500 or bust?
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I honestly do NOT think it is a matter of money for a lot/most of the brokers…I think it is a matter of integrity. The lies, the lack of communication, the B.S., everything that DL and WFC has thrown at you all is so anti-AGE that it has sickened you and made you want to just get out of there and treat your clients the way you used to be able to…DO IT! Get out, and treat your clients with the respect they (and you) deserve and know what is right. I have NO idea how DL and his cronies (sp?) sleep at night, but YOU all need to sleep at night…make it right. If you stay where you are, you may pick up the horrible, disgusting habits of the management that is there. Blech! I’m so very sorry about the retention, and the fact that you cannot even use the new name until May (what is up with THAT, anyway???), but move to a company you CAN be proud to work for and call ‘home’. It’s out there…and, if you are worried about paying the money back that AGE ‘gave’ you, negotiate a ‘signing bonus’ (or whatever you call it), and you can pay them back and be done with them. Of course, I know you all know this, but I just thought I’d remind you.
A Broker's wife[quote=soontobegone] I honestly do NOT think it is a matter of money for a lot/most of the brokers…I think it is a matter of integrity. The lies, the lack of communication, the B.S., everything that DL and WFC has thrown at you all is so anti-AGE that it has sickened you and made you want to just get out of there and treat your clients the way you used to be able to…DO IT! Get out, and treat your clients with the respect they (and you) deserve and know what is right. I have NO idea how DL and his cronies (sp?) sleep at night, but YOU all need to sleep at night…make it right. If you stay where you are, you may pick up the horrible, disgusting habits of the management that is there. Blech! I’m so very sorry about the retention, and the fact that you cannot even use the new name until May (what is up with THAT, anyway???), but move to a company you CAN be proud to work for and call ‘home’. It’s out there…and, if you are worried about paying the money back that AGE ‘gave’ you, negotiate a ‘signing bonus’ (or whatever you call it), and you can pay them back and be done with them. Of course, I know you all know this, but I just thought I’d remind you.
Maybe I’m wrong, but are these not the same comments you made about Bob Bagby and AGE when the WS merger happened? And the same comments you’ll be making about Jim Gorman and Morgan two years from now? Just wonderin’…
Your husband is in a corporate profession. Corporate is corporate. Get used to it.
Danny is a dope. I am tired of being lectured to everytime he speaks and I am tired of him being wrong 3 months after he speaks to us - everytime. Having said that, I don’t want to work for a regional, I don’t trust BOA, Merrill, or MS. So, where do I go? Nowhere. I’m staying. Yes, I am disappointed in not getting my retention, but I received a decent number when the merger took place, and I haven’t blown it - yet. Thank goodness. Frankly, I am excited to get away from the Wachovia name, and excited to give Wells a chance. My clients, most of them, I believe will stay with me. Personally, I think that Wells can be a great opportunity, and frankly, I tend to agree with them in their decision not to pay us a bonus.
Wells has to pay back $25billion. Our retention would have been how much? If you believe the numbers, it's $3billion. What is wrong with saving that money and getting out from under the TARP? What's wrong with investing that money back into the firm and/or our clients? I like their idea, but I'm not strapped for the money, so maybe my view is different from most of you. I don't know. What I do know is that WFC is a better place than WS and I want to see it work. Hope you guys stay too, but I can't blame them for not paying us when the rest of the firm took bonus hits up to 80-85%. I'm staying and hoping that I can ride this out and make money once everything settles. I hope and pray that my clients and I will be better off under WFC, but we'll see. Good luck to everyone.[quote=toughtimes] Danny is a dope. I am tired of being lectured to everytime he speaks and I am tired of him being wrong 3 months after he speaks to us - everytime. Having said that, I don’t want to work for a regional, I don’t trust BOA, Merrill, or MS. So, where do I go? Nowhere. I’m staying. Yes, I am disappointed in not getting my retention, but I received a decent number when the merger took place, and I haven’t blown it - yet. Thank goodness. Frankly, I am excited to get away from the Wachovia name, and excited to give Wells a chance. My clients, most of them, I believe will stay with me. Personally, I think that Wells can be a great opportunity, and frankly, I tend to agree with them in their decision not to pay us a bonus.
Wells has to pay back $25billion. Our retention would have been how much? If you believe the numbers, it’s $3billion. What is wrong with saving that money and getting out from under the TARP? What’s wrong with investing that money back into the firm and/or our clients? I like their idea, but I’m not strapped for the money, so maybe my view is different from most of you. I don’t know. What I do know is that WFC is a better place than WS and I want to see it work.
Hope you guys stay too, but I can’t blame them for not paying us when the rest of the firm took bonus hits up to 80-85%. I’m staying and hoping that I can ride this out and make money once everything settles. I hope and pray that my clients and I will be better off under WFC, but we’ll see.
Good luck to everyone.
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I think I love you.
Of course you do!
