[quote=Sportsfreakbob] [quote=Sellout21]

I believe you would be able to take more clients with you going indy or to a regional, rather than wire to wire.  Ultimately, clients will come with you if the relationship is very solid.  It's unfortunate, but performance, fees, and some of those little inconveniences don't matter as much as you might think to clients.  They just want someone who they like and trust.

It sounds like nestegg is entertaining some offers?  Good luck, but I would be happy to bet your signing bonus that you will not bring 80% of your book regardless of where you go in this environment.  That's like saying your going to get a full price offer on your house right now - few and far between.[/quote]
We just had a team leave or branch, a few months ago. They had a pretty big book. They had ACATS in on 80% of their book within 6-8 weeks. Went wire to wire.
I do agree that clients want someone they can like and trust and if they have both of those things, they will generally ignore all the other stuff.

I have to say, that while i am not planning a move right now, but if i ever did, i could not imagine going to another wire and being married to a new bank. Whats the point? I would rather forgo the check and take the payout, and build something i could sell later.

One concern i have tho and here;s a question for the group, specifically former wire guys that went indie, when you went indie, and told clients the name of the new B/D and where their assets would be custodied, (whom i am sure they never heard of), didnt you get any resistance, due to lack of familiarity? How did you position it? Always been curious about this.

[/quote]   That's why I am giving serious thoughts to FiNet.  It may not be the "perfect solution" but there are many positives: 1.  When we get rid of the dreaded Wachovia tag it will be WFC, much better than "I've never heard of them" Inc. 2.  Minimal client paperwork.  You do NOT need to repaper accts, no ACATs.  The client signs an acknowledgement letter, that's it. 3.  No vultures picking at your clients, you have 30 days from when you go FiNet before any of the stragler accts are divided up.  And that's only if they did not sign the acknowledgement letter. 4.  You get to keep the rention bonus.  (you do "lose" the DC") 5.  Yes, the 1st yr payout is clipped 15% to 75%, but it's only for a year. 6.  You can go "indy" with a lot less of the hassels and if 2-3 yrs down the road you decide to hire another B/D, so be it. 7.  There is no love lost between PCG and FiNet.  In fact, the FiNet guys can't figure out why more of us don't want to come over.  I have not had a single 'road block' thrown up at us yet, regional or BOM. I am thinking this is probably a great first step for those AGE/WS guys that are thinking indy. Plus, you avoid the nightmare of switching firms in a down market and I'll probably take 90% of the clients I want to keep.  Oh I forgot one of the best things: no nine layers of management to deal with....and if we actually do get a retention, we can keep that too.

Shredder,

  Question on Finet -   I am in a small branch and carry about 60% of the load.  I am not the mgr.  If the whole branch goes Finet - do you still pay the 15% override the first year? and if so, in this scenario, to whom?

[quote=maddog]Shredder,

  Question on Finet -   I am in a small branch and carry about 60% of the load.  I am not the mgr.  If the whole branch goes Finet - do you still pay the 15% override the first year? and if so, in this scenario, to whom?[/quote] The whole branch can NOT go FiNet.  PM me and I'll give you more details.

To the one who is considering FiNET.

If you go this route, make sure you "custom brand" your practice.  It's the "BRAND CALLED YOU" that is driving the show when you own your own practice.  That way, you won't have a Wachovia FiNet sign out front, or a Wells Fargo Advisors sign out front.  People are not interested in that.  They're interested in you and how you treat them.  If they trust you, they will come no matter what the clearing firm is.  Clients want to know that you are capable of coming up with customized solutions that will meet their needs.  They want to know that you're accessible and that you have their long-term interests at heart.  If they know this, you will have a regarded practice beyond your wildest dream. Remember, you will also have something to sell down the road.  That's what I call "equity."  DC doesn't compare with the satisfaction you have by building something, then creating an eventual exit strategy.  DC goes down and evaporates at times...we just saw that all over the place this past Fall.  However, if your practice goes down, it's only you that's to blame. No more pie in the sky.  Create your own course.   I'm with FiNet and I've approved this message.    

Hey Hank,

  Holy shit! is that all you do, just look for the single instances of profanity, copy them into red and then ask people if "You kiss your mom with that filthy mouth"?   People curse. I don't curse to my clients or around my kids, but out with friends, or watching sports, or maybe on a goofy internet message board.   And yes, I do plenty of kissing with this dirty mouth of mine. My wife likes it just fine.

[quote=skillopie]Hey Hank,

  Holy shit! is that all you do, just look for the single instances of profanity, copy them into red and then ask people if "You kiss your mom with that filthy mouth"?   People curse. I don't curse to my clients or around my kids, but out with friends, or watching sports, or maybe on a goofy internet message board.   And yes, I do plenty of kissing with this dirty mouth of mine. My wife likes it just fine. [/quote]

Relax. I know all about your wife's activities with her mouth and your kids are the best french kissers in the county.