Sharing Retention Package

who is asking to “share” your package?

Branch Manager wants us to share 10%. Our BM is sharing 10% of their retention package. However our BM is in a very different financial situation than us brokers.

[quote=Brokermike99]

Branch Manager wants us to share 10%. Our BM is sharing 10% of their retention package. However our BM is in a very different financial situation than us brokers.

[/quote]

Share with whom--or is it who?  I suppose he's talking about support staff.

It would be a good idea to keep in mind the wisdom in the adage, "Go along to get along."

Have it taken out before taxes and figure that it was found money in the first place.

You can’t take the lump sum if you share it.

We pay our FA a % of the business each month, plus bonus $ when we hit certain goals. We will share some of the bonus $ w/ her but not 10%…maybe along the lines of 5%.  If you are taking the yearly cash deal then 5% seems fare, you pay them as you get it.  The bonus loan is a different story.  We have to sign the deal, not them. I’ll pay 1/6now and the rest every anniversary.

[quote=shredder]We pay our FA a % of the business each month, plus bonus $ when we hit certain goals. We will share some of the bonus $ w/ her but not 10%....maybe along the lines of 5%.  If you are taking the yearly cash deal then 5% seems fare, you pay them as you get it.  The bonus loan is a different story.  We have to sign the deal, not them. I'll pay 1/6now and the rest every anniversary. [/quote]

It breaks my heart to see proof of how my beloved industry has lowered the standards for admission.

my bad, FAIR

[quote=shredder]my bad, FAIR[/quote]

How did you get out of high school without knowing that?

How did you get out of high school without knowing that?

Why are you still posting on this forum? Aren't you retired? Dont you have better things to do? Do you truly think anyone gives a $hit what you say?

Go clean that mess out of your diaper and let this website go... Just... Let it go... Buh bye...

[quote=blarmston]

How did you get out of high school without knowing that?

Why are you still posting on this forum? Aren't you retired? Dont you have better things to do? Do you truly think anyone gives a $hit what you say?

Go clean that mess out of your diaper and let this website go... Just... Let it go... Buh bye...

[/quote]

How do you figure he got out of high school without knowing that?

Maybe he had a rich daddy who never loved him but wrote a big check to get his idiot son through high school…

[quote=blarmston]Maybe he had a rich daddy who never loved him but wrote a big check to get his idiot son through high school...[/quote]

Could be, but probabaly not.  I think it's because the teachers came through the dumbed down schools.

You did too for that matter.

But isnt that how you made it through school? And then your great college in Texas? And your fathers connections to get you into Wall Street where you plodded along your whole life before retiring or being forced out a couple years ago?

You live a worthless existence.

[quote=blarmston]

But isnt that how you made it through school? And then your great college in Texas? And your fathers connections to get you into Wall Street where you plodded along your whole life before retiring or being forced out a couple years ago?

You live a worthless existence.

[/quote]

Nah I went to public schools.

Why do you think I went to college in Texas?  Is Williams in Texas?

My father had zero connections to Wall Street--less than zero for that matter.

I have more experience with Wall Street than every other poster on this forum put together.

I have forgotten more than small time brokers like you will ever know--but if you shut up and pay attention you might learn some things.

I think most fcs take the upfront deal. If that shuts out the fa’s from compensation, something else will have to be done for them. I hear of nobody talking up the 6 year equal installment option.

From a time value of money perspective, taking the upfront money is a no

brainer. It does cut out the FA’s, but who says you just can’t up the monthly

amount you contribute to them?

Personally I am giving all mine to teh staff…I mean its found money anyway

I have more experience with Wall Street than every other poster on this forum put together.

You were a joke a year ago, and you are still a joke. You come back and a new generation of posters have no clue who you are... but you come back and post the same old questions just to get a rise so you can spout all your wisdom. Your "wisdom on Wall Street hiring practices", your "wisdom on pain thresholds of clients", your "wisdom that present day brokers have no talent or clue as to what they are doing because some choose to outsource the asset management..."

