500 or bust?
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I have no new news or nothing to add. I do know Ludeman had conference call with regionals today, they might know something. Call and ask them
the idea of advanced pay makes sense. I was told that DL had the number from WFC back in the fall…It wasn’t that big and he has been trying to come up with some fancy way of paying retention. My regional was in my office and shared that something was on the way but to keep expectations LOW! He told us that NOTHING will come out until wage per hour case is settled. That will stay with the Wachovia name. They do not want to bring that along with the new firm name. He is very straightforward and has always delivered. This is one time that I hope he is wrong.
[quote=Bernie Madoff] [quote=scotsman] [quote=tdude]ALBERT…GOT THE INFO TODAY… 1)Heard this comment from a less than reliable source…retention will be announced Friday and 2) From a very reliable source that it will consist of an improved grid payout period! That is the non traditional source…When I say payout start thinking 50-55 at the low end and maybe 70-75% at the highend…my guess is a yr…two yrs max… [/quote]
Heard this last week. With the deals that are out there right now this will not cut it for me.[/quote]
Ok then thanksbyeseeyalater. Hope you are in my branch so your accounts get divvied.[/quote] Look This is a one year deal and the latest attempt to keep us in the seat so DL has something to do. We should be paid a traditional retention for all we have had to put up with. Sell us or pay us but do not make us the joke of the industry
[quote=gauge26]
If the increased pay out is for two years. That would put us three years into the contract from the previous retention. So we could enjoy a high payout get our t12 up and then leave to another firm get 140+% with some more back end. All that type of retention will do is pay us well with a defined end date so we can plan leave when the higher payout ends.
[/quote] Exactly why that probably won't happen. With retention they lock you in for another ___ years. Give me the accelerated payout and I'll postpone FiNet and wait till it ends, then go. Or get the t12 back up and depart w/ a lot less to pay back.....should be interesting Friday. I still think it passes with a wimper, unfortuantely.1. I don't think DL has had the #'s since fall...it would have gotten out somehow. 2. The low expectations thing has been passed down for the past month+, it is just cover. 3. The wage and hours case has been dragging on for the past 3 years. You think it's going to be suddenly settled? Next hearing is 3/4/09. 4. Something else is brewing and they are just trying to nail it down, that's why there has been no news. Just too many different excuses they keep floating. Eventually, it's going to come to a head. For now, I just want the conversion to go smoothly.the idea of advanced pay makes sense. I was told that DL had the number from WFC back in the fall…It wasn’t that big and he has been trying to come up with some fancy way of paying retention. My regional was in my office and shared that something was on the way but to keep expectations LOW! He told us that NOTHING will come out until wage per hour case is settled. That will stay with the Wachovia name. They do not want to bring that along with the new firm name. He is very straightforward and has always delivered. This is one time that I hope he is wrong.
Great deal....haircut the products, and then give the brokers an "increased grid", beautiful. Smoke, mirrors and bullshit, I can't beleive you guys will fall for that.
ALBERT…GOT THE INFO TODAY… 1)Heard this comment from a less than reliable source…retention will be announced Friday and 2) From a very reliable source that it will consist of an improved grid payout period! That is the non traditional source…When I say payout start thinking 50-55 at the low end and maybe 70-75% at the highend…my guess is a yr…two yrs max…
Bu that strategy involves no "contract period" or golden handcuffs....everyone would hang for that amount then move on....
[quote=mnbondguy]
Great deal....haircut the products, and then give the brokers an "increased grid", beautiful. Smoke, mirrors and bullshit, I can't beleive you guys will fall for that.
[/quote] +1mbond…wont argue that…clipping advisory accounts is huge and noone talking here about this…and scotsman…we will be the laughing stock of the industry…march 20th an interesting day indeed
We already are the laughing stock. all you have to do is read the previous 200 pages to see that. We are on here bitching about no communication and the Merrill guys across the street are out spending their retention. Won't be long till the MS and SB guys are spending theirs and we will be on page 350 still wonder what the name of the freak'n firm will be. We are all sheep to the slaughter.mbond…wont argue that…clipping advisory accounts is huge and noone talking here about this…and scotsman…we will be the laughing stock of the industry…march 20th an interesting day indeed
g26…read fine print of advisory handbook…u mean u didnt here the conference call HA!..Gallatin Offitt 28 bps,caaps laffer 25 bps…allocation advisors exc ibbottson 25 bps and ibstn 10 bps…new $ get whacked starting thursday…existing accounts get whacked starting 1-1 of next yr…dude up in WI with a 100 mill in caaps must be smoked right now…prolly loooking at a 250k cut to his gross.
Oh
And for the guy who came up with the stupid idea to flood JH office with calls They only thing they understand is if we speak with our feet and walk. Anything else at this point is pathetic.[quote=scotsman]Oh
And for the guy who came up with the stupid idea to flood JH office with calls They only thing they understand is if we speak with our feet and walk. Anything else at this point is pathetic.[/quote] You are right Scotsman, they are daring all of us to walk. Listen to the BS about recruiting, recruiting, recruiting...they honestly beleive that they can replace us faster than we leave...and of course, with bigger producers...of course.last month brot in 75mill and lost 45 mill in production of course they prolly pd 75 mill for the net 30mill they have left…thats getting expensive
Hey tdude what the fu-- kinda language are you speaking? Could you rewrite that in english. What about PFA and Russell and Select advisor, cuts to those?
[quote=Ferris Bueller] [quote=scotsman] [quote=tdude]mbond…wont argue that…clipping advisory accounts is huge and noone talking here about this…and scotsman…we will be the laughing stock of the industry…march 20th an interesting day indeed[/quote]
We already are the laughing stock. all you have to do is read the previous 200 pages to see that.
We are on here bitching about no communication and the Merrill guys across the street are out spending their retention. Won't be long till the MS and SB guys are spending theirs and we will be on page 350 still wonder what the name of the freak'n firm will be.
We are all sheep to the slaughter.[/quote]
Merrill may have their money, but their firm is totally and completely f*cked.[/quote] And our firm isn't at least they have a check to make them feel better. In case you missed it the government had to match us up with two different banks so we could open the doors the next day
no cuts to pathway, pfa or select advisor…haircut to the rest though…I just loved the big announcement they made on it too