500 or bust?
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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.
Nice. You know more than everyone else who knows nothing because … because your wife is best friends with Tad Edwards wife?!
That’s quite an inside connection. You sound like Dark Helmet in Space Balls: “I am your father’s brother’s nephew’s cousin’s former roommate!”
P.S. One little problem: even IF Tad told his wife anything, and even IF she in turn told YOUR wife something, why in the WORLD would you think that Tad, who is now a COMPETITOR of WF, would have the slightest inside information as to what WF may or may not be intending to do???
At least your original made up story bout being Danny Boy’s neighbor involved a guy who might, just might, have some actual involvement in the discussion on retention.
Stunning, absolutely stunning.
How in the heck do you after 3 missed dates (by thanksgiving, by christmas and shortly after the first of the year.) do you tell people by the end of January and have that date come and go????? It is mind numbing that management is this inept.[quote=BukiRob] Stunning, absolutely stunning.
How in the heck do you after 3 missed dates (by thanksgiving, by christmas and shortly after the first of the year.) do you tell people by the end of January and have that date come and go??? It is mind numbing that management is this inept. [/quote]
Yeah. Inept like a fox.
Maybe it is NOT a matter of Wells not being able to decide what they are going to do about retention. Maybe this non-response IS EXACTLY what they decided to do. Sometimes no answer IS the answer. Stranger things have happened.
[quote=Morphius] [quote=BukiRob] Stunning, absolutely stunning.
How in the heck do you after 3 missed dates (by thanksgiving, by christmas and shortly after the first of the year.) do you tell people by the end of January and have that date come and go????? It is mind numbing that management is this inept. [/quote]
Yeah. Inept like a fox.
Maybe it is NOT a matter of Wells not being able to decide what they are going to do about retention. Maybe this non-response IS EXACTLY what they decided to do. Sometimes no answer IS the answer. Stranger things have happened.[/quote] The problem with that line of thought is that it doesnt make much sense to throw your entire managment team under the bus. In Hays conference call, said " I'm pleased with what I see in retenion and I think you'll be pleased too." Doesnt get any clearer than that. He also said " had we said you'll know something by the end of january there wouldnt be as much anxiaty about this as there is..."
Well Jim, its February and still no word.
The problem with that line of thought is that it doesnt make much sense to throw your entire managment team under the bus.
You’re assuming Wells considers Danny and Hays to be “their” management team. Big assumption, regardless of whatever announcements they’ve made. It wouldn’t be the first time an organization has intentionally let a guy (or guys) from the organization they acquired take the hit for them. Wouldn’t be the last, either.
[quote=BukiRob] In Hays conference call, said " I’m pleased with what I see in retenion and I think you’ll be pleased too." Doesnt get any clearer than that. [/quote]
Really? You consider that clear?! I would think that an actual definitive answer of ANY sort world be much MUCH clearer than “I think you’ll be pleased”, don’t you?
[quote=BukiRob] He also said " had we said you’ll know something by the end of january there wouldnt be as much anxiaty about this as there is…"[/quote]
Well, sure, if you want to exclude their previously mentioned dates of Thanksgiving, Christmas and the end of the year, and if you want to ignore the fact that your competitors continue to deal with issue promptly, or you want to forget that NO ONE has more practice at dealing with post buy out transitions in this industry than Danny boy.
[quote=BukiRob][quote=Morphius] [quote=BukiRob] Stunning, absolutely stunning.
How in the heck do you after 3 missed dates (by thanksgiving, by christmas and shortly after the first of the year.) do you tell people by the end of January and have that date come and go????? It is mind numbing that management is this inept. [/quote]
Yeah. Inept like a fox.
Maybe it is NOT a matter of Wells not being able to decide what they are going to do about retention. Maybe this non-response IS EXACTLY what they decided to do. Sometimes no answer IS the answer. Stranger things have happened.[/quote] The problem with that line of thought is that it doesnt make much sense to throw your entire managment team under the bus. In Hays conference call, said " I'm pleased with what I see in retenion and I think you'll be pleased too." Doesnt get any clearer than that. He also said " had we said you'll know something by the end of january there wouldnt be as much anxiaty about this as there is..."
