500 or bust?
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Beyotch…mass exodus is coming. Run a headcount on those brokers in a couple of months.
You should have kept your book. Only a matter of time before WFC figures out no need for you. Middle mangement ALWAYS first out the door. Good luck with that.
Also, your manager’s spin needs a lot of work. Your whole post was how sh!tty everything is.
[quote=clang]Beyotch…mass exodus is coming. Run a headcount on those brokers in a couple of months.
You should have kept your book. Only a matter of time before WFC figures out no need for you. Middle mangement ALWAYS first out the door. Good luck with that.
Also, your manager’s spin needs a lot of work. Your whole post was how sh!tty everything is.
[/quote]
I think it’s a bit naive for you to expect that a bank-owned wirehouse is going to cut out unnecessary layers of management. I mean really…think about it!
Did they announce the AGE retention bonus yet?
lol true dat. …What will happen is WFC will figure one of their own guys ( on the bank side) will do it for less money.
I bet you are not dealing with california brokers or mo/ak brokers. This weekend is when the most determined FC's leave. Nobody is going to leave in Feb because the bonus was paid this week . You leave on Friday after eveyone and the MGR are gone. Now....having said that, if in three weeks there has been no mass exodus then we can say what you have said. After that it would be considered regular attrition. Any Friday is a special day. AGE ....If we have no big exit this month and next, the firm will use it against us. Let's take the advice of our WB/WS brothers and lead, follow or get out of the way.400 or bust? I haven’t been back here in a few weeks - but hey, I’ll help y’all make it to 400. As someone who deals with 60 or so branches and about 700 brokers on a daily basis, I will say that there are a handful that are TRULY considering leaving. Sure, everyone was pissed initially at the “no retention” deal, but now, not so much. I see the weekly attrition report, and contrary to popular belief (or at least your belief, nestegg) - there is no mass exodus. Sure, there are bad attitudes in the home office - because most everyone is learning a new system right now, and when all you deal with are people in the field bitching about how broker vision was fabulous and CM sucks, you tend to get dragged down and have to fight your way back out of the sludge!. Going from the AGE service model, which was very personal, to the WS service model, which is very automated and IMpersonal, is a learning curve for everyone, and is not a pleasant experience, including for those people you’re dealing with in St. Louis - they’re no happier about it than you are. Contact management is new for EVERYONE (except the legacy WS FAs, who haven’t experienced that privilege just yet), and it shouldn’t have ever been released yet, but had to be so there would be somewhere for the BV info to go! Your info is there, you just have to spend a little time learning it. Fixing it. Cleaning it up. I was there when BV was released, and it wasn’t all rainbows and sunshine. People bitched then. That’s human nature. But if it takes you a few (or even a few HUNDRED hours to fix it, initially), that’s a one time expenditure of time to make your life easier. That’s a drop in the bucket of what the people who are developing the new CM are spending (and yes, they ARE legacy AGE people, so stop blaming!). People will leave. If you think you’ll have a better deal elsewhere, then go. Buh bye. Times, they are a-changin’. I don’t always like it, and I certainly don’t condone some of the things that have gone on over the past few months at WS, but the financial world is different now. If you don’t see that, you need to pull your head out and join the real world.
[quote=Redpen]
You leave on Friday after eveyone and the MGR are gone.[/quote]
If you leave too late “after everyone is gone”, to whom can you submit your resignation?
What do you do if you leave so late that you can’t submit your license for transfer because FINRA is shut down for the weekend? Do you risk calling folks when you are technically not legal, or do you sit on your hands all weekend waiting for Monday to come, while your former BOM calls all the sharks in your former branch in on Saturday morning, hands out your accounts and they start talking to your clients?
I think you have some bad information…
[quote=HymanRoth] [quote=Redpen]
You leave on Friday after eveyone and the MGR are gone.[/quote]
If you leave too late "after everyone is gone", to whom can you submit your resignation?
