500 or bust?
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Good for you, were to nestegg?[/quote][quote=shredder][quote=nestegg]I did too…and when I no longer did I left…about 4 weeks now…that’s right folks I am out.
Never thought I would leave...I went where was best for my clients and ms...didn't take the biggest check...didn't go to a wirehouse...din't go indy (not for me)...wen't to the closest thing to the old AGE..and I fell like I stepped back in time to how things used to be.
[/quote] so, SF or RJ?
Good for you, were to nestegg?[/quote][quote=nestegg] [quote=shredder][quote=nestegg]I did too…and when I no longer did I left…about 4 weeks now…that’s right folks I am out.
Never thought I would leave...I went where was best for my clients and ms...didn't take the biggest check...didn't go to a wirehouse...din't go indy (not for me)...wen't to the closest thing to the old AGE..and I fell like I stepped back in time to how things used to be.
[/quote] so, SF or RJ?[/quote]
SF
In the few short weeks I have been here we have already opened several new offices filled w/ WS/AGE people, and weekly more are coming to existing branches..it really is quite something.
So far everything has been beyond expectations and moving clients has been easier than expected.
Still a good choice from what I’m hearing from my former colleagues that went there … they are very happy with their choice & all have been successful in moving over clients as you say.
OK back to retention, I can start a new thread about my move when I can get a chance to digest and post the good and bad…I will say for those thinking about moving…don’t be afraid, if you have good relationships your clients will go regardless of the market…I was very concerned and already have 60%+ of my book over or in ACAT status with more on the way. 90%+ A clients are already over.
Dude, I worked as an RP for 9 years - left recently on my own … I like Danny and also thought he was a good guy . It became very clear that the decision is not his and he has been neutered . Wells runs the show and he has had his final curtain call .
all this clamoring about retention - get over it … If wells had not bought WB, you would have lost 100% of your deferred comp, and your clients would be all looking for a new place to do biusiness without you. Since when does it make good business sense to pay brokers unsecured loans to sit in the same desk, do the same job with a better name over the door, have more capital to do your job, and a company that can invest in the technology and platform to help you with your business ?
If the company was your own , the answer would be to go screw yourself…
Anyone can leave and they should , and then leave in 5 more years when the check becomes bigger at the nest firm. eventually the SEC and other regulators will realize this is the most ridiculous scam in our business and make companies compete based on platform , management ability, and capital and resources. It could start by informing clients of the ridiculous checks to stay at a firm after most of your clients lost 40% plus last year…
What a self righteous , pompous arrogant bunch of people to think you " deserve " a retention bonus for doing nothing but waking up in the morning and having a place to work… Sell your wares somewhere else and move on… life is to short !
Thats what is great about the capitalist system, if you dont like it, leave and join another firm. Stop the complaining and making everyone else around you miserable.
As for DL , he is a non event … and not very believable based on his prior commitments and statements . So stop worshiping your false gods and wake up…
There will be a retention. It was voted on during the BOD meeting on Weds.
The only whiners are the ones that left prematurely or the ones that have no dogs in this fight yet are here to fill this thread with their predictions of doom.
To the rest of the folks on this thread. This FA does not represent the good folks I have met at WS. I am a former AGE guy and the folks I have met are terrific. We had it good at Edwards.
Having worked for other wirehouse firms I can not disagree more strongly. WS is different. You may not be happy as an ex AGE broker but WS didnt have anything to do with the purchase of Golden West that brought the bank down. You think WS fee's are bad, go look at the ticket charges and fees of MS, SB, UBS and MERCDO Sq- you are a douche bag…period! DL does not walk on water. JH is a puppet and so are you. WS is not different then all the other POS wirehouses! Obviously you weren’t at AGE. Look, it wasn’t perfect, but this CF is just that, a FCF. Read all the integration stuff, it’s all nickle and dime: have a PDA, well that’s $21/mo to your net: discount, well that’s a $15 ticket charge…under $250k, well suck it up and pay $60…bottom line this is turning into a very broker and client unfriendly place to work…I think you might be JH or DL in drag.
[QUOTE=Baller]There will be a retention. It was voted on during the BOD meeting on Weds.
Care to elaborate…
Ok folks…enough of “this is all DL’s fault”…granted I am old school AGE this mess is much bigger thn DL as he is just part of the problem. We AGE (of those that stayed) decided to give WB a chance. The honeymoon was just fine but now it feels like we are sleeping with the enemy. It sucks and is what it is. CDO - Are you sleeping with the enemy???
BukiRob – I couldn’t agree more!
AG Edwards must have given these people afternoon massages every day. Pehaps my world is to closed in but I see payout, product availability, office environment, pressure or no pressure to sell certain things, whether the manager busts your ass over small things like sending a monthly client letter, and to some degree research. Also, don't forget draconian or non-draconian compliance. So, how different could AG Edwards have been on those scores. It really doesn't matter because AGE is no more. We have to deal with reality - the firms that are left. So, WachoFargo seems much better on all those scores (to me anyway) than any other existing big wirehouse option. DL or no DL those are the facts. Why WachoFargo isn't trumpeting those facts is beyond me. The retention announcement is a perfect time to start rebuilding a base of broker loyalty. You do that by re-asserting over and over benefits of working for WachoFargo. McDonalds wouldn't have sold any hamburgers if the ads didn't say how good they are -- you have to keep pitching to the sales force why you are better. ML had me believing that if I ever left I might as well apply for civil service employment because there was no possible way of making it outside of the ML club. We need more of that here to make people really feel good about working at WSWF.[quote=Sell High]
So, WachoFargo seems much better on all those scores (to me anyway) than any other existing big wirehouse option. DL or no DL those are the facts. Why WachoFargo isn't trumpeting those facts is beyond me.[/quote] http://forums.registeredrep.com/forum_posts.asp?TID=8102Did anyone see this today?
Morgan/Smith Barney To Pay Retention To 75% Of Combined Force