[quote=oldpruguy][quote=Heel] [quote=BukiRob] [quote=oldpruguy][quote=Wheat-ie] [quote=oldpruguy] [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.[/quote]

[quote=Ferris Bueller] [quote=brokergirl] thanks Bondking for the encouragement, unfortunately we will have been sold 4 more times and no longer have Infomax by the time I go through that many pages of wonderful information[/quote]

very true. there might be retention in one of the next 4 sales![/quote]

Sadly it continues. the nonstop whining about having to learn a different system
it was so much easier at edwards, waah.
bagby is a jerk, waah
infomax stinks, waah
it takes so many more clicks to get the same info, waah
bank, bank, bank, waah

we shud be thankful that we have jobs that are so simple and yet that pay so much… oh but there’s all that stress!! I work 13 hours a day! baloney. you waste 3 hrs every day watching CNBC and another d***in’ around lookin at sites like this one. EVERY ONE OF YOU WHINERS need to stop putting your hands out for donations, i mean retentions, and DO YOUR JOB, bank your money and go home to your family.   Batten down the hatches, spend less money and spend more time talking to yer clients and actually advising them.

maybe being consumed so wholly by this retention (ie. money fer nuthin’) nonsense makes you feel busy, and makes u feel better about NOT having the rough conversations with the ppl who put their trust in you.

and all of us ppl who never read this forum, who are finally looking at it, think the overwhelming majority of post-ers are recruiters, or low enders who shud start thinking about that lawnmowing gig sooner vs later…

NEW YORK -- Wachovia Securities, a unit of Wells Fargo & Co. (WFC), has recruited 177 experienced financial advisers in February, a company spokeswoman said.

The advisers, who will work in the firm's private-client group, bank brokerage or independent advisory business, had more than $92 million in combined trailing 12-month production and managed nearly $11 billion in client assets at their respective firms.

The recruiting tally reflects new hires as of Feb. 20, who joined Wachovia before the company announced last Friday that Wells Fargo won't be handing out retention packages to Wachovia's more than 14,000 brokers.

The new hires underscore Wachovia's recent push to add brokers from its competitors. Wachovia brought in 178 experienced advisers in January, its highest monthly total.

Some of the new hires include Marc Dubroff, Andrew Wayne, Michael Bernstein and Rochard Rothschild, who joined Wachovia from Citigroup Inc.'s (C) Smith Barney retail brokerage. The team, based in Wachovia's New York office, had about $4 million in combined production and managed nearly $454 million in client assets.

Dubroff, Bernstein and Rothschild each worked at Citigroup for more than 15 years, while Wayne spent more than eight years there, according to the Financial Industry Regulatory Authority.

In Bellevue, Wash., Wachovia recruited Smith Barney brokers Jack Petersen, Paul Capeloto, Tama Borriello, and Monty Grau. The team had about $3.5 million in combined production and $544 million in assets under management.

Petersen worked at Citigroup for more than 15 years, while Capeloto spent nearly 19 years there, according to Finra records. Borriello and Grau were nine-year Citigroup veteran, Finra records show.

Other new recruits include David Hohimer and William Hochwalt from UBS Wealth Management US, a unit of UBS AG (UBS). Hohimer works in Wachovia's Seattle office, while Hochwalt is based in Scottsdale, Ariz. Hohimer was a $1.5 million producer, with $164 million in assets under management, while Hochwalt had approximately $1 million in production and managed about $140 million in client assets.

Hohimer worked at UBS and predecessor firm McDonald Investments for more than seven years, according to regulatory records. Hochwalt spent 15 years at UBS, Finra records show.

In addition, Wachovia added Peter Disanza, Richard Gallos and Gregory Milazzo from Merrill Lynch Global Wealth Management, a unit of Bank of America Corp. (BAC). The team, based in the Wachovia's New York office, had more than $3 million in combined production and managed about $366 million in client assets.

Disanza worked at Merrill Lynch for 14 years, while Gallos spent more than 15 years there, and Milazzo was a 10-year firm veteran, regulatory records show.

Representatives from Smith Barney, UBS and Merrill Lynch confirmed that the brokers had left the firms.

But hey, would dont want to send the wrong message to an angry public right?

[quote=cmein1999]

NEW YORK -- Wachovia Securities, a unit of Wells Fargo & Co. (WFC), has recruited 177 experienced financial advisers in February, a company spokeswoman said.

The advisers, who will work in the firm's private-client group, bank brokerage or independent advisory business, had more than $92 million in combined trailing 12-month production and managed nearly $11 billion in client assets at their respective firms.

The recruiting tally reflects new hires as of Feb. 20, who joined Wachovia before the company announced last Friday that Wells Fargo won't be handing out retention packages to Wachovia's more than 14,000 brokers.