Put- you were a douche then and you are still a douche. Maybe the newbies dont know yet but most of us do. And it wont take long for the rest to catch on... Go play with your rat-dog and leave this forum to people who are actually STILL in the business...

[quote=blarmston]

Go play with your rat-dog and leave this forum to people who are actually STILL in the business...

[/quote]

Do you think that when you've been around for thirty five to forty years you'll know more than you do now?

I love my assistant, but let's be realistic.  I am the one that has to make a commitment, not her.  I understand if it is a long time relationship, but my assitant that has been with me a year?  and could leave tomorrow with no strings?  No thank you.

But, that being said I think I may be more inclined to increase her bonuses and pay now that I am in a better financial position.

By the way, why do grownups have to come to this forum and make fun of others?  Aren't you entrusted with managaing millions of client dollars?  Anything better to do?

[quote=benjamin]

By the way, why do grownups have to come to this forum and make fun of

others?[/quote]



It’s fun. The question is, why do you think you are so superior?

I don't.  If I thought I was, I wouldn't be asking questions and caring what the answers are/were.

Ok just checking.  It sounded like you were trying to pick a fight.

Here's my take on the loan bonus.  I pay my assistant each month, so I've decided to up that amount instead of giving her a percentage of the bonus.  It's to my advantage to take the upfront money, but that doesn't mean she doesn't deserve something.  Now if she is gone in a year then I'm not out anything.

[quote=Devil’sAdvocate]

I have more experience with Wall Street than every other poster on this forum put together.

[/quote]

Yet you couldn't make a go of it actually dealing with clients....

Actually our office shares an assistant, and I very rarely utilize her because I prefer to do my own paperwork after the market closes so I can be comfortable knowing it was done correctly. She does not have her 7 or otherwise. Our wire clerk merely does her job, nothing more, nothing less. Don't get me wrong they're nice people but I'd like to hear a few more opinions.

Thanks

well the option is on the table today any additional thoughts?

Actually, I think that is riduculous.  They must know you would never leave and are taking advantage of you.  A retention bonus is paid to brokers because their is a value to them staying.  If they wanted to pay the SAs they would, but they don't.  Tell your branch manager to get stuffed.  Has he ever done anything for you?

The whole thing stinks.

Are you the only broker in the office asked to share?   Approx. how much are they asking you to "share" dollar wise.

good luck.  If you want a branch, go to RJ.

Any update?  What happened. 

Just ignore the idiots and do not respond to them.

Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they’re still getting 10%. From the three brokers in my office they’ll make out with about 80k. Nice

[quote=Brokermike99]Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they’re still getting 10%. From the three brokers in my office they’ll make out with about 80k. Nice [/quote] Yet another reason I’m glad to be independent…no one tells me how to compensate my assistant.

[quote=Indyone][quote=Brokermike99]Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they're still getting 10%. From the three brokers in my office they'll make out with about 80k. Nice [/quote] Yet another reason I'm glad to be independent...no one tells me how to compensate my assistant.[/quote]

And nobody is going to offer you hundreds of thousands of dollars just to get you to stay.

You should be so lucky as to have to deal with a "suggestion" that you should contribute 10% of found money to a pool for the girls in the office.

[quote=Indyone][quote=Brokermike99]Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they’re still getting 10%. From the three brokers in my office they’ll make out with about 80k. Nice [/quote] Yet another reason I’m glad to be independent…no one tells me how to compensate my assistant.

And nobody is going to offer you hundreds of thousands of dollars just to get you to stay.

You should be so lucky as to have to deal with a "suggestion" that you should contribute 10% of found money to a pool for the girls in the office.[/quote]

That's a trade-off I'm willing to accept.  I'll get mine in the form of a buyout when I'm ready to hang it up.  Meanwhile, I'll enjoy making more than 50% more net in my 2nd year as an indy than I did in my best year as an employee...different strokes...

