500 or bust?
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Be Patient you were finally told the truth. I told you so Who is the miss informed DF nowHypothetically… If they say no front but 70% straight payout for two years would you walk or stay?
Be Patient give it up you have had bad info from your source for 200 pages.You are DF. It is not Friday yet Dip S—.
Why are you guys crying over possibility of no retention. If UBS and Morgan are offering these 200 percent or more deals for big boys why not take those instead of whining and crying.
Good question Two reasons: 1) Most of the guys here do not do the gross they say they do, so they would not get 200% 2) It takes some brass bals right now to move because lots of your clients will tell you to f- yourself..guys know that.Why are you guys crying over possibility of no retention. If UBS and Morgan are offering these 200 percent or more deals for big boys why not take those instead of whining and crying.
You are DF. It is not Friday yet Dip S—.
BP - the honeymoon is well over, AGE folks can handle transition with new platform, we did with beta conversion/client one...what is new to us is such a lack of communication and the bulls**t that has flowed since the merger of AGE/WB. Yes my guys/gals will have to make the decision on what is right for our clients, staff and us. We have been "patient" for 18 plus months - we await the call tomorrow and hope for the leaders to pull this debacle together so we may get back to what is number one...our clients. I just would like to be able to communicate who we are now. The rest will be written in history.
Da&n sure hope you’re right and that my manager was just covering. Us ISG guys do get kind of comfy in our setting and going back to a wirehouse can definitely be daunting. However, there is life changing money out there right now and it’s never been easier to move clients. I think the analogy of this industry being musical chairs right now is dead on, and I don’t wanna be caught standing. This may be the last chance I get to move and get paid well for it. I am prepared to make that move if nothing is announced tomorrow.
And, what Wells needs to understand that is very different about us than, say, PCG. We control ALL of our clients assets, including their bank deposits. If I leave, it’s not just the investment revenue they’re going to lose. They’ll lose millions in deposits and loans, too. We have relationships with the most affluent customers of the bank. We control those relationships. That’s not easily replaceable.
i did 460m last year…off the radar for the majors. regionals have little presence in my area. i still can build my biz here despite the clusterf*ck mgmt.
whining?...i thought this was 'fight club'You’re exactly right. That number used to be 30%. With what’s happened now, I know I can take just about everyone I want to take. Heck, I’ve had clients asking me to leave and take them with me! Just point out the numerous lawsuits and, now, the lowest Tier 1 capital ranking in the industry. It’s not far-fetched to think that 3 months from now WFC won’t be going through the same thing WB did in September!
talked with my RM tonite and (unbelievably) he is not sure of much of anything except that it's VERY LIKELY that no announcement until next Tuesday now and a virtual certainty that the deal is NO UPFRONT. He has heard that they are still not sure how to structure the deal because Wells is insisting on NOTHING upfront and DL is fighting tooth and nail for SOMETHING to keep guys in their seats. Amazing to me that nobody knows at this hour for sure when they are going to attempt to sell this. Stumpf thus far is refusing to participate in CC....He did say it's such a circle-jerk right now that he doesn't know anyone who knows anything for sure.
[quote=go_huskies]i did 460m last year…off the radar for the majors. regionals have little presence in my area. i still can build my biz here despite the clusterf*ck mgmt.
whining?...i thought this was 'fight club'[/quote] Guy from WS just went to MS doing about 450K, he got 125% up front and 50% backend, which in this market might be tough to hit. We just brought in couple doing 250K or so, which replaced his gross if they repeat it. Anyone saying only big guys can move is wrong. That MS office where the guy above went has 20+ empty seats.Hang on now Stumpfed - since us AGE guys hooked up with WS we have cross-sold all of our clients. We now have their Command Accounts, we have their personal aircraft loans, their HELOC, their AALOC, the credit card, Primary Mortgage and access to 12,000 ATM machines.....don't sell us short. lol
And, what Wells needs to understand that is very different about us than, say, PCG. We control ALL of our clients assets, including their bank deposits.
[quote=bazbuzz]
talked with my RM tonite and (unbelievably) he is not sure of much of anything except that it's VERY LIKELY that no announcement until next Tuesday now and a virtual certainty that the deal is NO UPFRONT. He has heard that they are still not sure how to structure the deal because Wells is insisting on NOTHING upfront and DL is fighting tooth and nail for SOMETHING to keep guys in their seats. Amazing to me that nobody knows at this hour for sure when they are going to attempt to sell this. Stumpf thus far is refusing to participate in CC....He did say it's such a circle-jerk right now that he doesn't know anyone who knows anything for sure.
[/quote] This is exactly where i understand things stand.. Manager showed me the commission run for Jan 09 side by side with Jan 08..Looking at that cant believe WFC would offer retention to anyone in our branch.Buzz,
I believe your comments are accurate as the heat is turned all the way up on upfront money.Yeh, but I bet you don’t have sit in the branch balancing their freakin’ checkbook for them! LOL
How can you not offer retention, but you can offer transition money? If that is the case say it and give us a name and a marketing campaign.
I was told that there are dozens of big producers leaving WS tomorrow. If they don’t announce anything tomorrow, then I wonder how many they got to put their move on hold for a possible retention deal. It would really suck if soomeone stopped from going because their manager told them that there was an announcement tomorrow and then no announcement. Ouch.
What kind of higher payout do you give the profit formula’s?
We are at 75% and they pull all expenses from that...waiving expenses is the only way to "better". PF is huge w/higher producers so i think this whole "higher payout" thing is something pulled from left field.
There are multiple channels out there, so perhaps one is getting a higher payout, one is getting cash, etc, etc....who knows.
You have to give them one thing: this is the most well kept closely guarded secret in the history of Wall Street.