Do you really think so, WIMC?.  I think they’re more concerned with the revenue the assets generate than the assets themselves.

It would be way too revealing to word a deal in terms AUM, this would be obvious for all to see that they are buying the rights to our books. By basing it on gross production, they can keep the Leagalese at a level that this won’t be so apparent.

It's brilliant I'm telling you!

What firm is going to give you a top payout for you to join them when they know that the brokers staying behind are getting a 90% payout on all commissions on these retained assets and a slice of asset bonus pie a'la mode!

Some branch manager at Barney hires 5 AGE guys with $150MM in AUM at AGE and $300,000 each in prodo he pays $1.5 MM and the 2/3s of assets stay at AGE/WB  now Barney branch has 5 guys doing sub $200,000 he's soon to be the former BOM!

I'm going to put this idea into the suggestion box for the next takeover!

I wish you guys luck, I really do.

Whoa! What an idea!

FreedomLvr,

That's the beauty, they are only interested in the assets, the rest (fees, commish, etc) will follow.

The point is that they scare the living crap out of any broker looking to jump ship and they shoot a warning shot across the bow of any ship that might want to hire guys leaving. It's a pushyou/pullme (as opposed to a pushme/pullyou). It's lose lose for the leaving broker and the firm that hires him.

ESPECIALLY if someone was looking to go Indy. (Guy's it's VERY easy to scare clients into a Wait and See mode when the broker is going Indy, it is the toughest sale to convince your clients to set sail on the good ship indy, during turbulent times).

Again, I don't think they're going to do this. But they and every firm SHOULD.  

Broker010,

Asset sales are done all of the time. When MER bought Blackrock, did they really care about the clients that were coming with? No! they bought the assets.

When you go to another firm, they will want to know your asset base and your production they will base your offer on the lower of the two. if you're doing 800,000 on 25MM your offer is going to be substantially lower than he deal they offer a guy with 100MM and 800M. Sim, if you have 400MM and do 400M your offer is based on the 400M, not the 400MM.

Point being, they are all asset based and there is nobody that cares. Certainly nobody that can actually do anything about it anyway. 

[quote=Whomitmayconcer]

Broker010,

Asset sales are done all of the time. When MER bought Blackrock, did they really care about the clients that were coming with? No! they bought the assets.

When you go to another firm, they will want to know your asset base and your production they will base your offer on the lower of the two. if you're doing 800,000 on 25MM your offer is going to be substantially lower than he deal they offer a guy with 100MM and 800M. Sim, if you have 400MM and do 400M your offer is based on the 400M, not the 400MM.

Point being, they are all asset based and there is nobody that cares. Certainly nobody that can actually do anything about it anyway. 

[/quote]

Nice fantasy but won't happen in our life time. The Blackrock deal you mention is for pure asset managers, which AGE FC's are not.  Enough with the conjecture and speculation...we'll find out soon enuf and judging by the rumor mill and #'s being thrown around, no one will be happy.  FYI - regionals are back from St Lo yesterday. Read into it what you will.

Ahhhh… Let Whomit fantasize about various scenarios… This merger is the most exciting thing to happen in his life since SB swapped with Legg last year…

[quote=aldo63]the answer is coming thursday.[/quote]

I heard it was Thursday as well in a training VX today from the top person in the training dept. Not to include those in training. Seemed like public knowledge the way they said it.

"The Blackrock deal you mention is for pure asset managers, "

Fair enough. Bad example.

Once again, a thread fizzles into nothingness. I hate being one of the Seekers, rather that on of the (as I now know are mythical, Knowers.) My apologies to all who were looking for that bit of hidden knowledge from me. Shame on all those who have claimed to have it. My boredom and frustration may cause me to start posting intentionally fictitious information just to amuse myself. Be warned.

[quote=Whomitmayconcer]

I hate to say this but you know what would be a brilliant move for WB and would be great and suck for you guys?

If WB put out a retention package based on assets retained instead of past production. Baseline you at your current AUM and then bonus the crap outta you for any growth. Big producers would take it (plus they can get a second dip into the trough) but little producers can become big producers and get a bigger bonus than the corner office crowd.

They could RICHLY reward increased assets per fa. And then if you left you would be skrued blewed and tatooed!

And if you stayed! Think of all the money you could have for having done so, and if nobody around you left, then you'd sniff out money like the truffel pig of a starving French farmer!

It's a brilliant idea! Good thing they'll never do it!

[quote=Whomitmayconcer]

I hate to say this but you know what would be a brilliant move for WB and would be great and suck for you guys?

If WB put out a retention package based on assets retained instead of past production. Baseline you at your current AUM and then bonus the crap outta you for any growth. Big producers would take it (plus they can get a second dip into the trough) but little producers can become big producers and get a bigger bonus than the corner office crowd.

They could RICHLY reward increased assets per fa. And then if you left you would be skrued blewed and tatooed!

And if you stayed! Think of all the money you could have for having done so, and if nobody around you left, then you'd sniff out money like the truffel pig of a starving French farmer!

It's a brilliant idea! Good thing they'll never do it!

It’s brilliant, if you take the human free-will variable out of the equation. Whoa to those who underestimate their opponent.

10 not condoning it but you have to admit it would be tough to be the 1st guy out the door.

In all honesty, I’m not smart enough to understand the premise.

check the "age offer" recent post. that is almost exactly what i heard.

sometimes the manager wont tell his brokers....but will tell his broker friends

Aldo, I repeat my post on the thread in question: if you believe this and you have continued to work for your BM, this deal is all good for you; you already work at a wirehouse.