I think it’s more a function of fear for their job than a magical turn around in efficiency. Fear is a great motivation.

Either way, it’s working

Well, I stewed over this all weekend, and I have a question.  We (WS/AGE) have been making the comments of “the new firm must not think much of us if there has been no retention info”, and after listening to Danny’s call on Friday, and finding out that they have not even GIVEN the numbers to Wells, who’s the real problem??  Danny, or Wells, or neither??

The problem is you and I do not know what Wells is saying to WS management.  It may be that Wells is telling Danny L that they are not ready to talk about retention.  I have a very difficult time believing that DL "dropped the ball" on this.  It would be so out of character that I just dont believe that happened.

Just another day to follow the “bouncing ball”                                     

Danny sent a letter to ME!! He said happy holiday and he knows it's been tough. Since he's thinking of ME I feel great .... Wait ????????

Everybody got one

[quote=Gaddock]

Danny sent a letter to ME!! He said happy holiday and he knows it’s been tough. Since he’s thinking of ME I feel great … Wait ???

Everybody got one

I think the reason we have not been told about the retention is because there isn’t any.  There is no good way to tell us that.  My question would be where is it better?  I don’t have other options locally (No MS, ML, SmithBarney, UBS).  I guess I don’t know where it would be better.  I am happy with our new pay plan, I don’t like the little fees, but if that is bad is it will get it doesn’t seem that bad.  I don’t want to go Independant, I like that we have a parent that bailed us out of the MARS, even if the told us they were liquid.  I guess if I was to move it would just be for the check and I don’t know if that is enough of a reason to move.  I like Danny, he doesn’t make my skin crawl like Bagby.  I think he is doing all he can for us, it seems like WFC is holding all the cards and there is nothing Danny can do.  I could be wrong, but I believe that he is trying.

I think the reason we have not been told about the retention is because there isn’t any. There is no good way to tell us that. My question would be where is it better? I don’t have other options locally (No MS, ML, SmithBarney, UBS). I guess I don’t know where it would be better. I am happy with our new pay plan, I don’t like the little fees, but if that is bad is it will get it doesn’t seem that bad. I don’t want to go Independant, I like that we have a parent that bailed us out of the MARS, even if the told us they were liquid. I guess if I was to move it would just be for the check and I don’t know if that is enough of a reason to move. I like Danny, he doesn’t make my skin crawl like Bagby. I think he is doing all he can for us, it seems like WFC is holding all the cards and there is nothing Danny can do. I could be wrong, but I believe that he is trying.

[quote=JamesF]I think the reason we have not been told about the retention is because there isn’t any.  There is no good way to tell us that.  My question would be where is it better?  I don’t have other options locally (No MS, ML, SmithBarney, UBS).  I guess I don’t know where it would be better.  I am happy with our new pay plan, I don’t like the little fees, but if that is bad is it will get it doesn’t seem that bad.  I don’t want to go Independant, I like that we have a parent that bailed us out of the MARS, even if the told us they were liquid.  I guess if I was to move it would just be for the check and I don’t know if that is enough of a reason to move.  I like Danny, he doesn’t make my skin crawl like Bagby.  I think he is doing all he can for us, it seems like WFC is holding all the cards and there is nothing Danny can do.  I could be wrong, but I believe that he is trying.[/quote]

I wouldn’t go to any of those you mentioned…however I would seriosuly look at RayJay and Stifel…both great firms and good people…and less BS

What Im really wondering now is if there is a retention, what period of time will they be using to measure t-12?

[quote=JamesF] I think the reason we have not been told about the retention is because there isn’t any.  There is no good way to tell us that.  My question would be where is it better?  I don’t have other options locally (No MS, ML, SmithBarney, UBS).  I guess I don’t know where it would be better.  I am happy with our new pay plan, I don’t like the little fees, but if that is bad is it will get it doesn’t seem that bad.  I don’t want to go Independant, I like that we have a parent that bailed us out of the MARS, even if the told us they were liquid.  I guess if I was to move it would just be for the check and I don’t know if that is enough of a reason to move.  I like Danny, he doesn’t make my skin crawl like Bagby.  I think he is doing all he can for us, it seems like WFC is holding all the cards and there is nothing Danny can do.  I could be wrong, but I believe that he is trying.[/quote]


LOL there is absolutely no way… NO WAY there is not a retention package. Well that is unless your production is below the level that retention is granted.

There will be significant, if not vast “retention” by Wells (assuming they choose to retain the WB Securities unit), regardless of whether or not they write a single check.

[quote=YHWY]There will be significant, if not vast “retention” by Wells (assuming they choose to retain the WB Securities unit), regardless of whether or not they write a single check.
[/quote]

LOL, sad but true…

[quote=3rd ID]What Im really wondering now is if there is a retention, what period of time will they be using to measure t-12? [/quote] 

A theory is that WFC is waiting untill the shareholder vote to announce a retention. They need all the votes they can get. The source in management that I spoke with (off the record) guessed that AT BEST it would be the BAC/MER deal LESS what the FA was given in retention for the AGE merger. The attitude is "do you see what is going on over there? take the big check and have fun. the retention bonus will not be in the ballpark". We will see but I concur that WFC wants the shareholder vote over and then drop the bad news on WS/AGE. It doesn't look good. I am sitting on options; but what to do?!

I don’t see why it should be “LESS” anything.  

[quote=Go_Long]I don’t see why it should be “LESS” anything.  [/quote]
At this point we need to face the facts…whether you think Danny is the second coming or not, he doesnt run this show anymore…even if he wants a great retention package…which I doubt anyway…it likely will not happen. I can’t see them doing nothing…but I think it will be small or back end loaded and top heavy. I think for the avg producer it will be underwhelming at best. If you want a good package your best bet is not staying at WS/WFC…this is also true if you want less BS, and better payout…my suggestion would have something in place sooner rather than later…there will be more brokers wanting out of WS, SB, ML etc soon than there will be places willing or able to take them

I am a 1.2 mill broker and yes I also look forward to "Retention", but lots of pesimism. We will get same deal as Merrill. WFC is taking their time just like they took their time to buy us. They bought us when THEY were ready and they will produce retention when THEY are ready