accounts under 80K I think broker gets "0."  Thats right nothing..makes sense, what a fucing joke this place is.

[quote=fritz]

accounts under 80K I think broker gets "0."  Thats right nothing..makes sense, what a fucing joke this place is.

[/quote]

I assume you mean households, not accounts, under $80k. That would be news, where did you see that?

HH I hope too…Have it believe it is, but it was unclear.

[quote=fritz]HH I hope too...Have it believe it is, but it was unclear.[/quote]

And again, where did you hear this news you're so quick to believe?

My friend who was our branch manager who got pushed back into production during office politics last year when the region got realligned.  He said the account raising, or household raising was the worst of it.  And some a 1% bumpup on grid in the 350-400 range.

I didn't ask him to raise his right hand and swear by this, but it is what he said. 

[quote=fritz]

My friend who was our branch manager who got pushed back into production during office politics last year when the region got realligned.  He said the account raising, or household raising was the worst of it.  And some a 1% bumpup on grid in the 350-400 range.

I didn't ask him to raise his right hand and swear by this, but it is what he said. 

[/quote]

I heard the new household limit is going to be 50k (up from 35k).  I also heard the rumor that the grid is going to be increased for those over the 300k level.  Really good news for a change.  I don't think they are doing anything to the penalty box. 

Of course, it's all rumor at this point. We'll know for sure in a few weeks.

No bump up for 300-400. Let get real, Why should they? they are in the 3rd to 4th quartile. Why reward the lower half? No bump unless doing million plus. These are the people the firm wants, the most profitable one. Business 101.

[quote=Elvis]No bump up for 300-400. Let get real, Why should they? they are in the 3rd to 4th quartile. Why reward the lower half? No bump unless doing million plus. These are the people the firm wants, the most profitable one. Business 101. [/quote]

First of all, 300 - 400 is not 3rd to 4th quartile.  MS doesn't want FA's that do less than 300, so they are going to give FAs an incentive to get up to that range. They also want to reduce attrition.

[quote=Elvis]No bump up for 300-400.  [/quote]

Too late, already been announced....

[quote=fritz]

accounts under 80K I think broker gets "0."  Thats right nothing..makes sense, what a fucing joke this place is.

[/quote]

Fritz, seriously, you're the most negative person I've ever encountered who's passed a Series 7 and is still in the business. You bite on, believe and then rant about every negative rumor that gets floated. You can’t be happy, why do you; 1) Stay at the firm you’re at if you hate it so much or 2) stay in the business if you hate it so much?<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

This job is too hard, hell, life is too hard to do things you hate. Surely you have other options either in firms or other professions.

How about Gorman's comments about lower producers, the writing is on the wall... I spoke with a MS rep the other day, only 9% of the companies revenue comes from the retail side. They might want to rid themselves of the liability/costs and focus on Investment Banking and HNW.

http://www.investmentnews.com/article.cms?articleId=56064

[quote=NHrep]

How about Gorman's comments about lower producers, the writing is on the wall... [/quote]

It's been on the wall since last year when 500 of them went away. That was the stick, the bump in payouts and the bonuses for production above $300k is the carrot. Read the article about the tiny books, 5MM, and how the trainee program is being changed. Gorman's also talked about the bottom half of clients and how they account for the vast majority of litigation costs.

[quote=NHrep]

I spoke with a MS rep the other day, only 9% of the companies revenue comes from the retail side. They might want to rid themselves of the liability/costs and focus on Investment Banking and HNW.

http://www.investmentnews.com/article.cms?articleId=56064

[/quote]

They might, some day, but the drive now is to unify the two parts that never really merged fully under Purcell. We'll see...