A Very Good Idea

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Aug 20, 2006 10:14 am

I've got a great idea for the overtime lawyers.


Several times a year professional athletes have to work longer than they expected--football overtimes, tied baseball games going into the wee hours, hell even Tiger Woods might have to play some sudden death.


I'll bet they would want to sue, and it would give you a chance to perform your public service work while meeting some celebrities.

Aug 20, 2006 10:25 am

Good idea!  And how about six weeks of vacation for the water boys?  That's the way it is for the water boys at major wirehouses!

Aug 20, 2006 12:39 pm

funny post

Aug 20, 2006 12:42 pm

acutally, I think the big companies should worry more about the advisors spending money out of pocket for telephone calls, postage, office supplies, or to travel to meetings 200 miles away and not get paid gas. All so the person can "do their job".



I wont be a part of this suit because I knew the expectations when I came on and accepted the job.

Aug 20, 2006 12:46 pm
peanutbroker:

acutally, I think the big companies should worry more about the advisors spending money out of pocket for telephone calls, postage, office supplies, or to travel to meetings 200 miles away and not get paid gas. All so the person can "do their job".

I wont be a part of this suit because I knew the expectations when I came on and accepted the job.


I'll tell you this.  Go into your BOM and make a deal.  Ask him or her if they will reimburse you 40 cents per mile if you do a seminar in a distant town and it brings in five new accounts.


You'll get a positive response.  I'd pay for your gas out of my own pocket as a sign of respect for your spirit--but I could also use my branch discretionary account too.

Aug 20, 2006 12:48 pm

As for phone calls, postage and office supplies--what are you talking about?

Aug 20, 2006 1:00 pm

I hear some companies make their people pay for the long distance calls and postage for mailers they want to send out for marketing. Oh and if they want to buy supplies for a seminar it is on them.

Aug 20, 2006 1:04 pm

Good idea on asking the BOM to reimburse for mileage.

Aug 20, 2006 1:16 pm
peanutbroker:

I hear some companies make their people pay for the long distance calls and postage for mailers they want to send out for marketing. Oh and if they want to buy supplies for a seminar it is on them.



That would definitely be at places like LPL--yet to read this forum you'd think that there was nowhere near as good as there.


What would be the name of a firm that you think probably charges their brokers for their office supplies, phone calls and postage?

Aug 20, 2006 2:36 pm

Edward Jones. Half of postage and phone bill (not just long distance) and all

of marketing mailer type stuff; don't remember about office supplies.

Aug 20, 2006 3:49 pm
NASD Newbie:
peanutbroker:

I hear some companies make their people pay for the long distance calls and postage for mailers they want to send out for marketing. Oh and if they want to buy supplies for a seminar it is on them.

That would definitely be at places like LPL--yet to read this forum you'd think that there was nowhere near as good as there.


Uh, yeah...at 92% payout I expect to pay a few bills.


...and of course I think it's the best firm for me...otherwise, I wouldn't be here.  It's not like I have any non-compete hanging over my head.

Aug 20, 2006 11:44 pm
NASD Newbie:
peanutbroker:

I hear some companies make their people pay for the long distance calls and postage for mailers they want to send out for marketing. Oh and if they want to buy supplies for a seminar it is on them.


That would definitely be at places like LPL--yet to read this forum you'd think that there was nowhere near as good as there.


What would be the name of a firm that you think probably charges their brokers for their office supplies, phone calls and postage?



At LPL you pay those expenses because you own the business, just like at any other indy firm such as Ray Jay or Wachovia FiNet.  You also get a higher payout in return.

Ameriprise from what I understand makes you pay for postage at many branches.  I also know of AG Edwards BOM's who charge the advisors back for long distance and postage.

Aug 21, 2006 7:01 am
joedabrkr:



At LPL you pay those expenses because you own the business, just like at any other indy firm such as Ray Jay or Wachovia FiNet.  You also get a higher payout in return.

Ameriprise from what I understand makes you pay for postage at many branches.  I also know of AG Edwards BOM's who charge the advisors back for long distance and postage.

What you'll find is that all firms have systems that track who in their branch made a phone call.  It's easy to glance at such a report and see that Bob Broker sure made a lot of calls, and notice that most of them are to his hometown.  In fact, it appears as though he called his Mother every day--nice of a son to check on his mother, but on his own time and with his own dime.


As for postage.  In order to control expenses most firms will debit their broker's paycheck for large mailings--otherwise some guy who is not doing large mailings will complain that he's not spending money on mailings so he wants the firm to have his lunch delivered, or he wants a ficus plant for his office, or he wants.........the list is endless.  Particularly popular are flat screen TVs to hang on the wall, tuned to CNBC of course.  Well, unless it's World Series time or something else that's more imporant than Maria Bartoromo.


How to say, "Since you're giving that to him, I want this in return" in clever ways seems to be a pamphlet that is included with the welcome material at awards trip hotels.


Recently I suggested that you offer your BOM a wager.  If you open a certain number of accounts as a result of conducting a seminar you will be reimbursed for the postage and/or gasoline you bought to pull the seminar together.  Branch managers love schidt like that and will take your challenge.


American Express did charge for things like postage, phone--even using the copier and there was a charge for a share of the rent for the office.  I don't know if Ameriprise is doing that, but American Express sure did--it was a common complaint you'd hear from their reps.