Forefront
846 RepliesJump to last post
I wonder if the new fees could be used to repay the tarp. Or maybe Danny’s bonus based on how many brokers get handcuffed for 9 more years. Has this company really done anything good for the broker yet? No… Then why do so many think that this forefront is Gods gift to the struggling broker whose t-12 has suffered greatly. Don’t get me wrong, it seems very easy to get that 6 figure forefront check deposited to my account. Way too easy is the problem. Everything tells me the struggles will develop after the fact. If I am wrong, I can leave and get a 6 figure check up-front elsewhere very easily. If I am right, I saved myself from getting screwed hard by WFC. The 200% deals elsewhere will always be around. And this forefront deal is only a 50% deal to not move your book. OK for the broker who is not confident he can move his clients. But for the broker with very good relations with his clients (top 50%), he is shorting himself by staying at WFC for the next 9 years. Just my nickels worth.
I guess that is why I am not participating in forefront and I haven’t jumped ship yet. I don’t need the money and I am wondering if there really is a firm out there that does practice the golden rule with the brokers from the top-down like AGE did before Bagby gave us a vasectomy.
Stifel seems to be the closest, but I am concerned about 2 things with them. 1. Can they handle all of their current growth 2. Will they be bought by a less desireable firm in the next few years And I don't have a Stifel office in my area anyway. I may take the cash from Forefront and go to FiNet[/quote][quote=Bud Fox]I guess that is why I am not participating in forefront and I haven’t jumped ship yet. I don’t need the money and I am wondering if there really is a firm out there that does practice the golden rule with the brokers from the top-down like AGE did before Bagby gave us a vasectomy.
I agree w/ concerns about SF, but they seem to be the best option out there. Here are my thoughts:
1. Can they handle all of their current growth:
-they have handled the growth so far. In the prior acquisitions, things have gone very smoothly according to those I have talked to. When we asked the CEO, he pointed to a large stack of resume's of back office people from AGE/Wach/Fargo and Jones that are begging to come work there. In fact, over 20% of their back office is old Edwards people. RK says "if I need someone, I ask around who at AGE was good at that and I call them and they come". I'm sure there will be problems, and an assistant I talked to did say that service has dropped off in the last few months, but it can't be worse than where we are at now.
2. Will they be bought by a less desireable firm in the next few years:
-valid concern also, especially after going through the last few years. However, you can't make a decision based on that fear. Ron K. (CEO) stated in a Reg Rep interview a few years ago that they didn't want to sell out and that they would outlive Merrill Lynch. So far, he is right. Who could they be sold to that is worse than WFC? With so many of thier FA's running to them voluntarily from terrible places, they realize that to sell out would be suicide. You can only make a decision based on today's facts. And the fact is, everyone that I have talked to who moved there in the last 2 years all say the exact same thing "it is nice to be home again". Not a single voice of disention. Not a single "it is ok". Every one was fanatically positive.
Regarding not having a SF office in your area, they may work with you. Get enough people to put together a few million in production (not as hard as you may think w/ what is going on in our industry), and they will open an office for you. You will have to wait until after November when they finish digesting all of the UBS branches, but they are open. Our branch will open in November/ December depending on the builder. Opened just for us.
Curious to know for those who have received their payments what the dollar amount? Wondering if wfa is rejecting larger payment and approving the smaller payments for June snapshot
[quote=Bud Fox]I wonder if the new fees could be used to repay the tarp. Or maybe Danny’s bonus based on how many brokers get handcuffed for 9 more years. Has this company really done anything good for the broker yet? No… Then why do so many think that this forefront is Gods gift to the struggling broker whose t-12 has suffered greatly. Don’t get me wrong, it seems very easy to get that 6 figure forefront check deposited to my account. Way too easy is the problem. Everything tells me the struggles will develop after the fact. If I am wrong, I can leave and get a 6 figure check up-front elsewhere very easily. If I am right, I saved myself from getting screwed hard by WFC. The 200% deals elsewhere will always be around. And this forefront deal is only a 50% deal to not move your book. OK for the broker who is not confident he can move his clients. But for the broker with very good relations with his clients (top 50%), he is shorting himself by staying at WFC for the next 9 years. Just my nickels worth.[/quote]
Bud,
Contracts mean nothing. Protocol is still Protocol. You are locked in for 9 years insofar as you have an outstanding obligation to the firm. Do some plans, get some dough, buy some munis and bide your time. Leave when you want and pay it back.
It’s common knowledge that the deals to leave are better than the max deal for 4front. But 4front (assuming you don’t get bent over by management) is free money for staying. If your intention is to stay, or even to stay for a while, it’s A-OK.
I wouldn’t take the mega deal to leave and jump to another crappy firm. As much as I have cracked on Danny and the WFC bozos, in my opinion this is the best Wirehouse for my business model (80% wrap) and has the best grid for my business. Add in a good platform and the most I would do from here is Indy someday.
Stifel seems to be the closest, but I am concerned about 2 things with them.[quote=Bud Fox]I guess that is why I am not participating in forefront and I haven’t jumped ship yet. I don’t need the money and I am wondering if there really is a firm out there that does practice the golden rule with the brokers from the top-down like AGE did before Bagby gave us a vasectomy.
1. Can they handle all of their current growth
2. Will they be bought by a less desireable firm in the next few years
And I don’t have a Stifel office in my area anyway.
