500 or bust?
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Our office lost a 2mm dollar group today to MS…guess the fore-skin plan didn’t measure up to 200%…the floodgates have been opened- nice going, WFC!
in 27 years. today is all time record for most :
negative, bearish, discouraged, and all around nasty clients/people can be. remeber in good bull runs (ala 95-00) that people would get almost angry with you if you were bearish? This is the FIRST time people get mad (roll their eyes) when your bullish. huge huge bounce/rally soming soon[quote=bocabroker]
I would think most advisors have more than a 12 million book or you would be at lpl.
That’s hysterical, boca! If you allowed yourself to accept the facts (i.e. superior technology, support, flexibility and, oh yeah, PROFIT) your head would explode. Keep grinding out that “huge gross production” at your (probably failing) wirehouse, while we just keep making more and more money at LPL (by harvesting your fed-up clients). “Gross Production” is the funniest term on Earth once you see it from our side; but you wouldn’t know anything about that. Sorry.
There are a few big (and I mean BIG) exceptions in the 4front....for a household, the limit to "credit" is 3 million AUM....so if your household is 15 million, then 12 million of that does not count towards the AUM for payout. Also, the payout can not be more than 50% of your T12 as of 12/08.
It is not as simple math as some on this site are posting. Without the 3 million limit per household AUM, I would have had almost 500,000. But that got chopped down because a have some huge households.
[quote=fritz]
Aluminum Cans; .33 cents a pound
Bottles: .7 cents each
Cardboard ; 22 cents a pound
Here are a couple ways to make an extra buck out there for you guys…[/quote]
Why, did you stop earning 20’s the hard way down by the docks?
If a guy stays with this company - why wouldn’t you go FINET? If the new “enhancement” is applicable to FINET reps - why keep paying 60% to listen to DL and his entourage of uninformed misfits.
I am glad, however, that WFC - DL and crew, are taking the high road for America and the interest of the client - by not wanting to retain us to continue our relationships in this historical time. My clients do however, appreciate the opportunity to apply for a $60 dollar rebate on their account fees - pay for the command checking and participate in the Envision program. After today's conference call - I want to thank JH for another new 'buzz phrase". Now I can use uptick, stake in the groung and the new "Onramp to Envision" - hopefully in the same sentence. The level 1 requirements are easy to attain - but, slanted. If you have an old time guy with, say, $200mm who has been around forever, but, may produce $500,000 - low velocity - he could qualify easy by doing Envision for all his CD accounts. I also like JH today saying that the new "Wells Fargo Advisor" name makes a powerful statement - ??? - what? My 7 year old could have come up with that - I just hope they didn't pay for a research team to study the impact and public perception of the name. After Friday's announcement, today's market, and JH's conference call - I feel like I got punched in the stomach.On my call today with JH, I noticed he quickly brought up the fact that they were considering vesting some deferred comp but no decisions were made yet…then he quickly dropped the subject. Did anyone else get that?
Not in our call... however, he did say that they looked at over 100 scenarios for retention. Problem is - WFC had always been only looking at 1 scenario. This morning I had one of my biggest client call and ask the same question he asked last year about WS, but, now about WFC - "is my money safe at WFC?" I thought so - however, after reading the link to the TIME article - not so sure.On my call today with JH, I noticed he quickly brought up the fact that they were considering vesting some deferred comp but no decisions were made yet…then he quickly dropped the subject. Did anyone else get that?
[quote=maddog]If a guy stays with this company - why wouldn’t you go FINET? If the new “enhancement” is applicable to FINET reps - why keep paying 60% to listen to DL and his entourage of uninformed misfits.
I am glad, however, that WFC - DL and crew, are taking the high road for America and the interest of the client - by not wanting to retain us to continue our relationships in this historical time. My clients do however, appreciate the opportunity to apply for a $60 dollar rebate on their account fees - pay for the command checking and participate in the Envision program. After today's conference call - I want to thank JH for another new 'buzz phrase". Now I can use uptick, stake in the groung and the new "Onramp to Envision" - hopefully in the same sentence. The level 1 requirements are easy to attain - but, slanted. If you have an old time guy with, say, $200mm who has been around forever, but, may produce $500,000 - low velocity - he could qualify easy by doing Envision for all his CD accounts. I also like JH today saying that the new "Wells Fargo Advisor" name makes a powerful statement - ??? - what? My 7 year old could have come up with that - I just hope they didn't pay for a research team to study the impact and public perception of the name. After Friday's announcement, today's market, and JH's conference call - I feel like I got punched in the stomach.[/quote] Since they said the name takes place on May 1st , I am sure that will happen But does anyone wonder why they would not change it March 1st? Makes me wonder what is going on. I am afraid to even mention it to clients, not that they care anymore.[quote=fritz] [quote=maddog]If a guy stays with this company - why wouldn’t you go FINET? If the new “enhancement” is applicable to FINET reps - why keep paying 60% to listen to DL and his entourage of uninformed misfits.
I am glad, however, that WFC - DL and crew, are taking the high road for America and the interest of the client - by not wanting to retain us to continue our relationships in this historical time. My clients do however, appreciate the opportunity to apply for a $60 dollar rebate on their account fees - pay for the command checking and participate in the Envision program.
After today’s conference call - I want to thank JH for another new 'buzz phrase". Now I can use uptick, stake in the groung and the new “Onramp to Envision” - hopefully in the same sentence.
The level 1 requirements are easy to attain - but, slanted. If you have an old time guy with, say, $200mm who has been around forever, but, may produce $500,000 - low velocity - he could qualify easy by doing Envision for all his CD accounts.