The new hires underscore Wachovia's recent push to add brokers from its competitors. Wachovia brought in 178 experienced advisers in January, its highest monthly total.

Some of the new hires include Marc Dubroff, Andrew Wayne, Michael Bernstein and Rochard Rothschild, who joined Wachovia from Citigroup Inc.'s (C) Smith Barney retail brokerage. The team, based in Wachovia's New York office, had about $4 million in combined production and managed nearly $454 million in client assets.

Dubroff, Bernstein and Rothschild each worked at Citigroup for more than 15 years, while Wayne spent more than eight years there, according to the Financial Industry Regulatory Authority.

In Bellevue, Wash., Wachovia recruited Smith Barney brokers Jack Petersen, Paul Capeloto, Tama Borriello, and Monty Grau. The team had about $3.5 million in combined production and $544 million in assets under management.

Petersen worked at Citigroup for more than 15 years, while Capeloto spent nearly 19 years there, according to Finra records. Borriello and Grau were nine-year Citigroup veteran, Finra records show.

Other new recruits include David Hohimer and William Hochwalt from UBS Wealth Management US, a unit of UBS AG (UBS). Hohimer works in Wachovia's Seattle office, while Hochwalt is based in Scottsdale, Ariz. Hohimer was a $1.5 million producer, with $164 million in assets under management, while Hochwalt had approximately $1 million in production and managed about $140 million in client assets.

Hohimer worked at UBS and predecessor firm McDonald Investments for more than seven years, according to regulatory records. Hochwalt spent 15 years at UBS, Finra records show.

In addition, Wachovia added Peter Disanza, Richard Gallos and Gregory Milazzo from Merrill Lynch Global Wealth Management, a unit of Bank of America Corp. (BAC). The team, based in the Wachovia's New York office, had more than $3 million in combined production and managed about $366 million in client assets.

Disanza worked at Merrill Lynch for 14 years, while Gallos spent more than 15 years there, and Milazzo was a 10-year firm veteran, regulatory records show.

Representatives from Smith Barney, UBS and Merrill Lynch confirmed that the brokers had left the firms.

<?: prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />MORON”S<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I cannot imagine these people being smart enough to manage anyone's money!

No regrets! Just curious about what I left on the table. I am quite happy with my change (UBS & 260%) and it is nice to know who my friends are! Definitely a smaller number than I thought. I have a few sharp shiny ones stuck in my back.

[quote=Greenbacks][quote=cmein1999]

NEW YORK -- Wachovia Securities, a unit of Wells Fargo & Co. (WFC), has recruited 177 experienced financial advisers in February, a company spokeswoman said.

The advisers, who will work in the firm's private-client group, bank brokerage or independent advisory business, had more than $92 million in combined trailing 12-month production and managed nearly $11 billion in client assets at their respective firms.

The recruiting tally reflects new hires as of Feb. 20, who joined Wachovia before the company announced last Friday that Wells Fargo won't be handing out retention packages to Wachovia's more than 14,000 brokers.

The new hires underscore Wachovia's recent push to add brokers from its competitors. Wachovia brought in 178 experienced advisers in January, its highest monthly total.

Some of the new hires include Marc Dubroff, Andrew Wayne, Michael Bernstein and Rochard Rothschild, who joined Wachovia from Citigroup Inc.'s (C) Smith Barney retail brokerage. The team, based in Wachovia's New York office, had about $4 million in combined production and managed nearly $454 million in client assets.

Dubroff, Bernstein and Rothschild each worked at Citigroup for more than 15 years, while Wayne spent more than eight years there, according to the Financial Industry Regulatory Authority.

In Bellevue, Wash., Wachovia recruited Smith Barney brokers Jack Petersen, Paul Capeloto, Tama Borriello, and Monty Grau. The team had about $3.5 million in combined production and $544 million in assets under management.

Petersen worked at Citigroup for more than 15 years, while Capeloto spent nearly 19 years there, according to Finra records. Borriello and Grau were nine-year Citigroup veteran, Finra records show.

Other new recruits include David Hohimer and William Hochwalt from UBS Wealth Management US, a unit of UBS AG (UBS). Hohimer works in Wachovia's Seattle office, while Hochwalt is based in Scottsdale, Ariz. Hohimer was a $1.5 million producer, with $164 million in assets under management, while Hochwalt had approximately $1 million in production and managed about $140 million in client assets.

Hohimer worked at UBS and predecessor firm McDonald Investments for more than seven years, according to regulatory records. Hochwalt spent 15 years at UBS, Finra records show.

In addition, Wachovia added Peter Disanza, Richard Gallos and Gregory Milazzo from Merrill Lynch Global Wealth Management, a unit of Bank of America Corp. (BAC). The team, based in the Wachovia's New York office, had more than $3 million in combined production and managed about $366 million in client assets.

