500 or bust?
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Not that it matters ine least but enough on BE Patient--my guess is that he is a decent AGE producer who is largely a fraud... He hasn't gone anywhere and God knows what, if anything, is truthful about his persona. Read the last sentence of his last post:
In the branch manager conference call with Hays two weeks ago a manager asked "Can you just have Stumpf acknowledge that we they are excited to have WS on board". How hard would it have been to put together a 1/2 hr conference call with Stumpf to say that? Unless....He just plain doesnt care about us.
"...he just doesn't care about us." Present tense. As someone who has moved, I would be elbows and a$$holes right now, not waxing eloquent in this forum tonite. In talking to my Regional, who has been spot on so far, the likelihood is they are simply trying to mitigate even further damage by rushing this sub-par program to the field today. The in-foghting is real (WF vs WS) with the main sticking point is a desire to have Stumpf on the call to face the music and lend some credibility since DL's is GONE. And yes, they are trying to put lipstick on this pig. HOWEVER, even he is in the dark about just what they are going present and rules nothing out come next week.Yep I have been right the whole time. A JV with UBS always has a 50/50 chance. the problem is both Wells and UBS want out DL and the gang called our bluff on a three day weekend so if there was a mass exodus then we may see retention if not oh wellreally? Is that information as concrete as be patients?
Morgan Stanley, Citi Eye Retention Fees
Thought this was an interesting headline on the WSJ Online. Some firms aren't afraid to pay retention and take the heat.Actually, this headline is better.
Morgan Stanley, Citigroup to Give Brokers Big Retention FeesWell, I am exhausted. It’s over. There is nothing left to say. I am leaving. It’s all about trust. I can’t trust the leadership, or lack of leadership.
Be patient didnt leave today. No way would he be on these forums. he wd be calling his clients. he really means he is leaving these forums as he is embarrassed that his sources are not very good. Just an easy way for him to save face and explain why he is no longer on these forums.
[quote=jimmymac24] Be patient didnt leave today. No way would he be on these forums. he wd be calling his clients. he really means he is leaving these forums as he is embarrassed that his sources are not very good. Just an easy way for him to save face and explain why he is no longer on these forums.
[/quote]
I believe he is having a very serious conversation with his wife who is bff with DL’s next door neighbors cousin twice removed sisters nephew…
Be patient didnt leave today. No way would he be on these forums. he wd be calling his clients. he really means he is leaving these forums as he is embarrassed that his sources are not very good. Just an easy way for him to save face and explain why he is no longer on these forums.
I believe he is having a very serious conversation with his wife who is bff with DL's next door neighbors cousin twice removed sisters nephew....
Exactly!
I expect to hear the hate. Let it fly. I will contact my clients in due time. Just got back, tonight was dinner out with my team to make sure they are 100% in to move with me. We will all get started early in the morning. Thank you but dont worry about me, I will be fine.
no matter how this all shakes out.
i will always trust and respect DL.
i am 100% sure that he fought his ass off for us.
my gut tell me DL will resign next week
WFC does not want pgc non-bank brokers
dl tried to cut UBS jv to get us away from WFC
thats blew up.
WFC is saying FU
no way DL stays if we are shafted big time with no rainbow in sight
its not hate at all. Just suspicious of you. Would a big producer really not call clients on the day he leaves? I know when i left i called my top 20 on friday into early evening and then the rest on the weekend. Just hard to believe you left today. really hard to believe.
I expect to hear the hate. Let it fly. I will contact my clients in due time. Just got back, tonight was dinner out with my team to make sure they are 100% in to move with me. We will all get started early in the morning. Thank you but dont worry about me, I will be fine.
No worries Mr. "Be Patient"! We will await to see future posts from you telling us how your wife has insight on retention. If you are leaving us, might let Mrs. "Be Patient" on so we might check in for guidance. Take care!!!
Are you kidding me, you think I would move without knowing wether my top 100 clients would go with me. Hell, we have been talking about that for the last year. Numerous clients saying “If you ever decide to leave let me know”. I believe in always distancing yourself from the company. They are YOUR clients not WS, not WFC, YOURS and I believe you tell them they dont have a choice, of course they would go with you.
Give it up You are not going anywhere.I expect to hear the hate. Let it fly. I will contact my clients in due time. Just got back, tonight was dinner out with my team to make sure they are 100% in to move with me. We will all get started early in the morning. Thank you but dont worry about me, I will be fine.
what your clients tell you and what they do are not always the same. Most will come with you but I would be on the phone just in case. Its your business and you know other guys are calling your biggest clients tonight and telling them how WFC is the only AA rated bank left, etc etc.
[quote=jimmymac24]When will you guys give up on this retention. There is no retention coming period. Wells wants to sell us so why would they throw away millions?? I said before here that we all are a little full of ourselves and are coming down to reality. Making the money we did for as long as we did was never gonna last. Eventually charging 1.5 percent to manage assets that go down every year was going to come to an end. Its a joke that we think we deserve a retention when our industry is falling apart and things will never be the same again. as i said many posts ago half the guys on these posts will not be in the business in 5 years. Its over fellas![/quote]
If it sucks so bad…and you’re such a smart guy to know that it’s all over…then why are you still here?
BP, What is your timeline? The way I read your posts - you have decided to move today, but have not tendered resignation, right? I am assuming that you will wait until March 16th to collect the last bonus, correct? Also, isn't there an ACAT blackout on the AGE side for the next week?Are you kidding me, you think I would move without knowing wether my top 100 clients would go with me. Hell, we have been talking about that for the last year. Numerous clients saying “If you ever decide to leave let me know”. I believe in always distancing yourself from the company. They are YOUR clients not WS, not WFC, YOURS and I believe you tell them they dont have a choice, of course they would go with you.
Whaddya say we tend to the angst and the unpleasant business at hand. Something tells me that BE PATIENT is some 120K producer sittin in his two room apartment with holes in his sweatpants and pizza stains on his t-shirt takin a break from watching Porky’s III to yank chains tonite. This is my last tap at the keyboard on that clown.
Looking forward to sharing strategy with the serious pros out there after the word comes next week. Not sure if I am staying. I am of the mind to take their juiced grid (if that is the offer) and skeedaddle when it's done if things don't get a whole lot better.