Legacy AGE thoughts
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Poboy…if you are so deliriously happy, why are you here ?
Any why give Nestegg a hard time for talking about his firm, when you wrote a fking book describing your rapture ?
And THEN finish off with a grovelling apology to the same firm that gutted yours.
Take your sorry limp-d*ck a$$ home.
[quote=nestegg]
[quote=Poboy]
Some how I manage to do over 10k a month.
Any additional goes 50:50. Your at Stifel, as somany of your post state. Good for you. Your making $500 more a month than me assuming our production is the same. I doubt that is the case.[/quote]Lets do the WS Payout math shall we....
20k = 37%
30k = 41%
40k = 43.5%
50k = 44.8%
60k = 45.7%
I wont even get into the fact that no one actually gets that payout when you factor in the 0 payouts, ticket charges, haircuts etc...figure several percentage points less at each level
Trust me I did the math...and for my bus mix the payout was WAY below AGE...let alone SF.
Every month there is likely several thosuand of production eaten away by fees and no pays.
I think I see were we are going...none is 50%...that was my point...not pointing out the fact the SF payout is higher...thouht maybe you were confused...in the old days of AGE we did get 50% then 45% on Annuities.
Danny thanks for the post, I am glad to see that some are happy at WS/WFC...hope you do well :)
[/quote]
Glad to see SF doesn't have any ticket charges......Oh wait but they do, but don't disclose them to you upfront just have them hidden in the grid.
[quote=Wheat-ie] [quote=skbroker] Poboy
How would you feel if you had a 15 million dollar account that generated 140k in fees and commission last year and the client writes a check but short a penny in the cash account so wach reject the check and charges client $20 tells client it’s wach policy. Probably wouldn’t feel too good
Once the client acats out. Keep drinking that k aid and talk to me in 6 months. [/quote]
Or why don’t you just make a business decision you cheap bastard and eat the $20 for him?
Every FA whines about the firm’s fees…every one of you can eat a few here or there; that is not unheard of. FAs are the cheapest d’bags I’ve ever met…always have been.[/quote]
ribbit
Concerning the 15 Million account that acated out.
TWO WORDs: Personal Responsiblity 1) Its your clients responsibility to make sure there is enough in his account to write a check 2) Its your responsiblity to make sure if there is a problem you catch it in time before the check gets rejected. 3) If you can't catch it in time then its your job to smooth it over with your client. Sorry Mr. Client, it was my mistake that I didn't catch it. It won't happen again. Aren't you a salesman? I am glad everyone that has left is happy with their choices. I thought it was needed to provide another Point of View from a Legacy AGE and not sound like a whinny titty baby.[quote=Hydeho] [quote=nestegg] [quote=Poboy]
Some how I manage to do over 10k a month.
Any additional goes 50:50. Your at Stifel, as somany of your post state. Good for you. Your making $500 more a month than me assuming our production is the same. I doubt that is the case.[/quote]Lets do the WS Payout math shall we....
20k = 37%
30k = 41%
40k = 43.5%
50k = 44.8%
60k = 45.7%
I wont even get into the fact that no one actually gets that payout when you factor in the 0 payouts, ticket charges, haircuts etc...figure several percentage points less at each level
Trust me I did the math...and for my bus mix the payout was WAY below AGE...let alone SF.
Every month there is likely several thosuand of production eaten away by fees and no pays.
I think I see were we are going...none is 50%...that was my point...not pointing out the fact the SF payout is higher...thouht maybe you were confused...in the old days of AGE we did get 50% then 45% on Annuities.
Danny thanks for the post, I am glad to see that some are happy at WS/WFC...hope you do well :)
[/quote]
Glad to see SF doesn't have any ticket charges......Oh wait but they do, but don't disclose them to you upfront just have them hidden in the grid.
[/quote] Discount sharing just like the old AGe...only they are not hidden you can figure it out to teh penny before doing a trade...i will give up 2 or 5 bucks on a trade that is 200 bucks vs...a flat 10-15 on almost every trade at WS...and get paid on EVERYTHIGN over 40 vs everything over 95...oh yeah and get paid on every trail regardeless of size....
poboy…great koolaid…stuff is giving u quite a buzz.Can u get me some. Lets see.
