Commissions

or Register to post new content in the forum

10 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jun 28, 2005 6:53 pm

I have been told my management that I am due to be fired in 2 days, for not meeting AUM in 6 months of employment.  I would like to know if they can legally keep my commisions that have already earned. 

Jun 28, 2005 7:08 pm

I am pretty sure they can. They can spin it as a way to recoup training costs, overhead, etc, etc....

Jun 28, 2005 10:38 pm
bullbear98444:

I have been told my management that I am due to be fired in 2 days, for not meeting AUM in 6 months of employment.  I would like to know if they can legally keep my commisions that have already earned. 


No. If they try, tell them that you've already talked to the Attorney General's office in your state and the workforce commission. They can't hold your WAGES.

Jun 28, 2005 11:20 pm
bullbear98444:

I have been told my management that I am due to be
fired in 2 days, for not meeting AUM in 6 months of employment.  I
would like to know if they can legally keep my commisions that have
already earned. 





Would you care to divulge the name of the firm you work for?  And your AUM amount?

Jun 28, 2005 11:24 pm

PS.



If you want to keep your job, tell management that if they fire you
that you'll come back with a loaded shotgun and go postal on their
a$$es. 

Jun 29, 2005 4:30 pm

Lets just say I work with middle to lower income tax leads hence, small accounts.  It has been brutal, they are firing me after a few months even though I cosistently open accounts and set up dca's these people have no money to invest(they are small) the company does not want anymore reps who do not have books already in existance, so I guess i gotta go. 

Jun 29, 2005 5:32 pm

Be POSITIVE: You still have one more day to meet your objectives!

Jun 29, 2005 6:22 pm
bullbear98444:

Lets just say I work with middle to lower income tax leads hence, small accounts.  It has been brutal, they are firing me after a few months even though I cosistently open accounts and set up dca's these people have no money to invest(they are small) the company does not want anymore reps who do not have books already in existance, so I guess i gotta go. 


Why do you work with pikers? It takes just as long (sometimes less) to close a real client that it takes to close a 50,000 account. The firm is losing money on you and you're not making money for yourself. It's time for you to go. Good luck in your next career.

Jul 6, 2005 8:39 pm

Make sure you have your client list before you go! 


Go find an indy firm that will give you the freedom to open those smaller accounts, if you want to stay in.

Aug 3, 2005 9:00 pm

Hey BB,


Ya gotta read the fine print on the contract.  I hate that firm you're talking about.  If you want to go indy, give me a call.  And RRlawyer is right.  What state are you in?  I don't usually get to this board until late at nite, so send me a private email at [email protected] if you like.  I've known some others that have worked there before and have had similar stories.  Yeah and take your client list and any leads you can.  And don't let those a%$holes talk down to you.  When one door closes another always opens.  And you need to be ready to jump through it.