Forefront
846 RepliesJump to last post
Apparently, about 800 e-mails have been sent BUT…The lies by Sr. Management continue. Our manager was basically told that _% of your branches plan were ‘flagged’ for various reasons (they have 3 that I have seen) . He was told that each flagged plan will have to be ‘approved’ by BOM, then major mkt, then RP, then Envision AGAIN! They still may not be approved by Envision all said and done. If so, the ‘flagged’ plans will have to roll into the next snapsot but they don’t want you to alter the plans now…??? If they ‘roll over’ to the next snap shot, you will not get paid till Dec.
WTF. I just don't get it! This is a Joke! This Co. is a Joke! If this is the case, the exodus will be incredible. UNBELIEVABLE! I am so mad, I will start the 'moving talks' again.ISG Norfolk got their e-mail Friday & Richmond got theirs on Tuesday. So, e-mails are still going out.
[quote=shredder]Apparently, about 800 e-mails have been sent BUT…The lies by Sr. Management continue. Our manager was basically told that _% of your branches plan were ‘flagged’ for various reasons (they have 3 that I have seen) . He was told that each flagged plan will have to be ‘approved’ by BOM, then major mkt, then RP, then Envision AGAIN! They still may not be approved by Envision all said and done. If so, the ‘flagged’ plans will have to roll into the next snapsot but they don’t want you to alter the plans now…??? If they ‘roll over’ to the next snap shot, you will not get paid till Dec.
WTF. I just don't get it! This is a Joke! This Co. is a Joke! If this is the case, the exodus will be incredible. UNBELIEVABLE! I am so mad, I will start the 'moving talks' again.[/quote]Isnt it possible you wont get paid till next Sept.? Suppose you have 60 plans. 5 are flagged. You get credit now for 55. Wouldnt you have to get over the next level of 100 plans to get paid end of Dec? I was told that if you have over 50 done and less than 100, you wont be paid on then new plans and qualified HHs until the very end, unless you get to the next level which would be over 100 plans done. Then you will get paid on the next snapshot. Am I wrong in this?
[quote=shredder]Apparently, about 800 e-mails have been sent BUT…The lies by Sr. Management continue. Our manager was basically told that _% of your branches plan were ‘flagged’ for various reasons (they have 3 that I have seen) . He was told that each flagged plan will have to be ‘approved’ by BOM, then major mkt, then RP, then Envision AGAIN! They still may not be approved by Envision all said and done. If so, the ‘flagged’ plans will have to roll into the next snapsot but they don’t want you to alter the plans now…??? If they ‘roll over’ to the next snap shot, you will not get paid till Dec.
WTF. I just don't get it! This is a Joke! This Co. is a Joke! If this is the case, the exodus will be incredible. UNBELIEVABLE! I am so mad, I will start the 'moving talks' again.[/quote] NO on the exodus, it will not matter if/when anyone sees one nickel. People did not leave after the "days not weeks" retention in January, those who stuck around after that will stick around here regardless of how long this is strung out. This could go on for a long time, people will just keep hitting the refresh and hope something pops up.Anychance WF could be opening themselves up to huge legal/arbitration issues if we dont get paid ? Im ISG in NJ and have not received an e-mail nor has anyone in my group.
Newby here, but have followed many of AGE/WS/WFC threads. I just wanted u guys to know, our branch received emails and docs. Two weeks ago, fedex them back and received nice deposit today!
Don’t hammer me over any typos or grammer, I posted from my phone…I know how important this is and what a distraction it can be to production. I have no idea why our branchwas processed quickly, but our branch mgr has been very proactive and encouraging!
Hope this helps!!!
There is no reason to to jump to conclusions to think you will not get paid. It appears ISG is slower than PCG for some reason. Hopefully we will get our docs soon. The communication or lack of has been frustrating but no need to jump the gun and think of leaving. Others have gotten paid so there is no reason to think we won’t get paid either.
FIWIW my buddy said more than half of the advisors are having plans reviewed again. Whatever that means…
[quote=ramgto00]Anychance WF could be opening themselves up to huge legal/arbitration issues if we dont get paid ? Im ISG in NJ and have not received an e-mail nor has anyone in my group.[/quote]
Agreed. The firm has sent out contracts for this program. I signed it, my manager signed it. It will be paid on, or I and every other broker out there will sue and win for a multiple of what we are owed.
