500 or bust?
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[quote=WSxAG]
AGE/WS/c?/WFC? guys are awfully quiet today. . .
[/quote] Mass Exodus???[quote=ryedog123]
Timing on retention announcement IMO:
25% chance it will occur this coming week
40% chance it will happen the first week in FEB
15% chance of 2nd week in FEB 10% other 10% Never [/quote] Think I would lower this week a little.Most has already been said. Heres what we know…
1. Danny was in S.F. last Thursday/Friday
2. Wells needs to look over proposal, fine tune and approve
3. Retention needs to be passed through legal
4. Hays said "Right around corner: be patient
Therefore I would imagine the week of February 9th
This is just plain ascinine. I cannot believe how long this has gone on and how badly it has been handled. I can only conclude at this point that THERE IS NO RETENTION PACKAGE, and if they do come out with something it will be a lowball deal that is all screwed up like this whole process has been. Can’t stand it anymore. I am getting out of this (expletive deleted) firm!!
Going independent is kind of a pain, but at least I will be responsible for what happens to me and my clients.[quote=BE PATIENT] Most has already been said. Heres what we know…
1. Danny was in S.F. last Thursday/Friday
2. Wells needs to look over proposal, fine tune and approve
3. Retention needs to be passed through legal
4. Hays said "Right around corner: be patient
Therefore I would imagine the week of February 9th[/quote]
What about the name of our firm???
I am starting to believe the suggestion they were waiting until the conversion to deliver the bad news. Make it easier for legacy WS to get accounts.
You guys with your conspiracy theories. Yes, I believe Wells Fargo got together with Ludeman and Hays, said “Keep telling the brokers retentions around the corner, be patient”. Then when the conversion is here we will pull the rug out from under them. Please tell me you are not that stupid.
Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.
[quote=frickster]
Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.
[/quote] I doubt Wells will sell it, there are no buyers except for maybe Goldman. I could see them wanting a retail brokerage firm, and they have the capital to do it. Problem is that Wells would lose 50billion in the money sweep program that is about the cheapest cost of money a bank can find. It makes more sense to spin off and retain a minority ownership.[quote=short it] man no retention.
im outta here[/quote]
Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.
WS bought AGE who was a brokerage firm. WFC bought WB, a bank and the brokerage came with it..think Wolfgang called it like getting a side of beans when you order a combo plate at a Mexican Restaurant. The beans come with it, dont have to eat them.[quote=short it] man no retention.
im outta here[/quote]
Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.
[quote=short it] man no retention.
im outta here[/quote]
Don’t believe the hype. When WS bought AGE there was a retention thread here as well that had a bunch of douchebags claiming zero retention. You can search for it.
That is true BUT that thread was not 86 pages long!!!
Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.
Your right, but how about Wachovia Securities back as a stand alone company?? I think that would be the topper.Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.
I hate to agree with you but, this whole thing since about May 2008 has turned into a soap opera and it's grown very old: Great UBM (univ. bk model) w/ WB couldn't be better, WB is a strong firm and we are lucky to be associated with them, WB goes bust, great being C, oops, we are indy and that's great too, no wait we are WFC...and obviously there is is "no love"...WTF! I was willing to give them the benefit of the doubt but this is now officially silly. Lost 3 Good CC producers that are close friends recently...they just lost patience....all went to either RJF, SF or UBS... I guess they (DL & Co.) win....I am just too tired doing everything else in this mkt to care anymore. Retention, no retention, WF Advisors, spin-off, F it! I give up. Writing is on the wall. I am waiting to hear what/where we are and then either FiNet or outta here! (leaning more to FiNet). Great offers out there, just don't know if I want to subject myself to more BS.....dispondent and depressed.......Yeah, who are you going to believe, Reggin or your lying eyes? This is just like the AGE/WB deal - Great news! Then the WB/C “deal” - Great News! Now the WB/WFC deal - Great news!
I make NO preditions regarding retention. I will say that in my grandest imagination, I could not have come up with a make-believe scenario that is worse than what has actually happened during that whole process.
[quote=mnbondguy][quote=frickster]
Danny's modified retention was rejected AGAIN last week in SF. WS to be sold soon so retention will come from aquiring firm. ISG nothing.
[/quote] I doubt Wells will sell it, there are no buyers except for maybe Goldman. I could see them wanting a retail brokerage firm, and they have the capital to do it. Problem is that Wells would lose 50billion in the money sweep program that is about the cheapest cost of money a bank can find. It makes more sense to spin off and retain a minority ownership.[/quote]What is the money sweep program?> If it is the cash balances in the brokerage accounts, then that money is not available for general corporate purposes to the bank. It is not the same as bank deposits.
the deal i was looking at just went BYE BYE.
manager said he would call me
there is no retention.
wfc doesnt want ws
there wont be any deals soon