Forefront
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[quote=Bud Fox]
A guy in my office today summed it up. He's not doing the plans because he's scrambling to do business and put food on the table. I'm willing to bet that there is a lot higher participation rate with premier advisors due to getting 75bps out of the gate.[/quote]
You are right about the higher participation rates for premier advisors, not only higher payout but the staff to get these plans done while continuing to do business. Did over 1mil last year. So for me 75bps day one. Easy money and I plan on sticking with the company anyway, so why not.
I also believe that your t12 is up. I have seen how well received these plans are, clients love them and will make changes to their portfolio accordingly. While mine is not up, I converted lots of dead assets to fee based (the changes to syndicate have hurt the production versus last year). It might just be they way I see it, but these plans help funnel people to fee based. And knowing WS, that IS part of the whole plan. So let the market recovery happen because my team and I have worked hard to come out of this stronger than ever.
I understand the concern that the plans make the clients sticky to the company, but I think clients have become stickier to me. The company has changed names from AGE to WS to WFCA, to my clients I have been the only constant. I think that has made them stickier to me.
No hiding under the desk. These plans made us talk to clients at a time when they wanted someone to talk to. I wanted the forefront money. I will get over half a million, but using this opportunity already has reaped so many more benefits. Some clients have already told their friends about how they came in to see me and formed more of a plan than they ever had. The friends had not heard from their brokers. I guarentee they will hear from their new broker - I have already met with them twice. Once for the plan and once for the ACAT.
Don't do them if you don't want. I really don't care. But don't hate those of us who are doing them. It is so true - the harder I work the luckier I am. And Envision is really not even that hard.
Ernie Olde
Bud Fox…I get it. You AGE guys have been through an awful lot. Us legacy WB guys had an easy advantage going into this b/c we’ve been using envision for years. Good luck to you. I hope in time this all works out.
2 days left. I dont think there is any question as to if they will pay or not. Too bad a lot of FA’s have not done them. To not pay or change the payout structure after the cutoff would be disastrous for them imo. While I think a 9 yr handcuff is sort of laughable considering the deals you could get elsewhere, my view is Im not planning on leaving anyway, so may as well make the best of it. If they suddenly start making radical detrimental changes after the cuffs are on, then we can just take a deal and leave and pay back the money. I have been successful in using the plans to gain business. It may not be the most sophisticated thing out there, but it serves a purpose if used properly. Nothing difficult about it. Just have to get used to the presentation of it, whats important and what can be skipped over and very quickly you will have it down pat.
tier 1 is a continuous process. if you don’t get at least 25 plans in by 6/30, you can get them done for the next window 9/30, then 12/31 and so on thru 6/30/2010. the payout is retro to boot.
i understand many are reluctant after all we've been thru. checks being paid without hassel in september should motivate the troops. i converted 30+ plans i already had for the 1st snapshot. i'll have a balance of 50+ by september, anticipating they don't play games. the firm loses big if they screw this up...and they know itI agree: just do it. If you leave, so what…you’ll get a far greater % and you just pay it back…an interest free loan so to speak.
Envision takes no time at all–just fill in the short questionnaire, which is 2 pages, and you’ll have the basics in place to begin the Plan of Record.
Not to mention, when i finished my plans to max my award, i had ALSO qualified already for 4front level II…which is another $50k in my deferred comp pot.
This is not a bad deal; the firm will pay. Forget the ‘conspiracy theories’.
i had ALSO qualified already for 4front level II…which is another $50k in my deferred comp pot.
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Huh?? what are you talking about?
some of you guys sound like homebuyers with no money down interest only and stated income two years ago.
You dont even know your own comp plan do you??i had ALSO qualified already for 4front level II…which is another $50k in my deferred comp pot.
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Huh?? what are you talking about?
[quote=3rd ID] i had ALSO qualified already for 4front level II…which is another $50k in my deferred comp pot.*****************************Huh?? what are you talking about?
[/quote]
Level II is another tier of 4front award, actually from the original 4front plan rolled out 2-3 years back: the awards are paid via deferred comp, though.
Just heard from friend that Wells backing out of Forefront by saying all envisions have to look custom or no payment. If you just through the numbers together they arent paying. I knew they would find a way to screw you. So glad I am gone.
Nice. I just got off the phone with ludeman and wells have decided to double the loan amount for the forefront. I love wells Fargo. By the way be patient stop wasting your time with your garbage comments
is that rumor as concrete as the wells fargo retention you have been boasting about for months?
SK. There is also a new 4Front report coming online for you which will be available in Analysis Workbook under the Advisor Tab on SmartStation. Should be available on Monday. Hopefully, it will be helpful to you.
Dont listen to me, check with your envision coordinator dumb f***. Call monday morning, you are in for a big surprise.
OK I knwo Be Patient has little credibilty here......but I know a gal who works in StL for WS (wfa). A ton of Envivions have come through done VERY half assed. It looks obvious that guys/gays are just doing them to get them done. The lawyers are shi%$#ing bricks because of complaince angle (info done on system-lawsuits down the road). DL et al know the sensitive nature of the fact FA's got screwed with out a real retention The lawyers want bag whole program or start disallowing crap enviions and the forefront dollars. (to protect them down the road legally) DL knows how much this will stir things up again. something coming soon. the girl i know BS's with a girl who works for head lawyer dude. she reads all his stuff. the lawyers have all discussed cancelling forefront all together. danny went nuts danny wants nothign done. i got no dog in the fightJust heard from friend that Wells backing out of Forefront by saying all envisions have to look custom or no payment. If you just through the numbers together they arent paying. I knew they would find a way to screw you. So glad I am gone.
Guess we know now why there was the "opportunity" to sign for extending contracts for 4 more years!!! .."Sorry guys about the forefront issues, but the good news is you are signed up through 2017!!!"Man if that is true…lol
Everything World Peace said is true except lawyers wanting to cancel forefront. Envision dept. has identified the brokers where everyones plans came back at 99 or 100, where everything looks the same. Cookie cutter for each plan. They will either make you redo it and pay you as of end of Sept or if bad enough may tell you to take a leap