[quote=DAtoo][quote=Indyone][quote=Brokermike99]Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they’re still getting 10%. From the three brokers in my office they’ll make out with about 80k. Nice [/quote] Yet another reason I’m glad to be independent…no one tells me how to compensate my assistant.

And nobody is going to offer you hundreds of thousands of dollars just to get you to stay.

You should be so lucky as to have to deal with a "suggestion" that you should contribute 10% of found money to a pool for the girls in the office.[/quote]

That's a trade-off I'm willing to accept.  I'll get mine in the form of a buyout when I'm ready to hang it up.  Meanwhile, I'll enjoy making more than 50% more net in my 2nd year as an indy than I did in my best year as an employee...different strokes...

[/quote]

Making sixty grand instead of thirty grand is not a victory.

Unfortunately it isn’t “found money” as it involves a rather large commitment from me for the next 6 years. Gifts to other employees are irrevocable, consequently anything I gift, plus my pro-rated share of the upfront money, I’m liable for in the event I leave or go indy. Essentially I’m taking all of the risk and garnering 90% of the reward.

[quote=Indyone][quote=DAtoo][quote=Indyone][quote=Brokermike99]Well it looks like I have to go along to get along. Despite the fact that they bring no value to the table they’re still getting 10%. From the three brokers in my office they’ll make out with about 80k. Nice [/quote] Yet another reason I’m glad to be independent…no one tells me how to compensate my assistant.

And nobody is going to offer you hundreds of thousands of dollars just to get you to stay.

You should be so lucky as to have to deal with a "suggestion" that you should contribute 10% of found money to a pool for the girls in the office.[/quote]

That's a trade-off I'm willing to accept.  I'll get mine in the form of a buyout when I'm ready to hang it up.  Meanwhile, I'll enjoy making more than 50% more net in my 2nd year as an indy than I did in my best year as an employee...different strokes...[/quote] Making sixty grand instead of thirty grand is not a victory.[/quote]

It is if you're my assistant.  Thankfully, even the bank paid me a lot better than that...

...and check your math...I wasn't claiming a 100% increase...just a measly 50%...on a considerable larger number than your little joke suggested.  Come on, DA...it was funny when Bobby originally used it on you, but not nearly as funny when you parrot it on me...

[quote=Brokermike99]Unfortunately it isn’t “found money” as it involves a rather large commitment from me for the next 6 years. Gifts to other employees are irrevocable, consequently anything I gift, plus my pro-rated share of the upfront money, I’m liable for in the event I leave or go indy. Essentially I’m taking all of the risk and garnering 90% of the reward.[/quote] So if you left in a year, the assistants would literally get most of your bonus?  That does suck.  It sounds like another way for your BOM to keep his hooks in you, frankly.

Making sixty grand instead of thirty grand is not a victory.

You are an idiot. Another example that you are not too intelligent if you cant grasp the fact that 50% more on 30K is 45K, NOT 60K.

[quote=blarmston]

Making sixty grand instead of thirty grand is not a victory.

You are an idiot. Another example that you are not too intelligent if you cant grasp the fact that 50% more on 30K is 45K, NOT 60K.

[/quote]

I gave him the benefit of the doubt---in an attempt to inflate his ego.

…that’s why you’re here…to inflate my poor ego…

It's so classic. Perfect example of an intelligent (at some things) person with no social skills and a severe lack of personality. Put the guy in the real world (other than pushing paper at work or internet forums in retirement) and he is incapable...

No wonder he hates us- we would eat him up...

Just IGNORE them.  Noone reads their posts.  The minute we see their handle, we skip over it.  I have no idea what they say, cause I never read their sh**.  It is not worth any of our time.

Well, it will be interesting if the other AGE reps are pushed on this.  My problem is that this is supposed to by YOUR business.  To me that means you take ALL the risks and you make the decisions.

AGE was a great firm.

[quote=vbrainy]

Just IGNORE them.  Noone reads their posts.  The minute we see their handle, we skip over it.  I have no idea what they say, cause I never read their sh**.  It is not worth any of our time.

