So, What Happens When

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May 31, 2007 7:45 pm

I've never worked for a B/D during a buyout, so I was just wondering...


With the AGE / Wachovia future convergence, what might happen when a broker from each firm has the same client? Say brokers in the same city? Or brokers in different states, but with the same client?

May 31, 2007 10:08 pm

It happens all the time. The client chooses... are doesn't!

May 31, 2007 10:16 pm
Ashland:

It happens all the time. The client chooses... are doesn't!





What on earth does that mean?

May 31, 2007 10:18 pm

When I worked at AGE there were clients that actually had 2 brokers in the same office for different accounts.

May 31, 2007 10:27 pm
Philo Kvetch:
Ashland:

It happens all the time. The client chooses... are doesn't!





What on earth does that mean?





Meant 'or doesn't'. The client can choose to change to just one rep or he/she doesn't have to. Many clients want two or more reps because they want a diversity of ideas, or want someone to manage to a specific goal.

Jun 1, 2007 11:39 am

Weird.  Most firms have a non compete agreement among advisors meaning you cannot prospect another co workers clients.


I would think if you did not have that it would make for a ruthless office atmosphere.

Jun 1, 2007 11:57 am

the overlap issue of clients with accounts at both firms could get sticky