Well Jim, its February and still no word.[/quote] Jim Hayes call with Managers on Wednesday 4PM. Info on retention will come from your manager not DL or JH, thats how it was last time. Remember?
i remember getting an e-mail, crossing my fingers and saying a small prayer before opening it, and then taking my closest friends out that night to get f****d up!!! what a party!
i need to get f****d up again.“CLEAR” is: Honey I love you…or…Put that back…or Stop doing that…
CLEAR IS: We have decided to provide retention. Stay tuned and we'll update you on the details. CLEAR IS: We have decided not to provide retention. Although times are tough, you work for a AA rated bank for assurance to your clients. Their version of clear is like having 30 people in a room and someone just farted silently. No one knows who did it, but it sure stinks!Since we are going on 4 months now since merger announcement, I think the reality is there will not be any retention. It has become a farce at this point. I do not understand where it was a good business decision to just let this thing ride out this long without any clarity or understanding provided to the FA’s. I really hope I am wrong with my assumptions, but this really has gone on long enough. If there is no intent to pay retention, they should just cut their losses of credibility and say so now. If they actually will be paying something then now is the time to at least provide some clarity on the details and the time frame involved.
[quote=JamesF]
Jim Hayes call with Managers on Wednesday 4PM. Info on retention will come from your manager not DL or JH, thats how it was last time. Remember? Where did you get this information? I asked my manager today and he has not received anything about this. As far as AGE retention it was announced on a conferance call when Wachovia bought AGE.[/quote] JamesF, Spoke with my mgr on the way out this evening.....he stated there is a conference call on Wed. with Hay. My recollection last time the mgr was informed by the RM about the retention before we all got the email.Maybe it it will be announced tomorrow? Our market manager was in today saying the name is being held up by the lawsuit for over time. Was that something we had to sign up for? He also mentioned DL was happy after the WFC BOD meeting, whatever that means…
I remeber the details of the retention coming from a conferance call. I don’t care how it comes this time, just get it over with.
Just like Hays said NOTHING of consequence on the last conf. call, he will say the same tired story, "be patient, we're working on it...etc." The name/law suit thing sounds like just one more smoke screen. With regards to DL and the BOD meeting, what else is the he going to say? "Boy, we're just screwed." ??? Besides I speak with our major mkt manager often and they are as clueless (more so actually) then we are. No one knows anything, only DL and WFC know what's really happening...and even if JH did, he would let on. So we wait. I just want the name announced at this point and I can continue to explore and debate the FiNet option.Maybe it it will be announced tomorrow? Our market manager was in today saying the name is being held up by the lawsuit for over time. Was that something we had to sign up for? He also mentioned DL was happy after the WFC BOD meeting, whatever that means…
They set up two conference calls for the A.G. Edwards retention announcement. The managers had a call first. The brokers call was a couple hours after the managers call.
Just a refresher. I listened to BOTH Hays and Ludeman conference calls today.
Ludeman - Wed Jan 14th
1. Next 2-3 weeks (His words)
2. Almost positive Wells Fargo Advisors (His words)
3. Delay was in part to management in place and Pru situation (His words)
Hays - Thurs Jan 22
1. Danny in SF for retention today (His words)
2. Retention not too far off (His words)
3. Very high probability Wells Fargo Advisors (His words)
4. Name has been delayed due to ALL bad WB news stays with WB (His words)
5. I feel very good about where name and retention will end up (His words)
Now unless Ludeman and Hays are absolutely “The devil” they wouldnt make comments like #5 unless they knew something. You think after all this retention talk and Wells saying “maybe or no” that Hays would come out and say we will be “Very happy”? Come on.
I do not recall him saying that we would be “very happy” He feels good – whatever that means.
Shredder - Really?? Smoke screan. Gentleman heres what we are going to do - lets send smoke screans, deceive them, delay them for no reason. Oh and lets leak the retention out to all major market managers before advisors. You have been watching too much CSI, we will get name and retention and we will all feel stupid for ripping DL and JH. I will admit their communication has been extremely poor
Be Patient…thanks for taking the time to re-listen to those calls and for those KEY talking points. I want retention as much as anyone else. Their words are their words. If they dont come through, then I see it all as just very bad business and will make for real hard feelings among the FA’s. Happy people are productive people.
3rd ID, you hit it on the nose. No retention would be one thing, but blatant bad business would cause WS advisors to leave in droves