RayJay and Stifel
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[quote=nestegg] [quote=FVDA_Trade-PMR]I’ve often heard that Sterne, Agee & Leach has a similar culture and background to Stifel Nicolaus and that they also have a Wirehouse Employee Division. Perhaps worth exploring in greater detail. I believe their website is: www.sterneagee.com
[/quote]WHO?????????????
[/quote] We talked with Sterne Agee (based out of Birmingham) when we were looking at everything. They started out long time ago as a boutique bond shop, and have grown in the central SE region. Seemed like good guys, but no real presence in our immediate Gulf Coast region, zero name recognition, no real transition team. Not much in the form of transition $ if I remember correctly, as well. Nice bunch of guys, but RJ had the whole transition team thing down to a science.
[quote=2wheeledbeemer][quote=nestegg] [quote=FVDA_Trade-PMR]I’ve often heard that Sterne, Agee & Leach has a similar culture and background to Stifel Nicolaus and that they also have a Wirehouse Employee Division. Perhaps worth exploring in greater detail. I believe their website is: www.sterneagee.com
[/quote]WHO?????????????
[/quote] Nice bunch of guys, but RJ had the whole transition team thing down to a science.[/quote]
In case there are any lurkers out there...I disagree with the above comment when it comes to my transition from EJ to RJ. We were very successful, but at the time (2.5 years ago or so) RJ transition was not the reason why. It essentially consisted of us mailing all of our paperwork into them and having it sit on someone's desk for 2 days while we called to find out why ACAT's weren't coming over. They just didn't have the same urgency we did in the field. If I had it to do over again I would have learned better how to process ACATs and new acounts myself (in the office I mean) and had the staff do it.
[quote=LuvIndy] [quote=2wheeledbeemer][quote=nestegg] [quote=FVDA_Trade-PMR]I’ve often heard that Sterne, Agee & Leach has a similar culture and background to Stifel Nicolaus and that they also have a Wirehouse Employee Division. Perhaps worth exploring in greater detail. I believe their website is: www.sterneagee.com
[/quote]WHO?????????????
[/quote] Nice bunch of guys, but RJ had the whole transition team thing down to a science.[/quote]
In case there are any lurkers out there...I disagree with the above comment when it comes to my transition from EJ to RJ. We were very successful, but at the time (2.5 years ago or so) RJ transition was not the reason why. It essentially consisted of us mailing all of our paperwork into them and having it sit on someone's desk for 2 days while we called to find out why ACAT's weren't coming over. They just didn't have the same urgency we did in the field. If I had it to do over again I would have learned better how to process ACATs and new acounts myself (in the office I mean) and had the staff do it.
[/quote] I've heard similar on the pure indy side of RJ. On the branch RJA side, we had a team of 3 people from St. Pete for the first critical 2 weeks. It was a SWAT team approach, and that left us all free to be dealing strictly with clients. They handled all the paperwork from the branch, and they were interfacing with their colleagues whom they knew and worked with already on the other end of the phones at corp in St. Pete. It was as close to perfect as we could imagine, never having gone through a transition before.
[quote=stampede]I’ve been at Stifel for over 5 years. Came from another regional that was attempting to emulate a wirehouse (read lots of stupidity). Had had two other offers when I came including one with twice the upfront and twice the backend (ML) but I knew I couldn’t stand the culture. I wanted a place to finish my carreer (I’m over 50 now) and the people and culture mattered as much as the up front. I have not been disappointed and the reality has exceeded the expectations that were given me. No lies, no spin, no bullshit…ever.
