Retention....please do not hijack
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Oh yeah … you have to pay in advance and cross your fingers they will agree on reimbersements.
[quote=Gaddock]Oh yeah … you have to pay in advance and cross your fingers they will agree on reimbersements.[/quote]
Yep. You’re screwed. Sorry.
[quote=Gaddock]
It’s gone on the 31st and changing to the type of program an older broker can take X out before taxes. Problem, the allowable amounts and projects make it not very practicle (sarcasm) Example no more that $4 for a promotional item. No more more than $25 expenses per client per year. Rules on “marketing” are what is allowed to be deductible per IRS tax return rules etc. etc. A thousand miles from the “reward” for hard work and good production.
[/quote]You need to be creative. Most of the brokers i know can do that before there first cup of coffee.
Perhaps, but, we shouldnt have to scheme, scam and pay in advance for a bonus that was earned. It’s more the spirit and trend taking shape that concerns me. Not only will I (we?) not get a retention deal but they’ve already piked out on 25k that was part of my package.
[quote=Danny Isadouche]
I am hearing WFC will have to go to the TARP for the retention bonus money. You think the press will have some fun with that one. I have been around long enough to know that whatever it is it will be PATHETIC. This is why I am packing my bags[/quote] You started on the 9th...Are you done packing yet? Or still putting away the toothpaste and deodorantThey also cancelled the Presidents council Ski trip, but giving a cash amount instead.
[quote=JamesF]I was supposed to go to Cancun. I guess $4500 is better than nothing. [/quote]
$4500 is also better than going to Cancun.
No kidding. for 4500 I could go to Cabo and have sex with multiple hookers that look like models.
I spoke with the lady who arranges these trips 4 weeks ago to get info for flight and activities in Cancun and Ritz. I asked her what the taxable value of the trip would be and she sad for you and spouse $7,500. $4,500 cash value falls short but at this point I’ll take bird in hand.
Technically they didn’t cancel, said they would pay flight and accomodations however no meals, transportation or activities…I think it has to do with AIG heat. Or take cash in lieu (details mentioned above)
[quote=Gaddock]
It's gone on the 31st and changing to the type of program an older broker can take X out before taxes. Problem, the allowable amounts and projects make it not very practicle (sarcasm) Example no more that $4 for a promotional item. No more more than $25 expenses per client per year. Rules on "marketing" are what is allowed to be deductible per IRS tax return rules etc. etc. A thousand miles from the "reward" for hard work and good production.
[/quote] cmon, now---dont blow it out of proportion.... Thats not exactly the deal....yes its a bitch that the card goes away Jan 1, but if you made a call, you'd know that it has zero to do w/ WS...AND, their working on a replacement.... Nothing else w/ the award changed. no one said anything about reduced limits r any of that crap. quit being so damn negative.I asked the question about taxable value of the trip and that is the exact answer I got. Look I took the cash and I’m fine about it, as for limits what are you referring to? I’m talking about the production trips not a card. I’m on the AGE Legacy side
I see you were talking to the group a page back, the late response through me off
look at my quote, bro---I was replying to Gaddocks post about the card-- I feel you on the trip--been hearing about it in the branch for 2 wks...saving face in the light of AIG's scotsdale trip appearantly. btw--age also. Bladerunner is on SciFi right now---killer movie.I asked the question about taxable value of the trip and that is the exact answer I got. Look I took the cash and I’m fine about it, as for limits what are you referring to? I’m talking about the production trips not a card. I’m on the AGE Legacy side
sorry --slow to reply- missed your post.I see you were talking to the group a page back, the late response through me off
I am packed and ready to roll (and cash a big upfront check). I owe it to my clients and myself to see what the dirt bags at WFC offer. I have a feeling they are going to try to get us to sign a U4 over to WFC without any deal. That will be be the day that I turn in my resignation and go to a firm that has respect for those that produce revenue. The guys at Bear and Lehmann had a sweet retention in front of them within days. HAS ANYBODY HEARD ANYTHING?
I know that Danny and a group where in the “Twin Cities” the last couple of days with there Wells “Merger Partner”. Not sure if they are back today. No new incite on “When” it will be announced, but know it will!?!?