500 or bust?
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I know 5 in our office in advanced talks, I was approached, estimate of 4 mil tt
Have any of you paused to wonder why creating these Forefront plans is so valuable to the firm (in case you haven’t, it’s NOT to retain YOU)? Look, if some of you have decided to stay put no matter what, I totally respect your decision. However, the whole, “I’ll give THIS a chance to see how it goes; I can always move later.” argument is officially spent. Wells will have you under contract and “your” clients under their thumb.
That is true if you take the money upfront. Again, this is just one more reason if you are going to stay to make the move to FiNet.Have any of you paused to wonder why creating these Forefront plans is so valuable to the firm (in case you haven’t, it’s NOT to retain YOU)? Look, if some of you have decided to stay put no matter what, I totally respect your decision. However, the whole, “I’ll give THIS a chance to see how it goes; I can always move later.” argument is officially spent. Wells will have you under contract and “your” clients under their thumb.
YHWY is correct, WFC covets the info you will input into the databank, all that fish in that small a$$ barrel…
Bingo! Be affraid. Not linked to production in any way, but controlls the accounts. Lots of talk about DL,WF next move once everyone is contractually committed. Has anyone heard what the terms include? It could be very ugly langage, which , some will sign , blinded by the dollars. If you sign, you will lose in arbitration, My opinion BE CAREFUL!Have any of you paused to wonder why creating these Forefront plans is so valuable to the firm (in case you haven’t, it’s NOT to retain YOU)? Look, if some of you have decided to stay put no matter what, I totally respect your decision. However, the whole, “I’ll give THIS a chance to see how it goes; I can always move later.” argument is officially spent. Wells will have you under contract and “your” clients under their thumb.
How about the government go with unlimited FDIC insurance? Big hitters get the guarantee anyway by buying treasuries. Then offer no cap gains on any real estate bought this year or next. Money flows into banks. Long line of borrowers. Capital ratios cease to be an issue. Problem solved. Of course it does not come with a price tag of billions so it will not happen. Side affect, treasuries will sell off immediately, and with a little bit of time, the government could actually start buying back at discounts with the new found tax revenue, lowering the national debt.
Did anyone listening to the 12:00 Forefront conference call hear that if you “stray” from the Envision Plan of Record by a certain percentage that your branch mgr will receive a report from the back office? My question is…does that mean “big brother” is monitoring your book of business and the types of business and trades you are doing? My broker asked that question and the conference call leader said “No” nobody is monitoring your business. Then how does anyone know to send a report to the branch mgr? Where does all the data that you collect go? Is the bank collecting the info so that they or us can now cross sell other products to our clients like Christmas Club accts, auto loans etc. I havent crossed sold anything since I was a teller in a bank 100 years ago and I swore I would never work for a bank again just for that reason. I was told today that the Envision trainers that come to the branches to train you earn commissions on the number of reports that are run? Why would someone in the back office be earning commisions on Envision reports? What happened to the days when a broker managed a client’s portfolio based on the needs of the client and not on the type of business and a report that will get the broker paid to compensate for not getting a retention bonus. It seems like that is what Wells is forcing you to do to make up for the lost retention, doesnt seem right to me. Seems like we are selling the client and all of their information out so that the bank can the MARKET to them.
traveler…i know of 4-5 offices where 1/3-1/2 plus of each office
is in discussions. After mid march give or take a few weeks you will see many numbers go. Between the offices mentioned above the numbers are 6-7 million with a possible 3 million add’l. I think my original forecast of 500-800 advisors after mar 15th is likely low. I think the numbers will be staggering…2000 plus if you include both legacy firms. Not only numbers but these arent the 200k producers either. Wouldnt surprise me if 300 plus million $ guys go.
I agree. Management has shown its hand. They have made it more terrifing to stay, than to move.traveler…i know of 4-5 offices where 1/3-1/2 plus of each office
is in discussions. After mid march give or take a few weeks you will see many numbers go. Between the offices mentioned above the numbers are 6-7 million with a possible 3 million add’l. I think my original forecast of 500-800 advisors after mar 15th is likely low. I think the numbers will be staggering…2000 plus if you include both legacy firms. Not only numbers but these arent the 200k producers either. Wouldnt surprise me if 300 plus million $ guys go.
