AGE--Crest and Above?

Where does your information coming from?

Please define CREST? Not wired in to this term.

[quote=Biasedrecruiter]Please define CREST? Not wired in to this term.[/quote]

Anyone with production of $350k and higher for the fiscal year.

Fiscal year (Feb. through March) gross production of $350,000.00 or more.

March through Febraury, sorry.

Thanks:

Wow 350k and above…  That will have 50% or more of the brokers seething!  RJ has been waiting for this news.  AGE and RJ have a very similar culture.  C’mon over.

Tarpon, if this turns out to be accurate (which I have absolutely no evidence of), I think quite a few of us will.

the answer is coming thursday.

So the scuttlebut says, anyway…

This is like watching two train.... no more like one train and a heard of sheep... ok, buffaloes, not sheep. A train careening around the trackdown from the mountain and around the corner, no brakes! And the buffaloes standing there wondering what that sound is.

Get out of the way buffaloes! Tatonka, tatonka mooove, before you get hit and derail that train and all the nices peoples inside the train get into their crash positions! Oh! Lookout!

And then the buffalo start to run! Run Buffaloes run, wild and free! Wait! Wait! Look out buffaloes! That's a cliff! Buffaloes! STOP! But keep going while you're stopping so you don't get hit by the train and derail it and all the nice peoples inside get into their crash positions..... oooooohhhhh...

One piece of advice I can impart... Don't be in a rush, keep cool while others are losing their heads, you know, if you stay while everybody else leaves, you can always leave later, with a bigger book made up of the clients that didn't leave, waiting around for a year could mean an extra couple of hundred thousand dollars. I don't care if you do or you don't I'm just saying.

Finally, some imaginative nonsense! (followed by some real input).

Just remember… if any of the regionals was NEVER going to be sold… it was AG Edwards. How long can RJ have left?

[quote=aldo63]the answer is coming thursday.[/quote]

Where do you come up with Thursday as the day?

cmein1999: Never Ever ask that kind of question here (if want an answer, anyway)

from a Long term age manager

[quote=Broker010]cmein1999: Never Ever ask that kind of question here (if want an answer, anyway) [/quote]

I mean not to pry, or want to know the sources name, just the broad strokes of where its coming from... AGE/WB or a guesstimate.

I can tell you it’s a guestimate, at best. My BM has been so for over 25 years, is a President’s Club producer and is a very good friend of mine. He is as in the dark as any of us, as is our regional manager, at least since he left for St. Louis and has since been incommunicado. 

I hate to say this but you know what would be a brilliant move for WB and would be great and suck for you guys?

If WB put out a retention package based on assets retained instead of past production. Baseline you at your current AUM and then bonus the crap outta you for any growth. Big producers would take it (plus they can get a second dip into the trough) but little producers can become big producers and get a bigger bonus than the corner office crowd.

They could RICHLY reward increased assets per fa. And then if you left you would be skrued blewed and tatooed!

And if you stayed! Think of all the money you could have for having done so, and if nobody around you left, then you'd sniff out money like the truffel pig of a starving French farmer!

It's a brilliant idea! Good thing they'll never do it!

Do you really think so, WIMC?.  I think they’re more concerned with the revenue the assets generate than the assets themselves.

It would be way too revealing to word a deal in terms AUM, this would be obvious for all to see that they are buying the rights to our books. By basing it on gross production, they can keep the Leagalese at a level that this won’t be so apparent.

It's brilliant I'm telling you!

What firm is going to give you a top payout for you to join them when they know that the brokers staying behind are getting a 90% payout on all commissions on these retained assets and a slice of asset bonus pie a'la mode!

Some branch manager at Barney hires 5 AGE guys with $150MM in AUM at AGE and $300,000 each in prodo he pays $1.5 MM and the 2/3s of assets stay at AGE/WB  now Barney branch has 5 guys doing sub $200,000 he's soon to be the former BOM!

I'm going to put this idea into the suggestion box for the next takeover!

I wish you guys luck, I really do.

Whoa! What an idea!

FreedomLvr,

That's the beauty, they are only interested in the assets, the rest (fees, commish, etc) will follow.

The point is that they scare the living crap out of any broker looking to jump ship and they shoot a warning shot across the bow of any ship that might want to hire guys leaving. It's a pushyou/pullme (as opposed to a pushme/pullyou). It's lose lose for the leaving broker and the firm that hires him.