I'm in S. Florida, where every other house seems to be in foreclosure and everyone and I mean everyone, if they haven't lost their jobs are afraid it's going to happen to them very soon. I wasn't around in the early 80's, and I survived the techwreck, but this is just a terrible time. Who among us can say their book is better and their client's are better today than a year or two ago? I can't. Having said that, again, do our client's really give a rat's ass if we get a retention bonus? Or, would they rather see some stability from us? How many of us have tried to play the Wells/Wachovia merger as a good thing to our clients? I know I have..and I've sold it strong. So, in my mind, how do I turn around and then say to them that I'm going to RayJay b/c they offered me $1mm? I can't do that and save face. I was very upset when I thought Citi had us, and I was doubly happy when Wells picked us up. I'm going to ride this out and again, hope that the KoolAid that I'm sipping works as well as it tastes. I feel better now that I know my decision has been made. That I can call the trading desks that have done well by me and that I won't have to start over again. Yeah for me, right? Have a good weekend everyone.I always knew that brokers were nothing but money grubbing, greedy bastards that are only out for themselves. This string has really, really confirmed that for me. I am not in the investment business but I am an investor. Thanks for the eye opener. I am off to Schwab.
Bye piker, I’m sure you work for free too, and I’m sure you pick the cheapest Dr as well. Schwab is tailormade for you. Go ahead and get out.
Hehehehe. You remind me of a fat little boy, red cheeks and laying on the floor beating his fists on the floor and holding his breath. Didn’t get the windfall and now about to commit another bad move for the sake of money…pathetic.
[quote=toughtimes] Of course you do!
I’m in S. Florida, where every other house seems to be in foreclosure and everyone and I mean everyone, if they haven’t lost their jobs are afraid it’s going to happen to them very soon. I wasn’t around in the early 80’s, and I survived the techwreck, but this is just a terrible time.
Who among us can say their book is better and their client’s are better today than a year or two ago? I can’t. Having said that, again, do our client’s really give a rat’s ass if we get a retention bonus? Or, would they rather see some stability from us? How many of us have tried to play the Wells/Wachovia merger as a good thing to our clients? I know I have…and I’ve sold it strong. So, in my mind, how do I turn around and then say to them that I’m going to RayJay b/c they offered me $1mm? I can’t do that and save face.
I was very upset when I thought Citi had us, and I was doubly happy when Wells picked us up. I’m going to ride this out and again, hope that the KoolAid that I’m sipping works as well as it tastes.
I feel better now that I know my decision has been made. That I can call the trading desks that have done well by me and that I won’t have to start over again. Yeah for me, right?
Have a good weekend everyone. [/quote]
My God. After the last two weeks, and now today, a voice of reason finally emerges. Seriously. You’ve restored my faith. I listened to Danny today and knew that this would happen. I knew that people would be ranting and raving and I KNEW that people would be bitching about not getting their money and blah blah blah nothing about the REAL reason you should be in this industry. And there you are. So thank you. And I know that probably looks sarcastic, but it’s SO not. It’s so nice to hear from an FA with a positive attitude - believe me, I talk to people about this all day every day, and when I run across one like you, I just have to smile. So thanks, Tough.
Are you still here ? I’m not gonna tussle with you. Just do me a favor, tell all your piker buddies, saves us the trouble of firing them.
beyotch… I have a referral for you. Lilley@1 up there needs a broker, he just needs it for free.
keep selling…at least you can sell…what a great talent. you should be proud…nighty night!!!
i was just told by my rm that if you have the accounts in your book and can do 100 envisions for households over 250k they can be house holds with plan of records already you just need to modify them you can get up to 50% trailing 12. also if you hit the bogies before the pay date you can get a loan for the money. and the deals are 5 yr deals there is no fee based growth linked to the bonuses. Thats not that bad if you are already doing envision. also you will have to sept 2010 to get as many as you can. the bonus will start with 25 plan then more money for 50 even more money for 75 and top payout at 100 plans
So if you do everything I say you can get back more of the money you charged the client. There is only 100 cents to every dollar
how are they going to feel when you tell them “Sorry Joe, they wouldn’t
pay me a big retention check to stay, so I have to leave and go to the
highest bidder. Hope you understand and will follow me there!”
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They will say, “I hate that Fing bank anyway. Dont pay shit on cd’s or mmf. Rip me off at every turn with stupid fees, stock acting like they are going belly up. Your a smart bizman to take that money. Damn straight Im moving with ya. Bye Wachovy.”
You should improve your reading comprehension. You are about the intelligence level of a Schwab client, you should fit in nicely there.I always knew that brokers were nothing but money grubbing, greedy bastards that are only out for themselves. This string has really, really confirmed that for me. I am not in the investment business but I am an investor. Thanks for the eye opener. I am off to Schwab.
[quote=clang] beyotch… I have a referral for you. Lilley@1 up there needs a broker, he just needs it for free.
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Ah, dear clang. I’m pretty sure Lilley will be just fine on her own, even if that means Schwab (although I don’t LIKE that choice…the commercials are kind of clever). And I’m sure I’ll be fine right where I am. I’m not, however, so sure about you. How many times do you really think your clients will move with you when you get the check and they get chaos? Best of luck, buddy.
I always knew that brokers were nothing but money grubbing, greedy
bastards that are only out for themselves. This string has really,
really confirmed that for me. I am not in the investment business but
I am an investor. Thanks for the eye opener. I am off to Schwab
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Buh Bye