I also like JH today saying that the new “Wells Fargo Advisor” name makes a powerful statement - ??? - what? My 7 year old could have come up with that - I just hope they didn’t pay for a research team to study the impact and public perception of the name.
After Friday’s announcement, today’s market, and JH’s conference call - I feel like I got punched in the stomach.[/quote]
Since they said the name takes place on May 1st , I am sure that will happen But does anyone wonder why they would not change it March 1st? Makes me wonder what is going on. I am afraid to even mention it to clients, not that they care anymore.[/quote]
I get that… Our branch instructed staff to answer the phones “Wells Fargo Advisors” – clients freakn out big time.
[quote=fritz][quote=maddog]If a guy stays with this company - why wouldn’t you go FINET? If the new “enhancement” is applicable to FINET reps - why keep paying 60% to listen to DL and his entourage of uninformed misfits.
I am glad, however, that WFC - DL and crew, are taking the high road for America and the interest of the client - by not wanting to retain us to continue our relationships in this historical time. My clients do however, appreciate the opportunity to apply for a $60 dollar rebate on their account fees - pay for the command checking and participate in the Envision program. After today's conference call - I want to thank JH for another new 'buzz phrase". Now I can use uptick, stake in the groung and the new "Onramp to Envision" - hopefully in the same sentence. The level 1 requirements are easy to attain - but, slanted. If you have an old time guy with, say, $200mm who has been around forever, but, may produce $500,000 - low velocity - he could qualify easy by doing Envision for all his CD accounts. I also like JH today saying that the new "Wells Fargo Advisor" name makes a powerful statement - ??? - what? My 7 year old could have come up with that - I just hope they didn't pay for a research team to study the impact and public perception of the name. After Friday's announcement, today's market, and JH's conference call - I feel like I got punched in the stomach.[/quote] Since they said the name takes place on May 1st , I am sure that will happen But does anyone wonder why they would not change it March 1st? Makes me wonder what is going on. I am afraid to even mention it to clients, not that they care anymore.[/quote] Because the name is not legally changed yet with the regulators.Be Careful with 4Front, Profit Formula and FiNet, less control of expenses.
Have any Premeir Advisors researched Indy's other than finet? DL will be gone, more scary is who WF will replace him with. Lower Payouts coming. Possibly low salary with 4front hurdles as bonus. If, you like your BM listen to him, he will be looking for outs too, not just the AGE guys, all managers. Once the 4 front targets are met, the goal will be salary and new account 4front quotas for the weak that have remained. It is the bankers mentality. We won't get into the Gov. mentality. one in he same? Low salaries, no control, death of the Broker as we know it. All the industry growth is Indy channel. DL is the smartest guy who has led any of these companies. He has met some bankers and politicians he cannot smooze. He cannot lead without followers, and he knows 4front will not win over anyone. Wells should stick with hot check fees and atm charges. DL should find a partner quickly, or, he will be playing remember when with Kowach this time next year. My opinon.[quote=LegacyWellsFargo]Be Careful with 4Front, Profit Formula and FiNet, less control of expenses.
Have any Premeir Advisors researched Indy's other than finet? DL will be gone, more scary is who WF will replace him with. Lower Payouts coming. Possibly low salary with 4front hurdles as bonus. If, you like your BM listen to him, he will be looking for outs too, not just the AGE guys, all managers. Once the 4 front targets are met, the goal will be salary and new account 4front quotas for the weak that have remained. It is the bankers mentality. We won't get into the Gov. mentality. one in he same? Low salaries, no control, death of the Broker as we know it. All the industry growth is Indy channel. DL is the smartest guy who has led any of these companies. He has met some bankers and politicians he cannot smooze. He cannot lead without followers, and he knows 4front will not win over anyone. Wells should stick with hot check fees and atm charges. DL should find a partner quickly, or, he will be playing remember when with Kowach this time next year. My opinon.[/quote] could not have said it any better. strump et al the new evil empire. not our friendI still cant DL playing the fool here.
I STILL have so much respect for the guy. somewhere, deep down I think there is another shoe to fall. that DL is winking at us to just give him some time to puke these WFC bank d*** losers. the whole deal is sad i just cant beleive he is selling out (selling us out) something doesnt add up (and I know you AGE could never see dl in the light that some of us do) i dont blame you. but the guy has been one of my heros and has nver lacked for huge gonads[quote=CDO Squared]I still cant DL playing the fool here.
I STILL have so much respect for the guy. somewhere, deep down I think there is another shoe to fall. that DL is winking at us to just give him some time to puke these WFC bank d*** losers. the whole deal is sad i just cant beleive he is selling out (selling us out) something doesnt add up (and I know you AGE could never see dl in the light that some of us do) i dont blame you. but the guy has been one of my heros and has nver lacked for huge gonads[/quote] Wells took care of those gonads...DL is a eunuch[quote=LegacyWellsFargo]Be Careful with 4Front, Profit Formula and FiNet, less control of expenses.
Excuse my ignorance - but, what do you mean - less control of expenses?For the first time in my career at AGE, I felt bold faced lied to today. I can’t describe the anger that rose up in me during the call when JH tried to spin this as our duty to America and that they thought long and hard and decided that this was the best avenue. His response to people worrying they didn’t have enouch ‘qualifying households’: since we are WFC now, huge clients will be banging down our doors to work with us. WFC’s the best, rah rah rah!
I’m a pretty calm guy. I don’t want to leave, but this is not my old AGE. Or the new WS. This is working for Warren Buffett. If you know anything about WB, he always takes money from your pocket and puts it in his. He is ruthless, tightfisted, & hates Wall Street. Unbelievable…