500 or bust?
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Vet20 - Here is why. No news is bad news to us. If DL comes on broker call after WFC says “let us put retention together” and says “nothing yet” we all freak out, scream “no retention” and have the company sold to UBS or spun off within a week. If I were Danny I wouldnt get on a call every week to say “Hang on” because we all shred him
You sooo bore me B-Patient
NCGNTO - Question
1. How long in business?
2. What company do you work for?
3. What is your truthfull T12?
[quote=BE PATIENT] NCGNTO - Question1. How long in business?2. What company do you work for?3. What is your truthfull T12?[/quote] 1. 5 yrs sales, 13 yrs total2. I M AGE3. 700mWhy, r u recruiting B Patient??? I think DL might b a little pissy as u claim 2 b his next door neighbor…
I was joking about DL next door neighbor but my wife is best friends with Tad Edwards wife so needless to say I KNOW more than you speculate. 5 year sales and 700k gross - good job. Not recruiting, still trying to figure out what I am going to do. Sorry to bore you but I do believe retention is coming
I was joking about DL next door neighbor but my wife is best friends with Tad Edwards wife so needless to say I KNOW more than you speculate. 5 year sales and 700k gross - good job. Not recruiting, still trying to figure out what I am going to do. Sorry to bore you but I do believe retention is coming
My friend you do not bore me....I just need to find my place in this biz with all the unknown. Yes, AGE was my home and still is...but what next? I have many years to go here so B Patient is what I will try to do. Thank you.
[quote=go_huskies]wells’ bank ops are very similar to isg. similar mgd money platform and packaged products, but no l share annuities. huge focus on life insurance. wells is #5 nationally in life production, but they only have 1200 brokers.
i'd expect wells secures access to certain resources. kind of like ws access to credit suise research. this rumor really makes sense...[/quote]Lots of firms have access to Credit Suisse research...
[quote=go_huskies]nestegg…that response suggests you’re at least as sharp as a marble…[/quote]
Well you were acting like it was extra special that Wachovia had access to Credit Suisse…I know Danny always made it seem that way!
just f’in with you…
it wasn't that it's extra special. it's merely an example of how this could work. wells would likely keep envision, smartstation... by the way, that was one awesome catch by holmes with 35 sec left... uconn #1 in country this weekIf retention is coming Friday, we should see an announcement of a conference call by Monday or Tuesday at the latest.
Now MS is about announce there retention, what does that make WS look like? They're not going to just pop in and announce it out of the blue - if we don't see a conference call scheduled - we're screwed for another month. Thinking about this situation though, if we get 70% some would be very happy. Well that fact makes the independent approach look more and more attractive - even though I've never thoroughly checked it out. I'd imagine if you could do the same business and you'd pick up about 30% every single year plus big tax benefits. Two years later - there's your retention - 3 years after that - there's an upfront deal. Four years from there - more gravy. I think its time to at least explore that approach. Dragging this thing on the way they have has really shown brokers their place or at least what the owners of the company think their place should be. Anyway, I heard it was a done deal - I guess we'll find out next week. As for selling the securities firm, first they'd dump everyone under 300K to boost average production and assets, then they would pay a ton of money to hire million dollar guys, then they'd close offices to improve the bottom line, then they would sell. That's the playbook - why would they just sell damaged goods when they could neaten it up and get four times the price?be careful about the indy route…a giant tsumani of regulation is coming. better is be with a firm to deal with the initial onslaught, then make the move after the dust settles.
indy guys, be ready for the coldest winter...you're now all compliance officers...[quote=Sell High]If retention is coming Friday, we should see an announcement of a conference call by Monday or Tuesday at the latest.
Now MS is about announce there retention, what does that make WS look like? They're not going to just pop in and announce it out of the blue - if we don't see a conference call scheduled - we're screwed for another month. Thinking about this situation though, if we get 70% some would be very happy. Well that fact makes the independent approach look more and more attractive - even though I've never thoroughly checked it out. I'd imagine if you could do the same business and you'd pick up about 30% every single year plus big tax benefits. Two years later - there's your retention - 3 years after that - there's an upfront deal. Four years from there - more gravy. I think its time to at least explore that approach. Dragging this thing on the way they have has really shown brokers their place or at least what the owners of the company think their place should be. Anyway, I heard it was a done deal - I guess we'll find out next week. As for selling the securities firm, first they'd dump everyone under 300K to boost average production and assets, then they would pay a ton of money to hire million dollar guys, then they'd close offices to improve the bottom line, then they would sell. That's the playbook - why would they just sell damaged goods when they could neaten it up and get four times the price? [/quote] wells sells 51% now to avoid most of the likely client complaint litigation that's on the horizon. they'll sell at a bargain price, avoid retention for pcg, then take the proceeds to pay isg retention with $$$ to spare. once a recovery materializes they sell the remaining 49% to almost cover the entire cost of acquiring wb...dem midwestern bankers are pretty sharp!even after retention, it will live. it's become a living thing, sh!t i've been posting during breaks in the super bowl! congrats steelers' fans. great game, not quite eli to tyree, but close...130 pages… What are the odds of 200 pages before retention?
go huskies - what do you base that on. Have you heard news reports or are you just dreaming? See all of these hypotheticals are just speculation made up by those that are absolutely clueless. Lets do our best to stick to the facts. I know - Merrill is losing all their guys so they are going to buy WS, no, no Citigroup needs a broker platform they are going to buy us, wait its Ray James, no UBS. Lets stick to the facts braniac
this whole f’in thread of 130 pages is speculation! i’m responding to a response to my response about a post of a speculative rumor…hmmm, this post could actually kill this thread…
i have no facts, nor do you. this is a freaking message board, not the tao de ching[quote=go_huskies]
wells sells 51% now to avoid most of the likely client complaint litigation that's on the horizon. they'll sell at a bargain price, avoid retention for pcg, then take the proceeds to pay isg retention with $$$ to spare. once a recovery materializes they sell the remaining 49% to almost cover the entire cost of acquiring wb...dem midwestern bankers are pretty sharp![/quote] WFC got WB for just over 10B Between the forced TARP money and the tax credits they will recieve they will have paid nothing for WB. On another note, I do not for a second buy the under 400 gets nothing. Ive heard from multiple sources that the retention was going to be weighted towards the lower end producers. This ISNT MER. Brokers doing north of 200 are profitable at this firm where at firms like MER brokers doing 400 arent profitiable. There is a reason the numbers are what they are when it comes to retention.this whole thing has become such a f’ing joke. We all know what WFC paid for WB/WS. At this point I have no idea if they want/care/love the fact fact they have a large brokerage. If I saw anybody who actuall had something to do with the retention decision, I would probably punch em in the face, not because they may not give a retention package, but for the 4 months of limbo I will never get back.
On a side note, I am thinking about starting a new user ID and coming back as a 3 million dollar producer, just to make myself feel worthy around here.