Well, it will be interesting if the other AGE reps are pushed on this.  My problem is that this is supposed to by YOUR business.  To me that means you take ALL the risks and you make the decisions.

AGE was a great firm.

It is just that, your decision. There is no presuure from above to make the split. If there is any pressure, then it is from the BOM and the proper response is, "this issue is between myself and my FA." End of subject

[quote=Ferris Bueller]You get caught in a blatant mistake and this is your cover?  You are indeed the moron that you advertise yourself to be.[/quote] I get it…I thought DA was short for Devil’s Advocate…

It isn’t pressure. I was told that I had to give 10% when I questioned it today. It has been dictated. I used to love AGE. What the hell happened???

[quote=Brokermike99]It isn't pressure. I was told that I had to give 10% when I questioned it today. It has been dictated. I used to love AGE. What the hell happened????????????????????[/quote]

tell the BOM to "pound sand". He CAN NOT dictate to you what is not his money.

Mike99, the manager can’t make you do it.  When you complete the online form and finally any paperwork don’t write it in.  If he brings it up again, tell him you had your attorney help you with the documents  before completing.  If he insists afterwards call your regional manager directly.    

[quote=GoingIndy????]Mike99, the manager can't make you do it.  When you complete the online form and finally any paperwork don't write it in.  If he brings it up again, tell him you had your attorney help you with the documents  before completing.  If he insists afterwards call your regional manager directly.     [/quote]

Yeah that's a smart thing to do.  Getting on the wrong side of the branch manager, and whining to the regional manager is brilliant.

Mike is the recipient of "found money."  The only reason he is getting anything is because he happened to be in the right place at the right time.

There is no reason why he should't contribute 10% to a kitty to be divided among the others in the branch.  Failure to do so will certainly not win him any friends among the rest of the staff.

The phrase, "Go along to get along" was invented for times like this.

[quote=DAtoo]

[quote=GoingIndy???]Mike99, the manager can’t make you do it.  When you complete the online form and finally any paperwork don’t write it in.  If he brings it up again, tell him you had your attorney help you with the documents  before completing.  If he insists afterwards call your regional manager directly.     [/quote]

Yeah that's a smart thing to do.  Getting on the wrong side of the branch manager, and whining to the regional manager is brilliant.

Mike is the recipient of "found money."  The only reason he is getting anything is because he happened to be in the right place at the right time.

There is no reason why he should't contribute 10% to a kitty to be divided among the others in the branch.  Failure to do so will certainly not win him any friends among the rest of the staff.

The phrase, "Go along to get along" was invented for times like this.

Mike99,
 That sounds to me a lot like a continuation of the managers’ initial pitch, which has been, “Just give it a year, nothing will change in that time, plus you get 1/6th of your bonus forgiven.” Sounds to me like your manager wants to push that to ‘Just give it two years, because you’ve given most of year one’s money to staff’. Not a great sign, I’d say.
 Is that really the environment in which you want to spend your career? Is your signature on a non-solicitation agreement (no matter how “break-away” they claim it is) worth that?

The fact remains that this branch will continue to exist and Mike's existence there can become pure hell if nobody will talk to him, the girls won't help him, the manager won't give him leads, the manager will be more critical, and on and on.

Giviing up ten percent of found money is not that big a deal--he should be falling all over himself in gratitude for the 90% that he will end up keeping if he goes along to get along.

Being the turd in the punchbowl may appeal to some, but it doesn't to me and it souldn't to Mike.

DAtoo,
 Shut the F&%K up here, old man. We are discussing business on this thread.

[quote=YHWY]DAtoo,
 Shut the F&%K up here, old man. We are discussing business on this thread.
[/quote]

I know, that's why I'm here--to offer management's point of view.

That you don't want to hear it is irrelevant.

And what a dynamic manager you must have been. Buh-bye, now.

[quote=DAtoo]

[quote=YHWY]DAtoo,
 Shut the F&%K up here, old man. We are discussing business on this thread.
[/quote]

I know, that's why I'm here--to offer management's point of view.