That is true if you take the money upfront. Again, this is just one
more reason if you are going to stay to make the move to FiNet.
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FINET may be a good option but I am ISG. I inquired with FINET and I was informed that ISG did not have the option to go to FINET. Any other ISG people encounter this?
you are all full of crap, and chickensh#@ too. get to work, help your clients figure a way out of this, and get paid for it. no wait, it’s a conspiracy…idiots.
ur biz is off 30%, move and you’ll be lucky to move half. 70% of 50% is 35%, when the taxes hit on your upfront you’ll get crushed cause you’re trying to live above your means - STILL. You’ll be cutting lawns for a living in 2 yrs.
look, get back to work or get lost. just stop whining already!
[quote=stop_whining]you are all full of crap, and chickensh#@ too. get to work, help your clients figure a way out of this, and get paid for it. no wait, it’s a conspiracy…idiots.
ur biz is off 30%, move and you’ll be lucky to move half. 70% of 50% is 35%, when the taxes hit on your upfront you’ll get crushed cause you’re trying to live above your means - STILL. You’ll be cutting lawns for a living in 2 yrs.
look, get back to work or get lost. just stop whining already!
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LOL…ummm…yeah…I moved at the beginning of the year and already moved more than 70% and that is including the ACAT Blackout…clients were lining up to sign the ACATS!
so wots the point of you being on this forum? cud it be ur really a recruiter, eh?
…here’s wot i’ll do, me and my slime ball recruiter buddies, who care only about getting paid, which only happens if I move - anwhere, will pose as brokers who left, and are loving it, all of whose clients moved instantly. just so ur future payck, ie. me and my move, can feel better about leaving, cause soooo many other ppl have, or r thinking about it. seriously, it says so on the forum!!!
nah, of course not. ur just trying to help your old friends!! or r u one of those piker edwards brokers who do no real business but feel entitled to everything, who went to a shlock house?
[quote=stop_whining]so wots the point of you being on this forum? cud it be ur really a recruiter, eh?
…here’s wot i’ll do, me and my slime ball recruiter buddies, who care only about getting paid, which only happens if I move - anwhere, will pose as brokers who left, and are loving it, all of whose clients moved instantly. just so ur future payck, ie. me and my move, can feel better about leaving, cause soooo many other ppl have, or r thinking about it. seriously, it says so on the forum!!!
nah, of course not. ur just trying to help your old friends!! or r u one of those piker edwards brokers who do no real business but feel entitled to everything, who went to a shlock house?
[and you must be one of danny boy’s home office humps. still drinking the coolaid???
[quote=stop_whining] so wots the point of you being on this forum? cud it be ur really a recruiter, eh? …here’s wot i’ll do, me and my slime ball recruiter buddies, who care only about getting paid, which only happens if I move - anwhere, will pose as brokers who left, and are loving it, all of whose clients moved instantly. just so ur future payck, ie. me and my move, can feel better about leaving, cause soooo many other ppl have, or r thinking about it. seriously, it says so on the forum!!! nah, of course not. ur just trying to help your old friends!! or r u one of those piker edwards brokers who do no real business but feel entitled to everything, who went to a shlock house?
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dude, are you doing meth?
ur so fukcing annoying
pls stfu
[quote=LegacyWellsFargo][quote=Wheat-ie]My manager wne through the math today on my new “4Front possiblities”, which I never even considered as i considered it such a d***-burger substitute to anything meaningful. While I am still peeved about the situation, the reality isn’t too bad: I do an envision on my top 25 HH only, and i get a check for $500k…another $200k eligible, but i have to do 175 HH to get it…not bad.
Why would wells do that, what do they get for 700,000 once you are under a 10 year contract?
Measure twice, cut once[/quote]
I think we need to check the math for Wheat-ie…25 HH X 3,000,000 (max per hh eligible) = $75,000,000 MAX …take 75,000,000 X .0025= $187,500 for 25 households at the most. Very respectable, but a long way from 500 k.[/quote]
At my level it is 0.0075…please check your math again, scholar