ESPECIALLY if someone was looking to go Indy. (Guy's it's VERY easy to scare clients into a Wait and See mode when the broker is going Indy, it is the toughest sale to convince your clients to set sail on the good ship indy, during turbulent times).

Again, I don't think they're going to do this. But they and every firm SHOULD.  

Broker010,

Asset sales are done all of the time. When MER bought Blackrock, did they really care about the clients that were coming with? No! they bought the assets.

When you go to another firm, they will want to know your asset base and your production they will base your offer on the lower of the two. if you're doing 800,000 on 25MM your offer is going to be substantially lower than he deal they offer a guy with 100MM and 800M. Sim, if you have 400MM and do 400M your offer is based on the 400M, not the 400MM.

Point being, they are all asset based and there is nobody that cares. Certainly nobody that can actually do anything about it anyway. 

[quote=Whomitmayconcer]

Broker010,

Asset sales are done all of the time. When MER bought Blackrock, did they really care about the clients that were coming with? No! they bought the assets.

When you go to another firm, they will want to know your asset base and your production they will base your offer on the lower of the two. if you're doing 800,000 on 25MM your offer is going to be substantially lower than he deal they offer a guy with 100MM and 800M. Sim, if you have 400MM and do 400M your offer is based on the 400M, not the 400MM.

Point being, they are all asset based and there is nobody that cares. Certainly nobody that can actually do anything about it anyway. 

[/quote]

Nice fantasy but won't happen in our life time. The Blackrock deal you mention is for pure asset managers, which AGE FC's are not.  Enough with the conjecture and speculation...we'll find out soon enuf and judging by the rumor mill and #'s being thrown around, no one will be happy.  FYI - regionals are back from St Lo yesterday. Read into it what you will.

Ahhhh… Let Whomit fantasize about various scenarios… This merger is the most exciting thing to happen in his life since SB swapped with Legg last year…

[quote=aldo63]the answer is coming thursday.[/quote]

I heard it was Thursday as well in a training VX today from the top person in the training dept. Not to include those in training. Seemed like public knowledge the way they said it.

"The Blackrock deal you mention is for pure asset managers, "

Fair enough. Bad example.

Once again, a thread fizzles into nothingness. I hate being one of the Seekers, rather that on of the (as I now know are mythical, Knowers.) My apologies to all who were looking for that bit of hidden knowledge from me. Shame on all those who have claimed to have it. My boredom and frustration may cause me to start posting intentionally fictitious information just to amuse myself. Be warned.

[quote=Whomitmayconcer]

I hate to say this but you know what would be a brilliant move for WB and would be great and suck for you guys?

If WB put out a retention package based on assets retained instead of past production. Baseline you at your current AUM and then bonus the crap outta you for any growth. Big producers would take it (plus they can get a second dip into the trough) but little producers can become big producers and get a bigger bonus than the corner office crowd.

They could RICHLY reward increased assets per fa. And then if you left you would be skrued blewed and tatooed!

And if you stayed! Think of all the money you could have for having done so, and if nobody around you left, then you'd sniff out money like the truffel pig of a starving French farmer!

It's a brilliant idea! Good thing they'll never do it!

[quote=Whomitmayconcer]

I hate to say this but you know what would be a brilliant move for WB and would be great and suck for you guys?

If WB put out a retention package based on assets retained instead of past production. Baseline you at your current AUM and then bonus the crap outta you for any growth. Big producers would take it (plus they can get a second dip into the trough) but little producers can become big producers and get a bigger bonus than the corner office crowd.

They could RICHLY reward increased assets per fa. And then if you left you would be skrued blewed and tatooed!

And if you stayed! Think of all the money you could have for having done so, and if nobody around you left, then you'd sniff out money like the truffel pig of a starving French farmer!

It's a brilliant idea! Good thing they'll never do it!

It’s brilliant, if you take the human free-will variable out of the equation. Whoa to those who underestimate their opponent.

10 not condoning it but you have to admit it would be tough to be the 1st guy out the door.

In all honesty, I’m not smart enough to understand the premise.

check the "age offer" recent post. that is almost exactly what i heard.

sometimes the manager wont tell his brokers....but will tell his broker friends

Aldo, I repeat my post on the thread in question: if you believe this and you have continued to work for your BM, this deal is all good for you; you already work at a wirehouse.