Has Anyone received their AGE overtime settlement$
I was just wondering if anyone has received the cash from the overtime wage settlement??
Nothing yet for our bunch. Wasn’t the expected timeline Octoberish?
Checks were sent out over a month ago. Everyone should have gotten paid.
Didn’t we get paid about 2 years ago on this? Is there a Nother one?
Me neither. A quick search turned up this link: http://www.whafh.com/modules/case/index.php?action=view&id=863 which says we have until October 5, 2009 to return the claim forms. So how can checks be already mailed?Haven’t gotten mine yet
Looks like The final hearing was today. Hopefully well get our checks soon
Overtime settlement for Financial Advisors? This is seriously the funniest thing I've ever heard.
So, you all make minimum wage or something? Here, I thought the FA's on here were all rock stars....bummer for me to find this out. I'm home office. Why is it every time I return a call to an FA after market close...voice mail? Did you all use your clock punch cards to prove how much overtime you had? Seriously, who came up with the magical calculation for how many hours an FA works?Actually, you don’t pay my salary. If you look at quarterly results, you’ll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue. FA’s on the average are break even. Now I get that those fees are due to your clients and their assets. But at the end of the day, without the BDS and Fees, I wouldn’t have a salary and you wouldn’t have a firm to provide you with the products and services you provide your client. So, we’re really in the same boat…because without me (us), you are on your own.
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms. Genius. Seriously...they got rich with the tort. I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit.Ferris, I can’t argue either of your points. Well put. But, my opinion stands…no hard feelings.
[quote=RicRelo]
Overtime settlement for Financial Advisors? This is seriously the funniest thing I’ve ever heard.
So, you all make minimum wage or something? Here, I thought the FA’s on here were all rock stars…bummer for me to find this out.
I’m home office. Why is it every time I return a call to an FA after market close…voice mail? Did you all use your clock punch cards to prove how much overtime you had? Seriously, who came up with the magical calculation for how many hours an FA works?[/quote]
You are so clueless.
You have any idea how hard it is to get clients and do business?
Go into FA training program then, clerk.
Income unlimited.
Go for it
[quote=Shania Twain] [quote=RicRelo]
Overtime settlement for Financial Advisors? This is seriously the funniest thing I've ever heard.
So, you all make minimum wage or something? Here, I thought the FA's on here were all rock stars....bummer for me to find this out.
I'm home office. Why is it every time I return a call to an FA after market close...voice mail? Did you all use your clock punch cards to prove how much overtime you had? Seriously, who came up with the magical calculation for how many hours an FA works?[/quote]
Go into FA training program then, clerk.
Income unlimited.
Go for it[/quote] Nah, I do quite well from the sweat off all your 9am-3pm backs. Although the ARS crap you all sold (and got paid for) screwed up my bonus last year.
[quote=RicRelo]Actually, you don’t pay my salary. If you look at quarterly results, you’ll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue. FA’s on the average are break even. Now I get that those fees are due to your clients and their assets. But at the end of the day, without the BDS and Fees, I wouldn’t have a salary and you wouldn’t have a firm to provide you with the products and services you provide your client. So, we’re really in the same boat…because without me (us), you are on your own.
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms. Genius. Seriously...they got rich with the tort. I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. [/quote]Do you really think clients ask us questions like that?? Geesh.
[quote=Ferris Bueller] [quote=RicRelo]
Why would I have to explain it to my clients? Not a single one knows about it. And if they did, I'd explain that I dont understand it either but it's free money. Seriously. why would they care. [/quote] Good point again, Ferris. Please stop responding. p.s. But you did miss a question mark...
[quote=Ferris Bueller] [quote=RicRelo]. Although the ARS crap you all sold (and got paid for) screwed up my bonus last year.
[/quote]I think it sucks that the Home office bonuses were cut because of this but I REPEATEDLY called the home office in December 07, asking about ARS/MARS and every person in the bond dept I spoke with thought I was crazy to even be questioning them. Why are these paying so high when nothing else is? How are these insured? Can these fail? And the answers I got were a joke. Time for the home offices to be shifting some of that blame to their short term cash desk traders.[/quote] Agreed. Lot's of blame to go around. We just happen to take the hit on this one...big time. Bonus was cut to 18.62% of target...It mattered.
Ric
You are spot on that the law suit is total BS. Ambulance chasing scum bag trial lawyers wreck USA and this totally baseless BS lawsuit is really wrong.
[quote=AGEMAN][quote=RicRelo]Actually, you don’t pay my salary. If you look at quarterly results, you’ll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue. FA’s on the average are break even. Now I get that those fees are due to your clients and their assets. But at the end of the day, without the BDS and Fees, I wouldn’t have a salary and you wouldn’t have a firm to provide you with the products and services you provide your client. So, we’re really in the same boat…because without me (us), you are on your own.
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms. Genius. Seriously...they got rich with the tort. I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. [/quote] The part of your quote above that says firm profitability tracks close to BDS and fees which means that is what is leftover after your salary is paid by our work so we do pay your salary!![/quote] Yeah, you're right AGE. You don't need us. We contribute nothing. Can I have a raise?Wow, Shania!!! BTW...what the fnck did you do with BP and Meletio?Ric
You are spot on that the law suit is total BS. Ambulance chasing scum bag trial lawyers wreck USA and this totally baseless BS lawsuit is really wrong.
AGE, the best service we provide doesn't go to the top producers, like most think...we could give a sh!t. I've never once checked production of an FA I'm talking to. The best service goes to someone who said "thanks," the previous time we talked...Ric–of course we need you and all of the home office peeps
[quote=Ferris Bueller]I’m going to the strip club with mine[/quote]
Don’t forget to stuff an Andrew Jackson in Be Patient’s wife’s thong.
I bought here some new juggs with my Forefront money.
Seems to be running as efficient as the 4front program. I have not received anything yet.
I called Garden City Administrators last week and they said it’s usually about 45 days after final hearing date, which was October 5, so I’m guessing about 3-4 more weeks…I agree that the settlement is total BS, but somehow feel like its a payback for getting bent over on other issues, so I’m happy to cash the check…
I spoke to the law firm and they said checks will be mailed This Friday. Perfect timing, I am going to give it to all the clients who are complaining about the AG Edwards class action lawsuit they are getting in the mail. These lawyers are insane, and we are the industry that needs to lower our fees.
Check came in the mail today.
Papa's going shopping for a new laptop! Got ma gov'ment settlement check today
Got mine today, it came interoffice.
I assume that was a joke?
It came interoffice, unless I’m getting another settlement for something I don’t know about.
Did u recieve overtime settlement check for wachovia?
It was from Wachovia. Another broker told me it was the settlement check. If its not I have no idea what it is then.
Got mine today.
You guys in Cali?
Got it today too, interoffice. Thought that was unusual. More than I thought also.
Mid-Atlantic.Anyone in PAC south received their checks?
[quote=Ferris Bueller]I got my check and spent the entire thing at the local titty bar. From what I remember, it was a good time![/quote
Sounds like a good idea...road trip to Toronto when I get my check. Screw Christmas!Never got my check…called the claims admin and they were less than helpful…
I called the lawyers and they said the check should go out end of December
This sounds about as organized as Forefront. i was told all check were mailed from counsel on Nov. 20. clusterf**
The checks were all cut thru Wachovia payroll and distributed interoffice.
Never got mine. Anyone from west coast receive their ot check?
im in midwest…never got mine…should be a blast to try and track down.