I have been kicked to the review pile. All my plans are solid. But here is the catch. They didn’t include any savings. SAVINGS!!! Here is my take on what has happened. Senior management presented to Wells their plan for this program. The plan had the money paid out over the different snapshots, starting out with 200 mil as payment from the first snapshot. Since qualifiers totaled over 600 mil, they had to find a way to pare down the number of FAs that they would have to pay, or the amount paid to them. So they came up with NEW criteria. I checked all of the plans against the criteria given to us by National Sales. All were good. I even had our Productivity Consultant from our major markets crew review them before the snapshot. I was told all was good. I have been repeatedly told not to worry, all my plans were fine. Until the criteria changed. Great way to build trust in a firm that sorely needs to rebuild trust from their advisors. I have come to realize that “together we’ll go far” actually means “we’re gonna take you for a ride”
Dr Money,
If I may ask how was it communicated to you that you were in the review pile? And when you found were the specifics told to you also or are you guessing?I truly think that the money is irrelevant - sure a little extra cash doesn’t hurt, but this is about the one constant that we’re reminded of on a daily basis - communicating with our clients.
WE ARE the client here, period. We are told that we should always be talking to our clients about what's going on. The WHOLE POINT of Envision/4PLAY (that's what it really is) is about COMMUNICATING with our clients. The firm has simply dropped the ball. It's the equivalent of buying a client shares of XYZ and it gaps down 15% - who the hell wants to make that phone call - no one I suppose. We make it anyway and face the music. Even if I received a lousy email that said, hey we've got you on the list, but we're so backed up and you will be paid based upon your snapshot would be palatable at this point. Again - communication is the problemGot a call from regional manager. Faxed me a report showing the percentage of plans that did not include savings in the profile. Note at bottom said something to the effect that this may indicate a lack in the relationship with the client, or something to that effect. I left it athe office or would give you verbatim what it said. It was a program generated report. this is fact. The part about limiting the amount to be paid to match what they had forcasted is my conjecture. I was going to put most of the money in savings. If I had included that in my own envision plan, my numbers would suddenly look pretty bad right now!!!
dr money,
thanks for your reply. Did you get the forefront package email with the promissary note then were told that your on this list? Or were you waiting for the email and received the call from your regional? I only ask because there are a number of advisors out there who got the paperwork, signed it and sent back in and then got an email that their documentation is now on hod.drmoney: So none of your clients had a checking/savings account or maybe some other accounts held outside your firm… maybe an IRA account?
Personally I have clients that dont have external accounts. Or the accounts arent significant in terms of the big picture... Seems like thin ground to reject someone's work. Sounds like the lack of trust runs both ways?Also, if a client has $300 k with you - I would think that is "savings" ?? And that's the kind of relationship I would take all day long.. lol. Is it possible they don't have enough (or any) qualified people reviewing the plans - you may not have an actual person but instead a program spitting out plans based on some criteria which is then still not looked at by a real person but instead kicked back at you.... I don't see where a firm all of a sudden gets the man power to reviews thousands of advisors many plans????
I was waiting on the email with the loan docs, but got the call instead. the savings I am referring to are not savings accounts. I am talking about a client saving $3000 a year kind of thing. Or like retirement plan contributions, etc. going forward. Nat sales had told me this morning that if you do not get your award docs today or tomorrow, then you are going to find yourself in the re-review pile. Turns out they were right.
They didn’t include any savings. SAVINGS!!
**********************************************
I dont get you here. What do you mean by savings? Yes, it seems they dont want to pay now. BP seems to have been fairly accurate this time it seems. As of right now anyway.
I believe I have been kicked to the review pile as well and Im very proficient with Envision so its pretty ridiculous to now have to defend that work…yet again.
[quote=drmoney]
Got a call from regional manager. Faxed me a report showing the percentage of plans that did not include savings in the profile. Note at bottom said something to the effect that this may indicate a lack in the relationship with the client, or something to that effect. I left it athe office or would give you verbatim what it said. It was a program generated report. this is fact. The part about limiting the amount to be paid to match what they had forcasted is my conjecture. I was going to put most of the money in savings. If I had included that in my own envision plan, my numbers would suddenly look pretty bad right now!!!
[/quote]So the client isnt saving money with you? Thats the beef? What if they have 2 million with you all invested in mgd accts and you dont list savings? Thats cause to reject? Am I understanding this correctly?
Dr:
Holy technicality batman ! My buddy said that over half the plans are going to be reviewed again is that true?? I believe that most FA's are professionals wanting to help their clients. It sounds like orginally meeting the standards for the award were clear, simple, and few... and that has changed!?!?! Good luck guys. The idea of talking to clients more and presenting an allocation plan is a good thing.... hope you get paid for the good/honest work you did as promised. GO BUCKSI got a call today from National Sales saying pretty much what drmoney said.
I was told if you had too many pre retirees with 0 savings or retirees with 0 other income.
If you plans fell in either of those piles and you have not got your loan docs yet, you would not be getting them. Rather you will get some kind of notice that you need to discuss your plans with your regional president.
This is really starting to tick me off. I did them all. None were faked. You can check the new accounts I opened and assets I repositioned. That should be a much better indication than a retiree not having any other income.
If I am on that list, I will start looking to leave.