What if we were sold off to UBS…  What would a retention look like in that case?  Another 100+ days to hear anything?? 

Danny said on the latest call we would hear about retention at the end of this month or the very first of next.  He didn’t even stutter…

Retention will be here. Just as Danny said, dont read too much into it. I am a 1.2 mill AGE producer and will admit 400k and less may not receive retention but Wells will keep larger producers. News on BofA/ML retention and MS/SB retention will put Wells in position of doing retention. While Wells is very slow they arent stupid, press would have a field day with “No retention” and Wells knows that. I am as frustrated as others with the time it is taking but it will come, then we can all focus 100% on clients without cheching the latest post or latest rumor. Unfortunately we may never see another Ben Edwards, but a retention in our pocket and the financial backing of Wells with our clients will help in getting us through the market bloodbath

Fritz,

[quote=Tincup]Fritz,

What region of the country are you in  and where did they land?

What call? Who do you work for? Fritz you seem to be incredibly pessimistic. Maybe you are a 400k or less broker and wishing you were a mill dollar producer and part of the retention. If there was no retention Danny would not have said “Be patient, and done read anything into time frame”. You think he is going to say be patient then drop the bomb next conference call? You sound like an idiot

Well, I guess there will be no retention. And I dont think Ludeman has
done a damn thing to help at all. If he wanted to help, he could start
by being honest. He was basically forced to address the retention issue
on the conf call as Mary M blackberry was about to self destruct from
overload of retention email questions. He gave it less than 2 minutes
and said maybe we know more in a few weeks. What kind of crap answer
was that? Same lame answer for the last 2 months. Then I believe Mary
was trying to allay concerns and tell us not to read too much into the
fact they dont know yet??? The guys that leave, best of luck. Those
that stay because they cant leave for whatever reason…they wont
forget getting hosed. The conclusion must be there wont be retention
paid. WFC wants to be some kind of an industry maverick and start a new
precedent.

Be Patient…please spare us. We are 3 months into this. We were patient. We are have no more patience left. I wonder how many left today?

If you are out of patience leave. I can only assume your savings or income is only allowing you patience until end of January where as I CAN wait till announcement arrives

would you prefer grape or cherry flavored?

[quote=BE PATIENT]If you are out of patience leave. I can only assume your savings or income is only allowing you patience until end of January where as I CAN wait till announce

UFO cult apparently committed suicide

in belief that they would rise to meet

Hale-Bopp in the sky

from ANewWorld Website

recovered through WayBackMachine Website

Higher Source group commits largest mass suicide in U.S. history.

Group leader turns out to have founded a UFO cult back in 1975,

claiming that his followers would be able to ascend to heaven when UFO’s come to pick them up.ment arrives[/quote]

There is a Jim Hayes FA call this Thursday! What will we hear then?

Plus here is some, maybe, bad news for Merrill brokers

The announcement early this morning by the Treasury Department and the
Federal Deposit Insurance Corp. that the government will invest $20
billion into Bank of America Corp. of Charlotte, N.C., through a
purchase of preferred shares adds uncertainty to the planned retention
bonuses that BofA is scheduled to pay brokers at recently acquired
Merrill Lynch & Co. Inc.

 The first chunk of that money is slated to go to some brokers Jan. 23, said one industry source, who asked not to be named.

That source pegged the total amount set aside to retain New York-based Merrill’s almost 17,000 brokers at $3.6 billion.

Selena
Morris, a Merrill spokeswoman, said it was unclear whether any of the
government money would be used to pay brokers’ retention bonuses. She
also would not comment on the dollar amount the firm was committing to
retain its advisers.

The Treasury earlier invested $15 billion of TARP money in Bank of America.

Also,
the Treasury and FDIC will also give protection against the possibility
of losses of $118 billion in loans, securities backed by residential
and commercial real estate loans, and other such assets, all of which
have been marked to current market value. This is the second time in
five months that Merrill’s registered reps and advisers have seen their
firm pulled from a potential brink.

As Wall Street was collapsing
in mid-September, Bank of America announced it would buy Merrill for
$50 billion. Merrill, like many other former Wall Street titans, has
been bleeding cash. It lost a record $15.3 billion in the last quarter.

Never have truer words been posted here.  (I’m assuming you were speaking metaphorically).

[quote=Ferris Bueller]please edit that, it is a gigantic mess[/quote]


YEAHYEAH I got it. It previewed clean.

I could only imagine if they decided to pull the BACML retention. Brokers would leave in droves.

MS-SB different situation all together

Amen. Wells is the deep pockets on the street right now and will be very careful and cautious, but Ferris is right. They could write a check for retention tommorow and wouldnt affect them a bit. Hell, they got Wachovia for free

Didn’t Wells USED to be AAA…I guess things are still ok though…

what is up with wells.  I mean bac announce the name of the firm for merrill and retention within weeks and so has wachovia, and bear stearns.  at this point freakin forget the retention and give us a freakin name so I can start prospecting again.