500 or bust?
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It seems like the 4front deal will be pretty easy targets to hit for level 1…the problem will be surviving between now and August. I a**ume that if I get all my households in the envision POR between now and 6/30 the lump sum option is available in August??? I already use envision just not POR…yet
[quote=skbroker]here’s what danny said on the conference.
blah blah blah blah difficult environment blah blah blah client are down 40 percent blah blah blah media coverage blah blah blah envision blah blah blah bend over and take it. My favorite quote from yesterday....pretty much sums it up.true, as long as the clients that return the survey say they love wachovia and you.
It seems like the 4front deal will be pretty easy targets to hit for level 1…the problem will be surviving between now and August. I a**ume that if I get all my households in the envision POR between now and 6/30 the lump sum option is available in August??? I already use envision just not POR…yet
true, as long as the clients that return the survey say they love wachovia and you.
So let me get this straight. 100 clients in Envision at an avg. of 500k net worth per client. 50 mill @ .75% = $375,000 paid 60 days after June 30. So by Sept 1st you would get a lump sum bonus of $375,000.
If retention was announced and a million dollar producer would have received 37.5% upfront bonus would you have stayed? Yes, a bit more work on your part but not the end of the world. Just sign everyone up, make them bullsh*t numbers, slam your way through it, and NO, the client does not have to return the “Questionaire” to get paid.
Why would anybody do the 4Front program? This is a way for DL and JH to tie the client closer to the firm not the broker. Can anyone honestly say that DL, JH and Wells Fargo will not continue to cut your compensation if they can get away with it? Getting you to put 4Front in place is just another step towards them taking more away from you.
Anybody wanting to get a head and take care of yourself would be wise NOT to follow the suggestions and/or perks offerred by DL, JH and WFC. They are not your friend. They believe it is an us versus them relationship. There is no coincidence or accidents with these guys. It is purposeful and part of plan. If lies don’t bother you or back stabbing then keep on following their BS. For others it just isn’t worth it. Take the hits and move. These hits are at least straight forward, and not as painful as deciet, and lies.
Your comment “Why would anybody do the 4Front program? This is a way for DL and JH to tie the client closer to the firm not the broker”. Care to explain?
From where I sit that's a spot on summarization, bravo.Why would anybody do the 4Front program? This is a way for DL and JH to tie the client closer to the firm not the broker. Can anyone honestly say that DL, JH and Wells Fargo will not continue to cut your compensation if they can get away with it? Getting you to put 4Front in place is just another step towards them taking more away from you.
Anybody wanting to get a head and take care of yourself would be wise NOT to follow the suggestions and/or perks offerred by DL, JH and WFC. They are not your friend. They believe it is an us versus them relationship. There is no coincidence or accidents with these guys. It is purposeful and part of plan. If lies don’t bother you or back stabbing then keep on following their BS. For others it just isn’t worth it. Take the hits and move. These hits are at least straight forward, and not as painful as deciet, and lies.
Cling, FU you young piece of sh*t. You are an idiot who I pray my best friends do not find. You are a small minded broker who will fail out in less than 3 months from now. You get nothing, deal with it or leave.
Hey guys/gals - looks as though Lilly pad has an attitude! I vote her off the island…
So let me get this straight. 100 clients in Envision at an avg. of 500k net worth per client. 50 mill @ .75% = $375,000 paid 60 days after June 30. So by Sept 1st you would get a lump sum bonus of $375,000.
If retention was announced and a million dollar producer would have received 37.5% upfront bonus would you have stayed? Yes, a bit more work on your part but not the end of the world. Just sign everyone up, make them bullsh*t numbers, slam your way through it, and NO, the client does not have to return the “Questionaire” to get paid.
It is clear that Danny Ludeman has ZERO power/influence in this company. If the guy had any character at all he would have resigned when he was told he couldn't deliver what he promised. DL better never again talk about culture, or trust, etc. And don't patronize the FA's by telling them how great they are and how much you appreciate them. Don't lecture about the value of communication. He's a duplicitious phony.the payment to pru has nothing to do with it. It has everything to do with the conservative nature of wells and its bank culture. they caved in to pressure with their recognition trips and now our retention. They did not have the guts to stand up to washington like MS did. MS found a way around it by using 2009 profits to pay theirs so tarp money is not used. Wells did not even need the tarp money. They could have done the same as MS but again its the culture. Its not wach securities anymore its wells fargo advisors. its more than just a name change.
All the FA should send a message. Don't do a single 4Front account.It seems like the 4front deal will be pretty easy targets to hit for level 1…the problem will be surviving between now and August. I a**ume that if I get all my households in the envision POR between now and 6/30 the lump sum option is available in August??? I already use envision just not POR…yet
[quote=clearview] Why would anybody do the 4Front program? This is a way for DL and JH to tie the client closer to the firm not the broker. Can anyone honestly say that DL, JH and Wells Fargo will not continue to cut your compensation if they can get away with it? Getting you to put 4Front in place is just another step towards them taking more away from you.
[/quote] Ding, ding, ding. We have a winner. They keep getting deeper and deeper into YOUR business. Forgo the carrot with many string attatched and instead do what you always have. PUT YOUR CLIENT first, stay in touch with them. YOU are the brand, not WS. It's about YOUR relationship with the client not the ever changing logo. Saved Envision plans are transmitted to compliance for their ongoing review. Some kind of operation CYA for the firm?
[quote=Lilley@1]Furniture stores, 4 of them. Not phoney, objective. You guys can’t see the forest for the trees. This is really a bad commentary on your business, I wish CNBC could get a copy of this Blog. All anyone on this blog needs to do is get back to work, get the focus back where it needs to be…on the client. But unfortunately you all got your hopes up for a big windfall, Wells did the right thing and the broke brokers are going nuts because they need the money.
If you all are such great brokers with the #1 concern being the clients who pay you, why put them through a change of brokerage firms......why, because you all have to get your CHECK!!![/quote] Help me understand...you don't mind paying WS high fees, you just don't want your broker to get paid?? Let's say you pay $10k a year in fees (total fees, and markups), how would you suggest that be split between your broker, his manager, complex manager, Regional manager, Ludeman and Stumpf? When is the last time Ludeman called you?alright now that we know our fate why don’t we open a new forum called who left Wachovia securities. I would do it but i do not know how. I t would be interesting to see how many brokers leave. So if someone knows how to do it please do.
[quote=BlackKnight]
Can’t wait to make the move![/quote]
liar. your scared to death. as u should be.
its 30-60 days of hell
Hey, I just joined Wach Sec yesterday. Outstanding FAs all around. You guys are great!