500 or bust?
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[quote=Baba Booey] [quote=Reggin] [quote=Baba Booey] I don’t understand why all the WS/AGE legacy guys are expecting a retention. WB paid $25 billion for Golden West, bought AGE, paid a retention to AGE legacy 18 months ago, then the company basically went tits up. Now WFC is expected to pay a retention…why?
If you don’t like working for WFC, then leave…I hear a lot of firms are hiring. Just sounds like a lot of bitching. Is it in the best interst of the clients/sharholders to shell out another retention package?[/quote] WB paid AGE guys to transition to WB not to WFC. I can’t believe I have to explain this to you, but you don’t seem that smart. [/quote]
So now you need to get paid to transition to WFC? Got it, the transition to WB from your desk must have been tough.[/quote]
We’re STILL going through the transition. Between the complete overhaul of the computer system to learning the new procedures not to mention the new grid and client fee’s that is what we got paid for. The inconvenience of moving to the WB platform. Now if they want us to do it all over again to WFC, they will have to pay up again. Please pay attention before you comment on something you could not possibly understand.
wachovia brokerage is going to be spun off. watch.
taking tarp money and paying retention is not going over wellWe didn't go tits up.....and I don't have to explain to my clients why we needed TARP dollars. I guess you're right...that is MUCH better.
We didn’t go tits up…and I don’t have to explain to my clients why we needed TARP dollars. I guess you’re right…that is MUCH better.
That's because you're too busy explaining to them WHO you are. RBC?! What's that, don't they make cola? I have never lost a single client to your sad little office in my city. No one has ever heard of them.
Didn’t AGE go through a tech/platform change prior to the WB sale? You still have brokervision right? Even if you don’t you need to get paid to learn a new CRM? You think you need to get paid to understand the grid, that must be a complex grib. Come on, you’re just being greedy…
why do we want to get paid?
because we can, brother. we bring in the revenue.
and it aint easy
u sound so jealous
what REAL firm did u fail at and when?
I spent more time explaining who AGE was when I worked there in 2000. Not all RBC offices are created equally, our office has 9 brokers and does $12mm in production...I don't have to explain who we are in my city.
Baba are you really that much of a rookie, piker, idiot? Are you? Was WFC involved in the WB/AGE deal? Were they? WFC is buying WB. New deal , new retention. OK, because my old girlfriend did things with me the new girlfriend does not have to do those things because the previous one did. Right.
Didn’t AGE go through a tech/platform change prior to the WB sale? You still have brokervision right? Even if you don’t you need to get paid to learn a new CRM? You think you need to get paid to understand the grid, that must be a complex grib. Come on, you’re just being greedy…
Yeah, we should get paid to learn an entirely new computer system that doesn't have brokervision.
Yes, we have to explain to clients all the new fees and all the other BS associated with a name change.
There is a lot of work that we don't get paid on to make this merger a success and to hold the hands of our clients. You would know that if you've ever been through one.
I spent more time explaining who AGE was when I worked there in 2000.
That explains the bitterness. Did you quit or did they fire you for low production.
I am a ws broker and came over on a deal from another firm 3 yrs ago. i am still on a deal so i dont feel i deserve a retention deal. My manager says I may get one but I am not focusing too much on it.
Truthfully do we really deserve much?? I just don't get why everyone feels so entitled to a retention deal. I think a lot of the threats of leaving are just that. Most guys will stay. Some will leave but thats the nature of the business. I think WFC is probably just baffled at how our industry works and doesnt get it and is really given danny a lot of resistance. My guess is there will be a deal but it will be a lot lower than the estimates.I agree it aint easy, especially when you have to explain why your firm made so many poor decisions. Not jealous, just think it's funny listening to a bunch of grown men cry about not getting a payout. Instead of asking the firm to pay you out for no reason, make it happen yourself...either leave or go indy. Didn't fail, was a wholesaler for 6 years, then went back into production....why do we want to get paid?
because we can, brother. we bring in the revenue.
and it aint easy
u sound so jealous
what REAL firm did u fail at and when?
Left production to be a bagel and donut slinger, then went back? Something stinks and it isn’t just the lox on your bagel.
You got 11 million in accts, which is nice, he got a check for 1,500,000 to look at (which is VERY NICE)!! Guy is probably brilliant, ML will be belly up in couple years and then he is free to do it all over again. Can probably come to WS, or whatever it will be and be right back in his old office and get another 100% deal.Then quit bitching and leave. Third biggest broker in our office left to of all places Merrill for 150% and I have eaten 11 million of his accounts in the last 3 weeks. Good luck with your new firm. I hope they give you the respect you deserve
I averaged $225k from the age of 25-31 slinging bagels and doughnuts…saved a shit load of money to whether the income hit, now I’m back. While in production at AGE, I was recruited by Jones to take over a $20mm office and was offered the wholesaler job. Decided to cut my teeth as a wholesaler.
Baba booey you clearly are an idiot based on your comments and questions. What the f— is RBC? Let me explain why a retention from Wachovia to Wells is in order.
Dear Mr AGE guy, we Wachovia have bought A.G. Edwards and with the numerous choices you have would like you to continue to have you work for us. Ok, I will bite, looks like a good company, good stock, thank you for the 1.2 mill check.
1 1/2 years later, oh by the way we forgot to tell you based on our idiot CEO’s decisions we are going to do the following
1. Turn your 1 million in company stock into 200K
2. Almost go bankrupt and put you through absolute hell with our Wachovia to Citi to Wachovia independant, to Wells decision making, all while you are having to field 1000 calls on whether your money market is safe
3. We are going to turn your long term options into wothless pieces of shit
4. We are going to hang you out for 17 weeks wondering what company you are even going to be working for. When your clients call to ask them who they do business with you have to say “Me, beacuase our corporate cant make a f—ing decision”.
Thats why !!!
I often wonder why people like you that dont even work for Wachovia or Wells would even be on a forum like this. You quit us 8years ago. You had a hard time explaining who AGE was when you were there? What a f—ing moron. I would guess you are single, bored, sitting in your underwear, eating your swanson frozen dinner at the computer wondering if you are going to break 100k this year.
Ps: In case I didnt already say it, you are a f—ing moron
[quote=BE PATIENT]Then quit bitching and leave. Third biggest broker in our office left to of all places Merrill for 150% and I have eaten 11 million of his accounts in the last 3 weeks. Good luck with your new firm. I hope they give you the respect you deserve
You got 11 million in accts, which is nice, he got a check for 1,500,000 to look at (which is VERY NICE)!! Guy is probably brilliant, ML will be belly up in couple years and then he is free to do it all over again. Can probably come to WS, or whatever it will be and be right back in his old office and get another 100% deal.[/quote]
same office funny…