing shortly...as i said earlier my manager made it very clear today that the news on retention is going to be very BAD. Lets stop hoping something good happens. All the signs point to a really bad outcome. Wake up fellas
Can't do it. If somebody leaves have round robin all of the accounts to everybody that remains per big brother Wachovia. No cherry picking.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!
Can't do it. If somebody leaves have round robin all of the accounts to everybody that remains per big brother Wachovia. No cherry picking. [/quote] That's right. The salad shooter in HQ passes out the accounts by production. The BOM has nothing to do with assigning accounts any longer.[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!
To me good would be 40-70% upfront cash. Bad would be higher payout for a couple years.What would be considered good, what would be considered bad?
wondering if we hit 300 after non-commit conference call of hmmm, uhhhh, geeee… We hear complex manager due for visit next week… Must be damage control.
Hypothetically… If they say no front but 70% straight payout for two years would you walk or stay?
I dont get how a higher payout is even considered retention. Not like you have a contract to stay for 5 yrs. Not like you have to pay it back. Its not really “Retaining” anyone. If its a 70% payout on grid, not the worst thing in the world. 50% in this mkt would be like doing last year over probably. Whatever it is, this whole fiasco is one big cluster F…
I would stay for that....ramp up T12 for two years. Get two years down on existing loan. Then hope for another retentions when UBS/WS complete JV.Hypothetically… If they say no front but 70% straight payout for two years would you walk or stay?
There is no way they can come up empty handed or with some weak higher payout bs. Firms are paying retention and big recruiting dollars. DL and JH know the market is strong for advisors. They would probably love to deliver the best retention on the street for their troops. They only way they come up lame is if WFC cuts them off at the ankles. That would make them look like clowns, and give the appearance that WFC just doesn’t care about the FA’s.
The FA's will know soon enough -- the big elephant in the room isn't going away.. fa's might be but the elelphant isn't until retention is addressed.I think an accelerated payout right now is wishful thinking as well. Bad to me is nothing. WFC wants to get rid of us and needs to buy time to figure out best way to do this. Reality is the conference call will be to explain that its gonna be more time before we know anything due to mkt conditions.