1)We have a money market that sux compared to AGE
2)We have a 401k that sux compared to AGE (note the y/e pop we had off of that joke
3)We have a stock plan that sux compared to AGE (remember WB wat a winner)
4)We have a huge haircut coming in Jan for most of advisory accounts compared to none at AGE
5) We have a br managers bonus about half of what age paid
6) We have twice the amount of work as a mgr than at AGE
7) We have another loser stock called WFC. No telling where that disaster will end
8) We have no sales bonus anymore like at age
9) We have ticket charges now that we didnt have at age
10) We dont get paid on mony market trails like AGE
11) We have a bureacracy eating off our plates called middle mgt.
12) We have a back office that has been destroyed
13) Our clients are quite happy with all the -0- statements. not
14) total annual cost to me will be 6 digits.
15) not even minimal retention from wfc…list goes on ad nauseum
One statement I agree with…since Im still here in my seat I better quit yappin or I need to move. No one to blame but me for still sittin
But to call this amagamam of puke better? Dont think so.
poboy
wow, you sure sound like a teller at a wachovia. you are just too dumb to comprehend the moral of the story. one day it will all make sense.let me guess and tell me if i m close. 3 year and 3 months in production and doing about $230,000 and thinking you are a f***ing star. by the way no one is moving from wach to stifel thinking that they’ll make extra 500 month. lol
[quote=Poboy]Concerning the 15 Million account that acated out.
TWO WORDs: Personal Responsiblity 1) Its your clients responsibility to make sure there is enough in his account to write a check 2) Its your responsiblity to make sure if there is a problem you catch it in time before the check gets rejected. 3) If you can't catch it in time then its your job to smooth it over with your client. Sorry Mr. Client, it was my mistake that I didn't catch it. It won't happen again. Aren't you a salesman? I am glad everyone that has left is happy with their choices. I thought it was needed to provide another Point of View from a Legacy AGE and not sound like a whinny titty baby.[/quote]ribbit ribbit...it's feeling warm for some reason
Exactly!let me guess and tell me if i m close. 3 year and 3 months in production and doing about $230,000 and thinking you are a f***ing star. by the way no one is moving from wach to stifel thinking that they’ll make extra 500 month. lol
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Best Wishes to everyone.
Posted: 10 March 2009 at 11:08pm
here's what happened today. I had $4,045.41 in my cash account in my wachovia account and wrote a check for that amount against it and I guess there was apenny that was journaled to my other account after the check waswritten which left $4,045.40.So today I look at my b of onlinechecking account and the check i wrote was rejected by wachovia because insufficient fund by one freakin cent and wachovia charges mea $20 insufficient fee. No notification, no action item, no call indicating that...
Oh, you were the idiot that can't balance your checkbook.
I heard a long time AGE manager left today to start up a new Stifel office in the Carolinas. From my experience, AGE guys leaving WS should have little pushback from clients regarding moving. The few clients I wanted to move that didn’t moved to different firms and didn’t stick at whatever Wachovia Securities is called these days.
Rumor has it that another old AGE branch in Spring Texas will be moving to Stifel very soon. Good Luck when the TRO’s roll in.
Three new offices at SF in the last week…Charlotte NC, Vero, FL and one other Can’t remember where…we get announcements so frequently now of Wach/AGE people coming over to open new offices I have lost track lol!
[quote=Apollo 13]Rumor has it that another old AGE branch in Spring Texas will be moving to Stifel very soon. Good Luck when the TRO’s roll in.[/quote]
TRO’s for ???
You know how many offices have moved without issue…
Have you ever heard of “RAIDING”. Wachovia has to be careful about setting precedent.
tdude - He left the W/S - Wells/Fargo in Charlotte, NC and is staying in/starting up (Stifel) in Charlotte, NC. He was going to head up the one big office in Charlotte that was going to be three W/S offices combined into 1 - over 50 brokers. Quit this morning, left with his partner and their assistant and went to the new Stifel office. No one but the three of them.