500 or bust?
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just read the 4front deal in InfoMax. A household is capped at 3MM for payout purposes.
The 4Front deal is really unfortunate for us ISG guys. One of the negatives of ISG is that we are required to deal with every Tom, d*** and Harry that gets referred to us by the branches. Sometimes that's a good thing, but for those of us who have built up a good book and want to move to the next level, it's difficult when you have to deal with the $25k, $50k and $75k clients all day. As a result, our average account size is significantly lower than that of an FA in a wirehouse, even though we may do more average production.
I'm around $700k on my T12, but I just got through looking at my households. I have 780 households and over 1,200 accounts. But, only 80 of those are in excess of $250k. That means that the MAXIMUM 4Front award I can hit is .50bps. Additionally, many of those accounts are just not suited for advisory. So, level 2 isn't really achievable either. So, from a production standpoint, someone doing $700k would seem to deserve a better retention or award or whatever they want to call it. But, the way the accounts work it, it's impossible. Anyone else from the ISG side crunched their numbers yet?I have crunched my numbers and the max for me is 50bps. They have got us by the…
not on ISG, but I know down to the household specifically what is required to attain each level. I should be able to hit 1,2,3 easy - all I really care about is 1 (if I stay). 4 might be able to be done, but does it count for existing loans???
Anyone know if the DC will be portable to finet?? One of my questions for tomorrows conference call.they got no one by the b@lls! they’re playing poker and have no cards for christ’s sake!
make 'em sweat. 4 front provides the perfect opportunity to position your book to move. if sr mgmt destroys the firm as it appears they are doing, you can build the case to seek an new firm. you may get a few bucks from wells (i bet they change the rules though). more importantly, you wouldn't have wasted any time as you're prepping your book to leave. brokers have a full boat and sr mgmt has a pair of deuces...play your hand!Guy’s I owe everyone an apology, I thought that all you brokers were paid throughout the year. I understand now.
Go out there and get you a check!!!!How dare you proclaim to care about anybody but yourself you greedy sucker. Don’t you all know how hipocritical you sound. I’ll bet if DL had come back with an offer the 5 months of waiting wouldn’t have mattered. Standing there with your hand out, get off the high horse and come clean, you all are money grubbing salesman looking for a free handout at the expense of the shareholders of the company you work for. Wachovia has over 30,000 employees that work on variable comp, why should a small fairly replaceable group get some special money to stay? Its the dumbest thing I have ever heard of.
Lilley1, I just received a FAT check as you call them. We are very hardworking advisors, have no idea why you have such an interest in this thread. I am not sure if you are male or female so not sure wether to call you a f**ing cun or f**ing dic
Hey Lilly pad, how many Amish fireplaces you sell today ? did you manage to fix up that popped vein from yesterday ? and finally, why does a furniture salesman have any interest in what DL does ?
my clients would disagree that i'm replaceable. the firm would also disagree in that it would have to pay nearly 500m to replace my revenue, and i'm a middle of the road producer.
wells has paid millions recently to obtain talent from elsewhere. now other firms will be bidding for wells top talent. that's not greed, that's the market for a select few that can do this job. lilly, i don't get your anger over this matter. you're likely a college kid that just doesn't get it yet. it's better to be thought the fool than to open one's mouth (or post) and remove all doubt... consider yourself ignored going forward."How dare you proclaim to care about anybody but yourself you greedy sucker."
Well all this from the altruistic furniture salesperson. I just noticed you’re from the UK? Isn’t that the land of no toothpaste? If you’re female you probably have armpit hair so thick it looks like you have a chia-pet in a headlock.
Anyway, let’s flip all the cards. You’re not successful in the least. One thing I can most definitely tell from the post is that you don’t have any money at all. You are jealous of those that do. All too common.
Get a job, make some money, and then find out how it is to try to explain to those that don’t have any money how to go make a good amount of money with integrity through hard work. If you spend your life being jealous all you do is to short circuit the part of you that could have made a few bucks.
Why? Because on a subconscious level you tell yourself that poor is good and rich is bad. And then, 40 years later, your poor. I wonder why. You’ve got a mind full of excuses instead of a bank account full of success.
Hey Lily, how many gerbils travelled through your transverse colon today? I am leaving and taking 800k in production for as much as 1.5 mil up front. Retention of even 300k up front may have convinced me to stay. WFC is daring the top 25% to go and we are going. You are an idiot! And Danny Isadouche!
Somebody help me out here.....on the examples that were given for this enhanced program - it showed participation rates less than 1.0. Other than being on a team, what would constitute a lower participation rate?
Lilley, Let me break it down for a furniture guy to understand. You have a store front - you fill it with furniture - consumers come in to buy the furniture - furniture sells for profit - money goes into store. Without the furniture there would be no need for the store and nothing for the consumer to buy - therefore, no profits to be received. WE ARE THE FURNITURE - take furniture down to next building - profits follow.why should a small fairly replaceable group get some special money to stay? Its the dumbest thing I have ever heard of.
I just finished a phone conference with the rest of my team. I am not the largest producer and our split number arrangement is not important to the conversation.I have never had a conversation like this . We ranged from retirement to buying barbershops to sinking with the ship to this is when you buy . I think my team is full of smart people and we have no real agreement what to do on Monday morning. I think the human obligation keeps us in our seats unlike a furniture salesman or computer technician. I know teachers that would never stop teaching even when the school went combat zone. Maybe that is us . Logic says move…sell… to a different industry but our instinct says buy. If this was the only thing we thought we could be successful at it would be easy to decide what to do. After reading day after day on this thread I believe we just want respect. Our clients give it to us why not our Firm.
[quote=Lilley@1] why should a small fairly replaceable group get some special money to stay? Its the dumbest thing I have ever heard of.
Lilley,
Let me break it down for a furniture guy to understand. You have a store front - you fill it with furniture - consumers come in to buy the furniture - furniture sells for profit - money goes into store. Without the furniture there would be no need for the store and nothing for the consumer to buy - therefore, no profits to be received.
WE ARE THE FURNITURE - take furniture down to next building - profits follow.[/quote]
Sorry Lilley - there is help for you out there just not on our forum. Please leave and do not waste any more of our time. Ciao
[quote=Lilley@1]How dare you proclaim to care about anybody but yourself you greedy sucker. Don’t you all know how hipocritical you sound. I’ll bet if DL had come back with an offer the 5 months of waiting wouldn’t have mattered. Standing there with your hand out, get off the high horse and come clean, you all are money grubbing salesman looking for a free handout at the expense of the shareholders of the company you work for. Wachovia has over 30,000 employees that work on variable comp, why should a small fairly replaceable group get some special money to stay? Its the dumbest thing I have ever heard of.[/quote] Lilly pad, why don’t you bend over, because I have a truckload of furniture I need to deliver.
[quote=CDO Squared]theybecas
here is what happens next
WFC’s has been able to hide because they did dodge the real toxic crap.
but now things are changing. as crap keeps getting worse the oakland CA loans from WB (World savings) keep creating more problems. As WFc stock keeps tanking those freaks are going to get MORE and MORE tight (thats how they think. black and white)
plus wfc got screwed on that tax break from WB
The brokerage biz has been better then banking for sure but as we all know, gross is going to go way down. when WS starts reporting net down 40-50% (plus FA;s bailing) those WFC MF’s gonna shoot and ask qustions later.
Grid cut next
Major cut backs (might be mailing confirms with those stage coaches)
Its so obvious.
mark my words [/quote] CDO, as I have always posted WFC IS A Bank, you are right on.