That you don't want to hear it is irrelevant.

[/quote]

Most brokers understand that management tends to be more stupid than sales assistants. Don't fool yourself into thinking otherwise. We wipe our asses with your memos. Why do you think there are garbage cans next to the mailboxes? Go f**k your wife, she ain't so bad in bed. Have a nice evening.

[quote=DAtoo]

the manager won’t give him leads

[quote=joedabrkr] [quote=DAtoo]

the manager won't give him leads

[/quote]



That's a good one.  BOM's don't have leads that count worth a cr*p.
[/quote]

Joeboy, had you not been such a negative in your branch you  would realize that there are a lot of people who will call a place like PaineWebber and ask to speak to the manager.

The result of that call will be a referal by the manager to a broker within their office.

When I was breaking in I got several of them, all were decent accounts and one was a whale.

You need to set the inner rage aside, the negative energy you emit is palatable, even through the Internet.

No one has to ask me to share my bonus with my assistant. She does more work than I do. She's earned every sent of a shared deal. If she didnt work so hard - I wouldnt be making such a huge bonus.

Those who dont feel they need to share the bonus just dont have superior support.   

[quote=Bache&co]

No one has to ask me to share my bonus with my assistant. She does more work than I do. She's earned every sent of a shared deal. If she didnt work so hard - I wouldnt be making such a huge bonus.

Those who dont feel they need to share the bonus just dont have superior support.   

[/quote]

How many sents did she earn?

[quote=DAtoo][quote=Bache&co]

No one has to ask me to share my bonus with my assistant. She does more work than I do. She's earned every sent of a shared deal. If she didnt work so hard - I wouldnt be making such a huge bonus.

Those who dont feel they need to share the bonus just dont have superior support.   

[/quote]

How many sents did she earn?

[/quote]

If you knew who you were making fun of, you would be humbled by her production and the type of work that she does. She can spell "sentz" any way she wants to, Asswhole.

C’mon, Bobby, something as pedestrian as “production” is beneath DAtoo.

[quote=YHWY]C'mon, Bobby, something as pedestrian as "production" is beneath DAtoo.[/quote]

The only thing beneath dattoo is his son being raped by his father.

One thing’s for sure, a person who trudges through life just KNOWING he’s always the smartest person in the room (by an order of magnitude) certainly has had no personal experience with any “Retention Packages”.

[quote=DAtoo][quote=joedabrkr] [quote=DAtoo]

the manager won't give him leads

[/quote]



That's a good one.  BOM's don't have leads that count worth a cr*p.
[/quote]

Joeboy, had you not been such a negative in your branch you  would realize that there are a lot of people who will call a place like PaineWebber and ask to speak to the manager.

The result of that call will be a referal by the manager to a broker within their office.

When I was breaking in I got several of them, all were decent accounts and one was a whale.

You need to set the inner rage aside, the negative energy you emit is palatable, even through the Internet.

Hey JoeDaMan, your Cards are looking good right now… That Ankiel kid can play eh? Big weekend series- my buddy is a Cubs fan and he is getting a little nervous with you guys moving up quickly…

[quote=joedabrkr]

I would be willing to bet heavily that you received an above average number of those referrals from the BOM largely because you were a good boot licker, which would explain why you ended up living in middle management because you couldn't handle production.  That you were a failed producer would also explain why it was sgnificant to you that the BOM threw you an occasional bone.


[/quote]

Joeboy, you can't have it both ways.  Either BOMs have the ability to provide leads or they don't.

Which is it?