What do you do if you leave so late that you can't submit your license for transfer because FINRA is shut down for the weekend? Do you risk calling folks when you are technically not legal, or do you sit on your hands all weekend waiting for Monday to come, while your former BOM calls all the sharks in your former branch in on Saturday morning, hands out your accounts and they start talking to your clients?
I think you have some bad information....
[/quote] At 4:30 you put your letter of resignation in the MGR's mail box and call your new firm to send out announcement letters. You call your clients to announce you have left. You can not solicit but if they want to ask questions you can answer them. The point is you get a jump, come monday the departing broker has called his book and a letter is at the clients door. I was a MGR and this is how we did it
[quote=Redpen] [quote=HymanRoth] [quote=Redpen]
[/quote]If you leave too late “after everyone is gone”, to whom can you submit your resignation?What do you do if you leave so late that you can’t submit your license for transfer because FINRA is shut down for the weekend? Do you risk calling folks when you are technically not legal, or do you sit on your hands all weekend waiting for Monday to come, while your former BOM calls all the sharks in your former branch in on Saturday morning, hands out your accounts and they start talking to your clients?I think you have some bad information…[/quote]
At 4:30 you put your letter of resignation in the MGR’s mail box and call your new firm to send out announcement letters. You call your clients to announce you have left. You can not solicit but if they want to ask questions you can answer them. The point is you get a jump, come monday the departing broker has called his book and a letter is at the clients door. I was a MGR and this is how we did it[/quote]
What kind of a Puss “slips it in the managers box at 4:30” then runs like a little girl. If you’re going to resign, be a man about it.
[quote=Redpen][quote=HymanRoth] [quote=Redpen]
You leave on Friday after eveyone and the MGR are gone.[/quote]
If you leave too late "after everyone is gone", to whom can you submit your resignation?
What do you do if you leave so late that you can't submit your license for transfer because FINRA is shut down for the weekend? Do you risk calling folks when you are technically not legal, or do you sit on your hands all weekend waiting for Monday to come, while your former BOM calls all the sharks in your former branch in on Saturday morning, hands out your accounts and they start talking to your clients?
I think you have some bad information....
[/quote] At 4:30 you put your letter of resignation in the MGR's mail box and call your new firm to send out announcement letters. You call your clients to announce you have left. You can not solicit but if they want to ask questions you can answer them. The point is you get a jump, come monday the departing broker has called his book and a letter is at the clients door. I was a MGR and this is how we did it[/quote]
Really?
I call BS. That's a high-risk strategy at best. For starters, if nobody at your branch can acknowledge that you've resigned, how can you be sure that the folks in licensing at your old firm will release your license?
Or are you going to take the risk that you could end up calling folks all weekend from your new firm while technically still licensed with your prior firm?
When we left UBS several years ago, we resigned the day after thanksgiving when the manager was out. We did do it first thing in the morning and the letter was handed to the ops manager.
[quote=training wheels]When we left UBS several years ago, we resigned the day after thanksgiving when the manager was out. We did do it first thing in the morning and the letter was handed to the ops manager. [/quote]
A couple of key differences here compared to RedPen’s hypothetical scenario…don’t you think?
You can leave a letter , resign, call your clients and announce where you are now... That is it. You can send a letter of announcement. If the client starts to ask questions you can answer. You can not have a seminar or run an ad in the paper or say call me if you want to move. Just announce. You can take with you name address and phone of client list . That is it. Do it the way I am describing and get a headstart. If you have no concerns for the firm you are leaving , and believe me 10 guys will be on your book Monday insinuating all kinds of stuff, you need a headstart. " Being a man about it " gives the competition another day or two to plan their attack on your book. They can't hold your lic. if you have a clean record.
By the way , you can resign when you want to. If your manager is playing golf and you want to quit, you do not have to wait until he or she is there. You quit when you want to quit.
walked in told my manager face to face and explained why I was leaving, he understood, handed the letter and left…much better to be a man about it and leave on good terms rather than like a thief in the night IMO!