Forefront
846 RepliesJump to last post
Just got my email with all my loan docs 20 mins ago. All is in order. Its a pleasure to see that they are following through with what they had promised.
[quote=Longshot]Just got my email with all my loan docs 20 mins ago. All is in order. Its a pleasure to see that they are following through with what they had promised. [/quote]
Can you say what region you are in?
Got mine tonite too. All in good order. All good plans, including what my clients are saving that are pre-retired.
How that’s not something you blatantly excluded is beyond me. I’m not siding with the firm here but, if you were doing a so-called ‘legit’ financial plan (regardless of how bogus the program is), that absolutely is important.
This firm is run by A@@sholes. Hey DL call the clients and ask them about the plans yourself DL how about a conference call and actually take some questions from advisors instead of having your hinchman throw you easy questions like any advisor is really sending in email questions about the freaking contact managment software. thats is BS the only question we have is WHERE IS OUR MONEY Excuse my lashing out but this is just getting stupidI 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.
[quote=drmoney]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”[/quote]
100% true. Something fishy is going on with the rules being changed mid way through the process. Yet again, no communication from upper management about it. People are getting jerked around.
[quote=showmethemoney]
[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?
[/quote]
Envision this: Client has $2 million with you, but still works and puts $16,500 in his work 401k. You didn’t factor that into his Envision plan (because you didn’t have to up until, oh, yesterday) and now the firm is questioning your participation in this program because they think you have a half-assed relationship with the client, not worthy of a 4front bonus.
I knew law school would do me some good:
An ex post facto law (from the Latin for “after the fact”) or retroactive law, is a law
that retroactively changes the legal consequences of acts committed or
the legal status of facts and relationships that existed prior to the
enactment of the law.
Does this sound familiar?
I have been very silent and refuse to throw in any “I told you so”. If I still worked for this company I would call my regional and ask point blank WTF. Looking back I have definately been an assh*le at times in my responses but I will say reading these posts sickens me in the way you are being treated. This is very similiar to the forum “where is retention” back in Dec/Jan. I am hoping for you a much better outcome. Some of you BIG producers need to throw your weight around a bit and make a stink
Plans included outside retirement balances, just not an annual savings component. These folks were either about to retire or are business owners. Did not include savings as a buffer or extra safety margin. Besides, there was nothing in any documentation that said it was necessary. I spoke with another advisor last night who got tagged because he did not include social security income. The program asks if you want to include it or not be dependent on ss!! He said as a rule he does not include ss data due to ss being broke. The issue here is changing the requirements at the eleventh hour and breaking trust. Anyone notice how the pay process has gone from 3 business days to five and now several? I have read of only one poster getting Paid and it took two weeks. If you got paid please post how long it took from when you submitted your loan docs.
DITTO!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”
I got the call today that I have to review my plans again. For anyone that has already went through this second review I would appreciate any insight the questions being asked. Love this company more and more!
You may be shocked and amazed when you aren't told the account numbers of the plans in question.. ??I got the call today that I have to review my plans again. For anyone that has already went through this second review I would appreciate any insight the questions being asked. Love this company more and more!
Aren’t any of you boys scared to sign a 9 year contract with a company that is playing these frikkin games? From retention in a week, to sorry no retention, to forefront money for more work, to sorry we need even more work for that forefront money because WE feel you did it sloppily and missed a few details that OUR envision program allowed to occur. Yada, Yada, Yada… It will never end as long as DL is at the wheel. I strongly believe this is all Wachovia idiots doing this and not the Wells people. I have heard they don’t play these kinda games with their employees.
This week sure felt like a week I had this Winter, as in February. No retention then; no retention now. Back then, late in the game I started hearing some words of caution from my key contacts. There were rumors of retention being called off at the 11th hour. These same contacts ASSURED ME, all was good this time around. As late as Tuesday morning I was assured all was good. I had nothing to fear. My plan were far from perfect, but I had only one flagged in the POR back in July. The company decided in the 13th hour to add a few more criteria for plans to be "good". I got snagged by the fact I had not indicated "annual savings" in retirement plans. HMMM....So now, if I quickly fill in a number, bogus or not, my plans will be deemed "good". Bogus. Bullsh*t.
I have three friends that are managers. All three think the firm has committed a critical mistake. I have a buddy who is pretty high up in the pecking order in the firm and he thinks its utter bullsh*t. My market manager thinks they jerked us around. Its hard for anyone to have any credibility if they say this is not a huge crock of crap. I can't see this not causing a huge exodus from the firm. Everything that is wrong with big corporations is wrong with this crappy company. In my immediate market I know that there are 90 brokers in 3 offices. I believe 5 brokers were cleared and will receive checks. I know for a fact that 3 of them have used Envision as a tool since day one. My wife must think I am an idiot for passing up a million signing bonus late last year and a $800,000 offer in the Winter. I told her that I'd be selling my soul to the devil by taking the money and that the transition would be difficult (I've done it before). What I did not realize is that I have been in Hell since the Wachovia/AG Edwards merger. No, I didn't come from AGE, I actually came from Pru. The firm was slowly getting its act together before the AGE merger. Since then, its been a farce. I hope Danny Ludeman sleeps well, that would make one of us.so by getting there act together you mean that buying GWF was a good thing.
you're right though....this has been a total farce. we're told to communicate to OUR clients everyday and WE are the client in this situation. the Infoslacks info on 4skin is such a half a-- way of saying that you're not getting paid. I'm wondering if DL just thinks that if enough time passes by that we'll forget about it20 Year Vet
Did you receive your forefront documentation first and then find out you got snagged or never received it at all? Also did they tell you if you corrected the savings bs that you would be paid immediately or have to wait to the sept 30th snapshot and wait months to get paid?[quote=20yrVet]
I got snagged by the fact I had not indicated "annual savings" in retirement plans. HMMM....So now, if I quickly fill in a number, bogus or not, my plans will be deemed "good".
[/quote] Modified plans won't be counted until the next snapshot...I dont think modification is required. I think you need to provide reasoning behind it. There are valid reasons for not entering this data.
I passed the pre-review with one flagged account, which should not have been flagged. I never received any documentation just phone calls and e-mails stating that I had nothing to worry about. My e-mail was on its way.