Payout is great, 25% of the first 8k and 50% of the balance. Resets every month (you can't dig into a hole that you can't climb out of). Bonus and deferred for anyone at 250k plus. Technology started out good and has constantly improved. Research started out OK and is now outstanding. Our analysts are writing some of the best stuff I have ever layed eyes on. Fee based platforms are outstanding and you are given loads of pricing flexibility. The guy that runs consulting services is A+ and has never declined a request I have made for special consideration (of course as you can tell I am infinately reasonable) Insurance/annuity dept is also excellant and the available products more extensive than anyone could need. Never any haircuts on any product, everything goes to grid. Fixed income trading is also excellant. The Taxable guy (steve boff) is another A+. We also picked up an excellant options dept and strategest with the Ryan Beck aquisition. The deals offered now are the best I've seen during my time here, although if you're simply looking to get rich quick and be brain dead, go visit the swiss knuckleheads that can't understand why they can't make money on their US brokerage operations. If you want to be happy and work in a real business and run your book like a business, check us out. Oh, and I forgot, I got as much SF in deferred comp as I could at $8.73/share. When I vested it paid out at about $30 and you know what its worth now. So the end of the story, my deal ended up being worth way more than the ML deal. [/quote] Damn! Its nice to hear about someone LIKING where they work! Congrats on a great situation!Hello
I saw your post about Stifel. It seems that you like the company a lot. I do a lot of Fee based business with my current WH. Do you know if there is any incentive bonus to do this business over transaction trading? I get a couple of extra points on my grid for all fee revenue now. Thanks for the help. MayberryUnfortunately, there is no incentive to do fee based business. All production is based on the “hurdle”…25% payout on monthly production up to $8k and 50% payout on monthly production over $8k. That works out to
[quote=2wheeledbeemer][quote=LuvIndy] [quote=2wheeledbeemer][quote=nestegg] [quote=FVDA_Trade-PMR]I’ve often heard that Sterne, Agee & Leach has a similar culture and background to Stifel Nicolaus and that they also have a Wirehouse Employee Division. Perhaps worth exploring in greater detail. I believe their website is: www.sterneagee.com
[/quote]WHO?????????????
[/quote] Nice bunch of guys, but RJ had the whole transition team thing down to a science.[/quote]
In case there are any lurkers out there...I disagree with the above comment when it comes to my transition from EJ to RJ. We were very successful, but at the time (2.5 years ago or so) RJ transition was not the reason why. It essentially consisted of us mailing all of our paperwork into them and having it sit on someone's desk for 2 days while we called to find out why ACAT's weren't coming over. They just didn't have the same urgency we did in the field. If I had it to do over again I would have learned better how to process ACATs and new acounts myself (in the office I mean) and had the staff do it.
[/quote] I've heard similar on the pure indy side of RJ. On the branch RJA side, we had a team of 3 people from St. Pete for the first critical 2 weeks. It was a SWAT team approach, and that left us all free to be dealing strictly with clients. They handled all the paperwork from the branch, and they were interfacing with their colleagues whom they knew and worked with already on the other end of the phones at corp in St. Pete. It was as close to perfect as we could imagine, never having gone through a transition before.[/quote] we transitioned about 2 years ago as well to RJFS and had the same experience - pretty flawless - transition team was great and came in 2 weeks into the affiliation for an entire week to help us out. could not have been happier. 2Wheeled - either RJ learned alot in the 6 months b/t our transitions OR you got a weak transition team.
[quote=Valhalla][quote=2wheeledbeemer][quote=LuvIndy] [quote=2wheeledbeemer][quote=nestegg] [quote=FVDA_Trade-PMR]I’ve often heard that Sterne, Agee & Leach has a similar culture and background to Stifel Nicolaus and that they also have a Wirehouse Employee Division. Perhaps worth exploring in greater detail. I believe their website is: www.sterneagee.com
[/quote]WHO?????????????
[/quote] Nice bunch of guys, but RJ had the whole transition team thing down to a science.[/quote]
In case there are any lurkers out there...I disagree with the above comment when it comes to my transition from EJ to RJ. We were very successful, but at the time (2.5 years ago or so) RJ transition was not the reason why. It essentially consisted of us mailing all of our paperwork into them and having it sit on someone's desk for 2 days while we called to find out why ACAT's weren't coming over. They just didn't have the same urgency we did in the field. If I had it to do over again I would have learned better how to process ACATs and new acounts myself (in the office I mean) and had the staff do it.
[/quote] I've heard similar on the pure indy side of RJ. On the branch RJA side, we had a team of 3 people from St. Pete for the first critical 2 weeks. It was a SWAT team approach, and that left us all free to be dealing strictly with clients. They handled all the paperwork from the branch, and they were interfacing with their colleagues whom they knew and worked with already on the other end of the phones at corp in St. Pete. It was as close to perfect as we could imagine, never having gone through a transition before.[/quote] we transitioned about 2 years ago as well to RJFS and had the same experience - pretty flawless - transition team was great and came in 2 weeks into the affiliation for an entire week to help us out. could not have been happier. 2Wheeled - either RJ learned alot in the 6 months b/t our transitions OR you got a weak transition team. [/quote] OUR transition to RJA was almost flawless, as well. I was responding to LuvIndy's comments about their's not going so well. Glad you're happy with everything, too.
It was tougher because I tend to be very anal as well. If you were scattered and just glad to have the help I think it would have been satisfactory. Still not an A, but maybe a C+ or B.