I’m switching to BAC from EDJ.

I like the business model as described by a friend who moved there two years ago. I believe the decision on which firm is best is very much an individual decision based on the strengths, weaknesses, circumstances, and goals of the person. Others fit better as an independent, or at a wirehouse, or at a regional, or at a local bank, etc. There is no right answer or perfect place, and each of these different categories can vary with the individual location and manager. I believe BAI lines up nicely for me, everything considered.

good luck. you’ll need it

I have a friend that left Jones and went to US Bank and he is grossing like $350K + from segment 3 numbers. So, sometimes the banks are good for you and your family's well-being. However, I am not sure how US B and BAC compare but I would assume, key word, that they are similiar.

Yes, I do. That is why I made a poor attempt at a disclaimer. All I know is that he was doing $15K gross/mo at Jones and has doubled that if not more. I would be all over that if I had the opportunity. Basically, he makes just as much as most “successful FA’s” and does zero prospecting. However, I do know another cliche…“the grass is always greeener.”

stockguy and bambi,

Hey I have been at BAI now for 2 months, and I feel it was a good decision for me.  I can’t speak for everyone else but for me it has been the right move.

As a recent BAI defector, back to the wire-house, I would say buyer beware of the BAI hype. The new plan has no incentive for the consumer bank to refer to BAI. You might get the referral if a prospect walks in, knowing the bank handles investments, and wants to talk to an investment person. Premier is starting to understand that the sale is far easier if they refer to BAI Discount (free investment services, etc. if they carry a $25m balance in deposit accounts). The successful CM’s (bankers) I knew were very loyal to discount, not their FA’s. No long term incentive in comparison to the others and a cash payout which is 25% less than the street is something to be aware of as well. The bank is very quarterly earnings focused and have begun pushing production into higher yielding (fixed annuities) products to drive quick numbers. It is the issue with the bank - they are so transactionally oriented especially now - be it a CD, whatever. If you have any ability at all to network your town, then stay out of the bank. It is the most un-FA place to work on the street (although they are technically not on the street since they have 1,700 FA’s and clear through Fidelity. The good news is though they are starting to realize there is a problem since thy have lost so many top producers.

Completely stupid, actually.

But then authoring over 4700 replies to people you’ve never met and who generally don’t like you for zero payout and no specific purpose has some question as well.