[quote=DAtoo]

[quote=GoingIndy????]Mike99, the manager can't make you do it.  When you complete the online form and finally any paperwork don't write it in.  If he brings it up again, tell him you had your attorney help you with the documents  before completing.  If he insists afterwards call your regional manager directly.     [/quote]

Yeah that's a smart thing to do.  Getting on the wrong side of the branch manager, and whining to the regional manager is brilliant.[/quote]

Get stuffed, DA, that has to be the dumbest advice you’ve given yet. The branch manager is an EMPLOYEE of the successful broker. There's no reason to rub his nose in it daily, but when some manager pretends to be something he isn’t, it behooves the successful broker to remind that office rat that his job is to hire receptionists, make sure the coffee service is good and keep the lights on. He’s a DRAG on the p/l, not an addition to it. And it surely isn’t his place to attempt to be some wirehouse version of Tony Soprano trying to intimidate a broker into paying the support staff money that the firm itself should be paying them.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I suspect if the broker ever did feel forced to call a regional manager about the branch flunkie’s attempt to extort a broker like this, it would be a bad day for the branch manager.

[quote=DAtoo][quote=joedabrkr] [quote=DAtoo]

the manager won't give him leads

[/quote]



That's a good one.  BOM's don't have leads that count worth a cr*p.
[/quote]

Joeboy, had you not been such a negative in your branch you  would realize that there are a lot of people who will call a place like PaineWebber and ask to speak to the manager.

The result of that call will be a referal by the manager to a broker within their office.[/quote]

Unless the guy's a producing manager, in which case it ends up in his book. Either way, the rare occasion that a manager would toss you a bone is no reason to put up with extortion. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=Bache&co]

No one has to ask me to share my bonus with my assistant. She does more work than I do. She's earned every sent of a shared deal. If she didnt work so hard - I wouldnt be making such a huge bonus.

Those who dont feel they need to share the bonus just dont have superior support.   

[/quote]

It's one thing to decide to do that on your own, it's another to be extorted into it.

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do.

It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[quote=DAtoo] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do. [/quote]

You're really so far removed from reality that you liken a regime fee on a condo with a manager trying to strong-arm someone into giving up their money?  And to what end? So that the branch flunky can look like a hero to the support staff by being generous with OTHER people's  money?

[quote=DAtoo]It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[/quote]

You might want to look up the word "extortion" if you think "you don't have to give me your money, you can just deal with the consequences" doesn't exactly define it.

[quote=DAtoo]

[quote=joedabrkr]

I would be willing to bet heavily that you received an above average number of those referrals from the BOM largely because you were a good boot licker, which would explain why you ended up living in middle management because you couldn’t handle production.  That you were a failed producer would also explain why it was sgnificant to you that the BOM threw you an occasional bone.


[/quote]

Joeboy, you can't have it both ways.  Either BOMs have the ability to provide leads or they don't.

Which is it?

[quote=mikebutler222]

[quote=DAtoo] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do. [/quote]

You're really so far removed from reality that you liken a regime fee on a condo with a manager trying to strong-arm someone into giving up their money?  And to what end? So that the branch flunky can look like a hero to the support staff by being generous with OTHER people's  money?

[quote=DAtoo]It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[/quote]

You might want to look up the word "extortion" if you think "you don't have to give me your money, you can just deal with the consequences" doesn't exactly define it.

[/quote]

Here we have a "financial advisor" who whines day in and day out on this forum referring to a guy or gal who was selected as one of the few allowed to manage a branch a "flunky."

If Mike Butler were earning more than $60,000 a year he'd be way too busy to waste a single moment strutting his stuff among fellow losers.

As I said, the kid at AGE can simply tell the manager that he is not going to contribute to the fund.  As is being pointed out it's his choice.

That's what Mike Butler would do, because Mike Butler has no clue what it means to go along to get along and he's the laughing stock of his branch already.

[quote=DAtoo][quote=mikebutler222]

[quote=DAtoo]

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do. [/quote]

You're really so far removed from reality that you liken a regime fee on a condo with a manager trying to strong-arm someone into giving up their money?  And to what end? So that the branch flunky can look like a hero to the support staff by being generous with OTHER people's  money?

[quote=DAtoo]It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[/quote]

You might want to look up the word "extortion" if you think "you don't have to give me your money, you can just deal with the consequences" doesn't exactly define it.

[/quote]

Here we have a "financial advisor" who whines day in and day out on this forum referring to a guy or gal who was selected as one of the few allowed to manage a branch a "flunky."

