500 or bust?
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Well if you're in St Louis, you have to know this is going to blow up the firm. How can I trust that this will ever be paid? They lied to our faces REPEATEDLY. There is NOTHING that will prevent them from changing the rules at the last minute. NOTHING. I have little confidence if they being to see that this is going to cost them a lot that they will not change the rules. I do not believe or trust this management team at all. This isn't a white lie or lying about something quasi minor, no, this is as big a lie as they could have told. The kind that destroys all faith and confidence in anything they have to say. You watch, next year they will have a HUGE jump in the hurdle so that when it all nets out, they paid us NOTHING. They will justify it by saying "we havent raised the hurdle in 3 years and inflation has risen the cost of doing business so we are being forced by economic circumstances to raise the hurdle" 1000 per month over the next 3 years to pay for this is what I bet. They are going to try and fool us into thinking we are getting something to apease people and in the end we will have gotten nothing.MN - nobody with industry experience in St. Louis professes to think that 4Front is ANY sort of replacement for traditional retention. I’m IN St. Louis. I walk in there every day, wondering what’s coming next. I deal with brokers every day (and wow, I wouldn’t call them “dumb” by any stretch of the imagination) - believe me, my finger is right on the pulse. I hated Friday. HATED IT. But morale in my department is actually pretty good. While we know this is certainly not the equivalent of retention, it does have potential for you. And when I start talking to FAs tomorrow, I’m taking the emotion out of it, at least on my side. The decision has been made, whether we like it or not (and believe me, we don’t). At this point, all we can do is present the opportunity that exists going forward. So I’ll help everyone who wants help making this work, and I’ll gladly listen to anyone who wants to express their frustration and concern. We’ll see what happens with DL and JH - karma’s a bitch, you know?
Re-think it?!?!?! Are you kidding?? They spent five months thinking about it. If anything, they will re-think things and say " these clowns will stay not matter what we do, lets get rid of the fore-skin plan on June 15th".
I know, but they apparently spent 4 3/4 months thinking and decided to give us a deal and than got out bluffed by MS. They may be surprised to find out that these clowns know some magic, and will disappear in March.
[quote=whalehunter]Let’s close this puppy![/quote]
Naaahhhh…let’s go for 400 pages…we’re almost there!
I suggest that EVERYONE listen to Jim Hayes conference call today. Jim Hayes really believes that his proposal is the best for the FAs…he gives some interesting prospective on the thinking of WS over retention and how we are the industry leaders because we are not giving the FAs any retention.
I suggest that EVERYONE listen to Jim Hayes conference call today. Jim Hayes really believes that his proposal is the best for the FAs…he gives some interesting prospective on the thinking of WS over retention and how we are the industry leaders because we are not giving the FAs any retention.
excuse me? talk about drinking koolaid.
that me friend is THE most convoluted bs logic ive ever heard
man. that si some REAL jim jones kool-aid there
industry leader in bagging FA's
wonderful
I suggest that EVERYONE listen to Jim Hayes conference call today. Jim Hayes really believes that his proposal is the best for the FAs....he gives some interesting prospective on the thinking of WS over retention and how we are the industry leaders because we are not giving the FAs any retention.
CDO said:
excuse me? talk about drinking koolaid.
that me friend is THE most convoluted bs logic ive ever heard
man. that si some REAL jim jones kool-aid there
industry leader in bagging FA's
wonderful Cdo squared......you do realize that I was being hugely sarcastic.............if ANYONE is on the fence concerning management and their comittment to us....please please do listen to the conference calls.....total BS...............
[quote=HymanRoth]
[quote=whalehunter]Let’s close this puppy![/quote]
Naaahhhh…let’s go for 400 pages…we’re almost there!
[/quote]
After today’s markets when I logged in and saw the new thread name I thought you guys were talking about the S&P 500. Was wondering what I had missed.
[quote=PaulAtreides]
[quote=HymanRoth]
[quote=whalehunter]Let’s close this puppy![/quote]
Naaahhhh…let’s go for 400 pages…we’re almost there!
[/quote]
After today’s markets when I logged in and saw the new thread name I thought you guys were talking about the S&P 500. Was wondering what I had missed.
[/quote]
Noble effort Paul, but really not funny. No wonder you’re a wirehouse shill.
Have you looked at the 4 front package. You do not have to do fee based 50 accounts at 250,000 or more gives you .50 basis points payable in september thats over $600,000
and you dont have to worry about transfering your book.boca it is capped at 50% of trailing 12…also about payout percentage…I am isg and i have a customer with millions at old prudential and i have 40k my payout was .132 so it qualifys for me to be paid on account but for toal accounts it is just added to overall number over 250k
That AA rating for WFC might be in for an adjustment. And probably not upwards. Latest TIME. Client asked me about it today.
http://www.time.com/time/business/article/0,8599,1880499,00.html
[quote=bocabroker]Have you looked at the 4 front package. You do not have to do fee based 50 accounts at 250,000 or more gives you .50 basis points payable in september thats over $600,000
and you dont have to worry about transfering your book.[/quote] 250,000 x 50 = 12,500,000 12,500,000 x .50 = 62,500 62,500 < 600,000 by a bunchhttp://www.time.com/time/business/article/0,8599,1880499,00.html
That’s a better.
That is correct however I would think most advisors have more than a 12 million book or you would be at lpl. The point is you can go and get 100% of t12 or stay and pick up some easy money.
Most reps are finding it hard to move at this time clients have there head in the sand and do not want to look up.