Legacy AGE thoughts
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PLEASE PM ME on this[/quote][quote=Gordon Gekko]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.
http://www2.stifel.com/site/content.aspx?id=138&branch=768
that funny because we had about 15 FA’s leave and they have taken about 90 percent of their assets.
skbroker - with such a big movement (15) - Why did you decide to stay?that funny because we had about 15 FA’s leave and they have taken about 90 percent of their assets.
I don’t think this went out so I am trying again. My client in Oregon went to his normal Wells Bank Branch. He asked about the mortgage rates advertised in the branch. The teller said " oh I see you have 450,000 with us " He said I wish. It is more like 50,000. She said , you have other relationships with the bank somewhere that total 450,000. She could see the total the guy has with me. Clients will not like this and I do not this, at all. WB/WFC guys is this true ? Can the bank see my client…my client…my…clients’ asset value. I await response.
Even though the Charlotte office has 2 fcs, I would guess they’d have 10-15 in the next year. Stifel is a machine.
that pretty much sums up everything.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.
[quote=stocksandblondes][quote=tdude]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 Does anyone have one as nice as AGE? 6% ,100% match isn't bad
3)We have a stock plan that sux compared to AGE (remember WB wat a winner) AGE stock plan started sucking when they changed it towards the end. AGE is gone.
4)We have a huge haircut coming in Jan for most of advisory accounts compared to none at AGE The haircut your referring to is it the one on the allocation advisor accounts. I dont see any more haircuts then that. I suppose the reduction of 25bps on managed dsip is not being taken in any consideration. And I'm sure your bothered by the 50bps being paid to SMA managers. 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 Yes we do and it starts at production of 200k and above
9) We have ticket charges now that we didnt have at age None if you dont discount
10) We dont get paid on mony market trails like AGE
11) We have a bureacracy eating off our plates called middle mgt. My percentage is just as high as it was at AGE
12) We have a back office that has been destroyed Definately needs some improvement.
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.
[/quote] that pretty much sums up everything.[/quote]
that pretty much sums up everything.[/quote] AND Ticket charges are chaged to NET!!!!! what a RIP OFF!!!!! What about the F-ING "PAPERLESS OFFICE" ?????????????????????????? WTF WTF WTF WTF WTF WTF I'm personally responsible for the destruction of acres of the rainforest just 're-papering' my few clients. WHERE ??????????????????????????????????? Is the magical one signature takes care of all account options?????? Is it stupidity? lies? ignorance? that we were told this utter nonsense? Only the shadow knows.[quote=tdude]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.
Thank GOD there was no retention “BONUS” they should have called it a retention curse.
Didn't Danny call it "meaningful" at one point? This endless debacle couldn't even be dreamed up. Reality is truly more screwed up than fiction. We just went to a new system from a firm that was pretty much bankrupt. What could possibly be next.So does Danny still do the cnference calls daily telling everyone how great things are?
that pretty much sums up everything.[/quote] AND Ticket charges are chaged to NET!!!!! what a RIP OFF!!!!! What about the F-ING "PAPERLESS OFFICE" ?????????????????????????? WTF WTF WTF WTF WTF WTF I'm personally responsible for the destruction of acres of the rainforest just 're-papering' my few clients. WHERE ??????????????????????????????????? Is the magical one signature takes care of all account options?????? Is it stupidity? lies? ignorance? that we were told this utter nonsense? Only the shadow knows.[/quote][quote=stocksandblondes][quote=tdude]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.
Why are you re-papering accounts? You find it easier then calling clients!
I don’t think this went out so I am trying again. My client in Oregon
went to his normal Wells Bank Branch. He asked about the mortgage rates
advertised in the branch. The teller said " oh I see you have 450,000
with us " He said I wish. It is more like 50,000. She said , you have
other relationships with the bank somewhere that total 450,000. She
could see the total the guy has with me. Clients will not like this and
I do not this, at all. WB/WFC guys is this true ? Can the bank see my
client…my client…my…clients’ asset value. I await response.
***************************************************************
Redpen
Yeah, we can see the total value of the assets held. Cant see the individual positions or look at the actual acct. Only the RBO or FA can see that, but we can see how much overall the clients have. I dont think you need to worry to much about this if your concerned another FA will try to pick it off. Be a real dumb move to try to take another FA’s clients like that. That would likely generate a little call from the Reg Pres.
Okay, I hope I can make my point. I really do not care what happens to me or you. My clients would crap his or her pants, if he or she knew that some freakin national/ universal bank knew everthing about them.I don’t think this went out so I am trying again. My client in Oregon went to his normal Wells Bank Branch. He asked about the mortgage rates advertised in the branch. The teller said " oh I see you have 450,000 with us " He said I wish. It is more like 50,000. She said , you have other relationships with the bank somewhere that total 450,000. She could see the total the guy has with me. Clients will not like this and I do not this, at all. WB/WFC guys is this true ? Can the bank see my client…my client…my…clients’ asset value. I await response.
***************************************************************
Redpen
Yeah, we can see the total value of the assets held. Cant see the individual positions or look at the actual acct. Only the RBO or FA can see that, but we can see how much overall the clients have. I dont think you need to worry to much about this if your concerned another FA will try to pick it off. Be a real dumb move to try to take another FA’s clients like that. That would likely generate a little call from the Reg Pres.
Sad day in St Louis yesterday, heard 450 people were laid off from the home office. So much for improving the service model!
So what's the expected call back time now, 6 weeks?
Sad day in St Louis yesterday, heard 450 people were laid off from the home office. So much for improving the service model!
So what's the expected call back time now, 6 weeks?[/quote] I think this is where we don't get it. We expect a call back.[quote=Redcobaltfan]
Sad day in St Louis yesterday, heard 450 people were laid off from the home office. So much for improving the service model!
[quote=Redcobaltfan]
Sad day in St Louis yesterday, heard 450 people were laid off from the home office. So much for improving the service model!
[/quote]
Actually 3/31 was the last day for those people in RICHMOND, Not St
Louis. End for Wheat & co -Wheat First Securities-Wheat First Butcher Singer-etal.Sad day for the legacy WachSec side. A lot of good people sacrificed for a bunch of $250000 producers and 6 buildings in St Louis.
Hey no one would be happier to send everyone back to Richmond than the Legacy AGE folks...remember this wasn't their doing it was Wachovia's! AGE could continue at the top in client and FC satisfaction and WS could continue to languish at the bottom like they always did.[quote=Redcobaltfan]
Sad day in St Louis yesterday, heard 450 people were laid off from the home office. So much for improving the service model!
[/quote]
Actually 3/31 was the last day for those people in RICHMOND, Not St
Louis. End for Wheat & co -Wheat First Securities-Wheat First Butcher Singer-etal.Sad day for the legacy WachSec side. A lot of good people sacrificed for a bunch of $250000 producers and 6 buildings in St Louis.
Wow, I miss the good old days when these forums were dedicated to Edward Jones bashing