If Mike Butler were earning more than $60,000 a year he'd be way too busy to waste a single moment strutting his stuff among fellow losers.

As I said, the kid at AGE can simply tell the manager that he is not going to contribute to the fund.  As is being pointed out it's his choice.

That's what Mike Butler would do, because Mike Butler has no clue what it means to go along to get along and he's the laughing stock of his branch already.

[quote=joedabrkr] [quote=DAtoo][quote=mikebutler222]

[quote=DAtoo]

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do. [/quote]

You're really so far removed from reality that you liken a regime fee on a condo with a manager trying to strong-arm someone into giving up their money?  And to what end? So that the branch flunky can look like a hero to the support staff by being generous with OTHER people's  money?

[quote=DAtoo]It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[/quote]

You might want to look up the word "extortion" if you think "you don't have to give me your money, you can just deal with the consequences" doesn't exactly define it.

[/quote]

Here we have a "financial advisor" who whines day in and day out on this forum referring to a guy or gal who was selected as one of the few allowed to manage a branch a "flunky."

If Mike Butler were earning more than $60,000 a year he'd be way too busy to waste a single moment strutting his stuff among fellow losers.

As I said, the kid at AGE can simply tell the manager that he is not going to contribute to the fund.  As is being pointed out it's his choice.

That's what Mike Butler would do, because Mike Butler has no clue what it means to go along to get along and he's the laughing stock of his branch already.

[/quote]

So says the retired bureaucrat/flunky as he types from his rent controlled studio in Alphabet City...
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Joeboy, keep up.  I left NYC months ago and am living in Atlanta--actually Sandy Spring, GA.

[quote=DAtoo][quote=mikebutler222] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=DAtoo]

If you live in a condo you are expected to contribute to funds that may be used for things you would just as soon not do. [/quote]

You're really so far removed from reality that you liken a regime fee on a condo with a manager trying to strong-arm someone into giving up their money?  And to what end? So that the branch flunky can look like a hero to the support staff by being generous with OTHER people's  money?

[quote=DAtoo]It's not extortion.

The guy at AGE can refuse to take part and deal with the repurcussions.

[/quote]

You might want to look up the word "extortion" if you think "you don't have to give me your money, you can just deal with the consequences" doesn't exactly define it.

 BTW, grammar/spelling Nazi, the word is “repercussions”.

[/quote]

Here we have a "financial advisor" who whines day in and day out on this forum referring to a guy or gal who was selected as one of the few allowed to manage a branch a "flunky." [/quote]

Here was have a guy who washed out as an FA and had to seek shelter in the lifeboat of branch management whose post-working existence is so bereft of meaning that he has to appear here to attempt to continue the only perk his job gave him, the brow beating of newbies. What really must sting for him is that this forum contains not just newbies, but people who have been around long enough to know how low on the totem pole he really was back in his working days….

[quote=DAtoo]

If Mike Butler were earning more than $60,000 a year he'd be way too busy to waste a single moment strutting his stuff among fellow losers. [/quote]

ROFLMAO, I guess when you have nothing else, you can claim the other guy isn’t successful. Rest assured, little man, I’m doing just fine, succeeded at a job you couldn’t do.

[quote=DAtoo]

As I said, the kid at AGE can simply tell the manager that he is not going to contribute to the fund.  As is being pointed out it's his choice. [/quote]

It’s been pointed out to those unfamiliar with the term that that amounts to extortion. That may be something wash-outs like DA would put up with, given he has no real choices and feels his tenuous grip on employment slipping away, but it isn’t something that people with options should have to tolerate.

[quote=DAtoo]

That's what Mike Butler would do, because Mike Butler has no clue what it means to go along to get along and he's the laughing stock of his branch already.

[/quote]

“Go along to get along” must mean an FA should bend over so that some mid-level drag on the P/L sheet can reach into his pocket, give his money to staff people the drag underpays to begin with, all so said drag can be a hero to the girl in the wireroom.