Disanza worked at Merrill Lynch for 14 years, while Gallos spent more than 15 years there, and Milazzo was a 10-year firm veteran, regulatory records show.

Representatives from Smith Barney, UBS and Merrill Lynch confirmed that the brokers had left the firms.

MORON”S

I cannot imagine these people being smart enough to manage anyone's money!

[quote=stop_whining] [quote=Greenbacks][quote=cmein1999]

NEW YORK -- Wachovia Securities, a unit of Wells Fargo & Co. (WFC), has recruited 177 experienced financial advisers in February, a company spokeswoman said.

The advisers, who will work in the firm's private-client group, bank brokerage or independent advisory business, had more than $92 million in combined trailing 12-month production and managed nearly $11 billion in client assets at their respective firms.

The recruiting tally reflects new hires as of Feb. 20, who joined Wachovia before the company announced last Friday that Wells Fargo won't be handing out retention packages to Wachovia's more than 14,000 brokers.

The new hires underscore Wachovia's recent push to add brokers from its competitors. Wachovia brought in 178 experienced advisers in January, its highest monthly total.

Some of the new hires include Marc Dubroff, Andrew Wayne, Michael Bernstein and Rochard Rothschild, who joined Wachovia from Citigroup Inc.'s (C) Smith Barney retail brokerage. The team, based in Wachovia's New York office, had about $4 million in combined production and managed nearly $454 million in client assets.

Dubroff, Bernstein and Rothschild each worked at Citigroup for more than 15 years, while Wayne spent more than eight years there, according to the Financial Industry Regulatory Authority.

In Bellevue, Wash., Wachovia recruited Smith Barney brokers Jack Petersen, Paul Capeloto, Tama Borriello, and Monty Grau. The team had about $3.5 million in combined production and $544 million in assets under management.

Petersen worked at Citigroup for more than 15 years, while Capeloto spent nearly 19 years there, according to Finra records. Borriello and Grau were nine-year Citigroup veteran, Finra records show.

Other new recruits include David Hohimer and William Hochwalt from UBS Wealth Management US, a unit of UBS AG (UBS). Hohimer works in Wachovia's Seattle office, while Hochwalt is based in Scottsdale, Ariz. Hohimer was a $1.5 million producer, with $164 million in assets under management, while Hochwalt had approximately $1 million in production and managed about $140 million in client assets.

Hohimer worked at UBS and predecessor firm McDonald Investments for more than seven years, according to regulatory records. Hochwalt spent 15 years at UBS, Finra records show.

In addition, Wachovia added Peter Disanza, Richard Gallos and Gregory Milazzo from Merrill Lynch Global Wealth Management, a unit of Bank of America Corp. (BAC). The team, based in the Wachovia's New York office, had more than $3 million in combined production and managed about $366 million in client assets.

Disanza worked at Merrill Lynch for 14 years, while Gallos spent more than 15 years there, and Milazzo was a 10-year firm veteran, regulatory records show.

Representatives from Smith Barney, UBS and Merrill Lynch confirmed that the brokers had left the firms.

MORON”S

I cannot imagine these people being smart enough to manage anyone's money!

A lot of speculation surrounding Envision. For what it’s worth, I embraced Envision when it was rolled out 3 years ago in ISG. I already have Envision plans on most of my top households. I’ve done more than 130 of them.   So, I have some experience with this and I’ll try to answer some of the questions I’ve read.



Is Envision helpful for the client? Totally depends on the client’s situation. I’ve found it extraordinarily helpful in attracting additional assets or providing an edge in a competitive situation.   It’s also helpful for more complex situations.   But, for folks who are already retired, have it made and whose assets are already with you - it’s pretty much useless.



Does it make the client more loyal to the firm?   Not really.   There’s absolutely nothing about Envision that makes the client any more or less loyal to the firm. Seriously, there is nothing about Envision that “ties” the client to the firm. I am considering a move, and I am not the least bit worried about taking my folks who have done the Envision process.



What does the firm get out of it? Well, that’s a good question. I have not yet seen the firm, insomuch as I can tell, use the Envision plan to prospect my clients in other areas. Most of the info included in the plan, the bank already knows anyway.   And, I don’t always input every single aspect of the client’s situation. Sometimes, I’m just looking to present one solution and I purposefully leave out a lot of unnecessary info., especially things like real estate assets, liabilities, etc. You control the information, so…   Although I am skeptical of the firm, I do believe that its motivation is that it truly believes it will simply drive advisory business and create fewer compliance issues. I really think it believes Envision is useful. I, however, think they’ll ditch it, just like every other idea, 5 years from now.