I may take the cash from Forefront and go to FiNet[/quote]
I may take the cash and go to Finet is the closest thing to the closest thing to AGE
There is no …and will never be another A.G.Edwards & Sons. Wells gives us a resonable name again and we don’t have to be so embarrased when we say whom we work with. The culture is sill foriegn.
Stifel seems to be the closest, but I am concerned about 2 things with them. 1. Can they handle all of their current growth 2. Will they be bought by a less desireable firm in the next few years And I don't have a Stifel office in my area anyway. I may take the cash from Forefront and go to FiNet[/quote] Morgan Keegan is very similar to the old AGE but they too are not in every town.[quote=Bud Fox]I guess that is why I am not participating in forefront and I haven’t jumped ship yet. I don’t need the money and I am wondering if there really is a firm out there that does practice the golden rule with the brokers from the top-down like AGE did before Bagby gave us a vasectomy.
[quote=CommonSense]
AGEMAN:Stifel seems to be the closest, but I am concerned about 2 things with them. 1. Can they handle all of their current growth 2. Will they be bought by a less desireable firm in the next few years And I don't have a Stifel office in my area anyway. I may take the cash from Forefront and go to FiNet[/quote][quote=Bud Fox]I guess that is why I am not participating in forefront and I haven’t jumped ship yet. I don’t need the money and I am wondering if there really is a firm out there that does practice the golden rule with the brokers from the top-down like AGE did before Bagby gave us a vasectomy.
I agree w/ concerns about SF, but they seem to be the best option out there. Here are my thoughts:
1. Can they handle all of their current growth:
-they have handled the growth so far. In the prior acquisitions, things have gone very smoothly according to those I have talked to. When we asked the CEO, he pointed to a large stack of resume's of back office people from AGE/Wach/Fargo and Jones that are begging to come work there. In fact, over 20% of their back office is old Edwards people. RK says "if I need someone, I ask around who at AGE was good at that and I call them and they come". I'm sure there will be problems, and an assistant I talked to did say that service has dropped off in the last few months, but it can't be worse than where we are at now.
2. Will they be bought by a less desireable firm in the next few years:
-valid concern also, especially after going through the last few years. However, you can't make a decision based on that fear. Ron K. (CEO) stated in a Reg Rep interview a few years ago that they didn't want to sell out and that they would outlive Merrill Lynch. So far, he is right. Who could they be sold to that is worse than WFC? With so many of thier FA's running to them voluntarily from terrible places, they realize that to sell out would be suicide. You can only make a decision based on today's facts. And the fact is, everyone that I have talked to who moved there in the last 2 years all say the exact same thing "it is nice to be home again". Not a single voice of disention. Not a single "it is ok". Every one was fanatically positive.
Regarding not having a SF office in your area, they may work with you. Get enough people to put together a few million in production (not as hard as you may think w/ what is going on in our industry), and they will open an office for you. You will have to wait until after November when they finish digesting all of the UBS branches, but they are open. Our branch will open in November/ December depending on the builder. Opened just for us.
[/quote]
Service level has remained the same...great since I moved in Jan. They have brought in alot of new brokers and two phases of UBS offices, if they didnt send out emails annoucing it I would have never known...no blips no issues noticable at the branch level.
As far as a sale, I dont see that happening anytime soon, but of course anything is possible as we learned at AGE. The one positive we have at SF we didn't have at AGE is the fact that employees own a large % of voting shares
Got paid today!
hey, where’s that BE PATIENT d***head. that fag didn’t know his asshole from his pie hole did he? i don’t think one thing came out of his fat little head that wasn’t a complete load of crap. suck it BE PATIENT!!!
oh, and i’ve always wondered…do you still live at home with mum n’ pop??
[quote=Ferris Bueller] [quote=Mr. Sunshine] Got paid today!
hey, where’s that BE PATIENT d***head. that fag didn’t know his asshole from his pie hole did he? i don’t think one thing came out of his fat little head that wasn’t a complete load of crap. suck it BE PATIENT!!!
oh, and i’ve always wondered…do you still live at home with mum n’ pop??[/quote]
I think he’s in the fetal position sucking on his thumb.[/quote]
BE PATIENT was such a homo
[quote=meletio] I have never in my life met a more pathetic bunch of losers than everyone on this board that sits here day after day wondering when they are going to get paid on forefront. you should all take this a a warning of what type of firm you now work for. welcome to wells fargo advisors.
[/quote]
It is an evolution of the AGE reps that went to Wachovia and didn’t leave then, what did you expect?
Home office received my docs on 9/15. Direct deposit was in my account yesterday morning. It is my understanding that as they complete the additional review process they are sending out the emails with docs later this week.
[quote=meletio] I have never in my life met a more pathetic bunch of losers than everyone on this board that sits here day after day wondering when they are going to get paid on forefront. you should all take this a a warning of what type of firm you now work for. welcome to wells fargo advisors.
[/quote]
you haven’t met me, but if you did, i punch your f***in lights out. you are obviously on this board day after day, so i guess it surely takes a loser (yes, that’s you) to know one. btw, what’s meletio? is that like KY jelly?
[quote=meletio]Do you want to meet at the flagpole at noon ? what are you 5 years old
My point simply is it seems like some on here when they see something they disagree with and they lack the mental capacity to argue their point, they simply resort to acting like a 12 year old and resort to name calling. Argue your point in an adult fashion that is worthy of the profession that you are in. [/quote]
uhhh, sorry bro(s), but this is a ‘chat room’…reality check!!! i take this about as seriously as talking to a freshly made dump in the toilet. i’m on this board for entertainment purposes only…to blow off steam, so go finger yourselves