Then again, guys who rush to the lifeboat are used to bending over, mostly because they realize they have no choice.

[quote=mikebutler222]<O:P></O:P>

It’s been pointed out to those unfamiliar with the term that that amounts to extortion. That may be something wash-outs like DA would put up with, given he has no real choices and feels his tenuous grip on employment slipping away, but it isn’t something that people with options should have to tolerate.

[/quote]

Mike Butler has a loose grip on reality.  "People with options" do not have to tolerate anything--it's only the weak sisters who have to tolerate abuse.

If the AGE kid is a stud he can tell the BOM that he's not going to contribute to the fund and deal with whatever happens.

Mike Butler, do you measure your brokerage career in weeks or months at this point?

[quote=mikebutler222]

“Go along to get along” must mean an FA should bend over so that some mid-level drag on the P/L sheet can reach into his pocket, give his money to staff people the drag underpays to begin with, all so said drag can be a hero to the girl in the wireroom.

Then again, guys who rush to the lifeboat are used to bending over, mostly because they realize they have no choice.

[quote=DAtoo][quote=mikebutler222]<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

It’s been pointed out to those unfamiliar with the term that that amounts to extortion. That may be something wash-outs like DA would put up with, given he has no real choices and feels his tenuous grip on employment slipping away, but it isn’t something that people with options should have to tolerate.

[/quote]

Mike Butler has a loose grip on reality.  "People with options" do not have to tolerate anything--it's only the weak sisters who have to tolerate abuse.  [/quote]

Says the guy suggesting the FA take the obvious abuse to “go along to get along”

[quote=DAtoo]

If the AGE kid is a stud he can tell the BOM that he's not going to contribute to the fund and deal with whatever happens. [/quote]

That’s what this boils down to for our favorite FA washout/dog dresser, the “kid” at AGE and the big, manly branch manager (that DA sees himself as) bending the “kid” over for the manager’s self interest, re-defined as “the common good”.

If  “the kid” bends over for this obvious extortion, he deserves what get gets, both in loss of money and loss of self-respect.

[quote=DAtoo] Mike Butler, do you measure your brokerage career in weeks or months at this point?

[/quote]

Good old washout/dog dresser’s world outlook, everybody must be a newbie, a potential abuse victim at the hands of some mid-level flunky. Sorry to burst your bubble, DA, by my career in measured in years, nearly 15 of them, and mostly in a wirehouse environment. All of them succeeding at a job you failed at.

[quote=joedabrkr] [quote=mikebutler222]

“Go along to get along” must mean an FA should bend over so that some mid-level drag on the P/L sheet can reach into his pocket, give his money to staff people the drag underpays to begin with, all so said drag can be a hero to the girl in the wireroom.

Then again, guys who rush to the lifeboat are used to bending over, mostly because they realize they have no choice.

[/quote]

::tips hat::

Well said Mike.  Careful how you think or you'll find yourself joining us on the dark side one day.
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Eh, if the world of a wirehouse was really as DA believes, that successful FAs had to worry about the whims of the washout carrying the title of branch manager beyond doing good, clean and client-centred business, I would already be long gone....

Brokermike - AGE managers are being bonused for keeping the troops happy. Your retention is yours and he has no rights to pressure you into sharing it. Is there an assistant manager or top producer you can talk to?  

[quote=Bache&co]Brokermike - AGE managers are being bonused for keeping the troops happy. Your retention is yours and he has no rights to pressure you into sharing it. Is there an assistant manager or top producer you can talk to?  [/quote]

I agree--he should whine to the others and get them all to revolt against the idea.

Being a team player in a branch office is overrated.  Pissing on the BOM's ideas is a great way to set yourself off as being unique.

Being a team player in a branch office is overrated.  Pissing on the
BOM’s ideas is a great way to set yourself off as being unique.

It doesn’t take much to imagine what the “team” dynamic was like in this guy’s office. Ugghhhh (cold shiver). That assumes, of course, that DAtoo ever actually managed a brokerage office; a point that I do not concede.