Does it create a “big brother” situation.     YES!!! A resounding yes!   That’s my biggest issue with Envision.   I get an email once per quarter from compliance with a spreadsheet that shows any plan that has fallen out of the “target zone”.    It is also sent to my manager.   We are given about a month to contact the client and either “scrap” the plan or make the necessary adjustments to get it back “in the zone”.    And, “scrapping” the plan is not as easy as just turning it off. You have to have the client sign a form saying that they choose to quit doing the Envision plan.   Also, if the asset allocation of your client’s portfolio starts varying significantly from the “recommended” allocation of the plan, you get a nasty gram from compliance asking you to document the reason.   I’m getting a lot of those now because I’ve heavily overweighted my clients in cash and fixed income. So, if their recommended allocation is “moderate growth” and they’re 75% fixed income right now, I’m having to do a lot of extra work documenting my reasoning, which is just plain stupid. Isn’t it OBVIOUS why I’m overweighting cash and fixed income?    My point is that the firm is encouraging us to run a bunch of Envision Plans on clients that don’t really need it. I did that before because of the Envision promotion they had previously.   Little did I realize all of the extra work it leads to. If you’re going to actively use it for a client that needs it, that’s one thing. But, for those clients who don’t (more than 50%) you’re just not going to keep up with it and it’s going to create big brother headaches.



Hope this helps.

Oh, one more thing in the effort to clear up some of the misinformation. I think Buki Rod mentioned in a previous thread that the Wells “bank brokers” are on a salary with a small bonus. That is completely false. Being ISG and having been realigned out of the securities firm and into the bank under Wealth Management, that was our first concern. So, we picked up the phone and called a Wells FA in California.    He’s been an FA with Wells for 12 years. He confirmed that they are on 100% commission and their grid is almost identical to ours in ISG.    



In fact, the average production of a Wells FA is slightly higher, about 8%, than that of an ISG rep. However, they’re average account size is significantly higher.   Fewer clients, higher account size - that’s a good thing.



Some of the confusion may be coming from the fact that Wells has a series 7 licensed BANKER position that Wachovia doesn’t have. This person is called a Personal Banker 3 and can sell a narrow range of products. They are on salary with bonus, so this may be have caused some of the misinformation.   They target clients with $250k or less.   Anyone with $250k or more or who they feel needs more expertise, though, is referred to the regular FA.    



I’m not sure if this will be a good thing or bad for those of us in ISG. If you do a lot of business with clients who have less than $250k, it can be bad. If you have the kind of book where you only want more affluent clients, it can be good.   I can also see it playing out different ways depending on if you’re in a smaller market or a larger city.    But, I do know that Wells FAs are NOT on salary.



As far as PCG/Finet, I am fairly certain that Wells is indeed looking to divest of Wachovia Securities at some point.   

[quote=stop_whining]



stopwhine:



u are annoying

ur full of crap



with a great degree of certainty im betting ur profile is as follows:



15 years in biz

3ed wife

$550k biggest year (2000)

u drink way too much

min 2 arbitrations

5 or better handicap

Work the forefront  bonus. Go to Finet. You keep it. Work. If you lose clients, work. The 70's and early 80's were worse than now. We made money then because we had a good job. We are going back to those days. Work. Our investments will not make us as rich as our work.

Stumpfed…thx for the insight…looks more like a compliance tool…my problem is it may be a nice tool but they force it at you and pigeonhole every advisor into what they want and they do it by skewing the pay etc. Limits some of the entrepreneurship of the business…end of the day …its time to examine alternatives across the street…after 2 plus decades w/AGE and assets of 140mm w/ approx 1mm in prod…this is a royal pain…Thanks Bob Bagby and Doug Kelly for yanking the firm from under us…Best culture and back office anywhere in the industry and DL& co has mauled and destroyed it in less than 24 months…pathetic…DL has one desire…to run the biggest b/d in the western hemisphere…his universal bank model was only a means of providing capital to buy firms and pay off ceo’s to sell their companies to WS…now the new owners arent providing the $ and its bit DL in the backend…He desrves it…unfortunately the rest of us have to put up with it or move…as I said before …time to fly.

stumpfed,



good posts re: envision.



i’ve been using the envision platform since inception as well. lots of fluff. remember the flashcards?   

Anyone interested in hearing about our Producer Transition Package.  Send me a personal message.

Anyone interested in hearing about our firms Producer Transition Package, send me a personal message.

No

[quote=rjm]Anyone interested in hearing about our firms Producer Transition Package, send me a personal message.[/quote]
 You should definitely personal message FormerMD. I sense certain synergy there.

this thread,like WS is dieing/dead



RIP



"any news about wachovia Retention"   

you were a great champion



sadly, like montana going to KC…

or namath going to (where did he go?)



you might limp past 400.

retire now, like Seinfield …on top

you earned it