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

[quote=JamesF]

I agree. I will be gone.

With this time passing.  The silence.  At what point is the silence mean all the rumors are true.  We all want to believe we get retention.  We were led down that road in all channels by their own words.  At this point I have lost all faith.  Where is the humanity.  FEB…4 months.  How can WFC do this to us.  How hard is the math?  Does anyone really believe that this week is the end?  The other firms are still paying, but the numbers are going down.  Staying for the hope of retention and subjecting us to this silence is now nuts.  When is the friggin announcement…even if it is zero.  As a large producer I want to have faith.  The math works for a decent retention to stay.  How long do you keep plan B on hold before you look pathetic? 

Patience is bitter… but its fruit is sweet.

I've been coached it's not coming - her's why:  WFC is looking for a place to unload WS - and it ties the purchaser's hands if there's some sort of retention that doesn't fit the purchase's business plan - particularly in cities where there's ackward geographical overlap with acquiring firms.  Unloading is a slow process, and being strung along is an unfortunate side effect.  Too bad, so sad.

How long do you keep plan B on hold before you look pathetic?
******************************************************
I think the FA force does look at it as pathetic at this point and there is animosity towards managements handling of this thing. A very good decision would be to put this debacle to rest. A good but regrettable move would be to announce even if its no. A smarter move would be to pay the retention and retain a happy and high quality adviser force. I use the word force because we are the foot soldiers who make it happen every single business day of every month of every year. When the troops ain’t happy, there are problems.

This is epic… the suspense is killing me, a must read nightly thriller! And I am just a mere indy rep with no skin in the game.

WFC has a tremendous opportunity.  Other firms have their share of issues. WFC could step and take care of the advisors, improve moral, sending a message to all the advisors in our biz that WFC is a good place to build a biz and serve the client.   And go back on the offense.

warner crushes me in panther loss.

i get on his band wagon

he does it again in a loss

CDQ,

[quote=Mucho de Tejas] This is epic… the suspense is killing me, a must read nightly thriller! And I am just a mere indy rep with no skin in the game.

Lots of speculation about wells selling ws to ubs.  Latest news on UBS is they tried to sell there own brokerage unit to Morgan Stanley late last year.  Maybe WS is buying UBS instead.  Maybe then they will announce retention.

[quote=scotsman]Lots of speculation about wells selling ws to ubs.  Latest news on UBS is they tried to sell there own brokerage unit to Morgan Stanley late last year.  Maybe WS is buying UBS instead.  Maybe then they will announce retention.

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SINGAPORE, Feb 3 (Reuters) - UBS (UBSN.VX: Quote, Profile, Research) held talks to sell its 8,000-strong U.S. brokerage business to Morgan Stanley (MS.N: Quote, Profile, Research) late last year, the Financial Times reported on Tuesday, citing people close to the situation.

The newspaper said the discussions over UBS Financial Services were unlikely to continue as Morgan had since taken a majority stake in a joint venture brokerage with Citigroup (C.N: Quote, Profile, Research). But it signalled the Swiss lender's willingness to take drastic steps to overhaul its business.

According to the FT, UBS Financial Services, which UBS acquired in 2000 through its $11.8 billion purchase of PaineWebber, is one of the largest brokerages in the United States with pretax profit of $619 million in 2007.

UBS and Morgan declined comment, the newspaper said.

(Reporting by Kevin Lim; Editing by Sanjeev Miglani)

© Thomson Reuters 2008. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

UBS has said it will reduce risk-taking and the balance sheet, scale down the securities unit to complement wealth management and return to profitability this year.

[quote=3rd ID] How long do you keep plan B on hold before you look pathetic? ******************************************************I think the FA force does look at it as pathetic at this point and there is animosity towards managements handling of this thing. A very good decision would be to put this debacle to rest. A good but regrettable move would be to announce even if its no. A smarter move would be to pay the retention and retain a happy and high quality adviser force. I use the word force because we are the foot soldiers who make it happen every single business day of every month of every year. When the troops ain’t happy, there are problems.

[/quote]

Smart business decision, if you intend to pay retntion is to announce it ASAP, the way WS has always done it, and the way ML did it.



Smart business decision if you do NOT intend to pay retention, or crap retention, is NOT to openly announce ANYTHING, as an announcement will simply prompt a mass exodus. Instead, by making no announcement you string the masses along for months and months, and watch them hanging on, hoping, wishing rationalizing and dreaming.



Which scenario sounds more familiar to you WS folks?

[quote=NCGNTO] [quote=Mucho de Tejas] This is epic… the suspense is killing me, a must read nightly thriller! And I am just a mere indy rep with no skin in the game.

Well it is true.  It is now being reported that ubs and wb are in talks about a possible joint venture.  go to cnbc.com