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AGE WB deal sucks for some

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Jun 20, 2007 4:32 pm

[quote=vbrainy][quote=Bobby Hull][quote=FreeLunch]

No offense - I see you and Ferris trolling around on here trying to provoke people - cutting them down trying to make them feel like crap.

I know your type - You are the Condescending Pricks that speak over everybody's head didn't work for crap people.  You are NOTHING.  I KNOW you are nothing.  You probably look down on your clients - You probably truly have no friends.  You probably are so insecure you have to come on this site to belittle people & you have probably been a complete jerk your whole life.

Tell me I suck - Listen buddy - YOU suck.  Trying to tell a 25 year old that's been in the business a year and a half that a trailing 12 months of $95,000 sucks.

I tell you what sucks.  The 50% of my training class that is gone or has either quit.  What's your story prick?  What's your motivation?  What makes you sleep good at night.

I know your type - You are the type of people that make me look good.  I APPRECIATE YOU Mr. Hull.  Keep doing your thing.  I'll keep stealing your clients and squash you.  I appreciate you and I appreciate your attitude.  People like you are my motivation.

Thanks.

[/quote]

My trailing 12 makes me sleep well at night. You sound angry. You are a piker who should get fired for taking up space that could be given to someone who can produce.

[/quote]

Not your trailing 12 now you dope.  What was your trailing 12 with 1 1/2 years in the business.

Free lunch you are doing GREAT.  I bet this guy has not brought in $7 million in the last 18 months.

You got screwed, and I just wonder if you can get out of the contract because AGE got bought out.

[/quote]

Probably about $225,000.

Jun 20, 2007 5:54 pm

Isn’t the internet a wonderful place…a disneyland where anybody can make any claim & who’s to say what is true and what is a lie…truly a wonderful world of make believe.

Jun 20, 2007 6:38 pm

[quote=Broker Fee]Isn't the internet a wonderful place....a disneyland where anybody can make any claim & who's to say what is true and what is a lie....truly a wonderful world of make believe.[/quote]

Is $225,000 really a stretch for you? You can't picture $3.5 million in VA sales in a 12 month period? It's not that big of a deal. I'm sorry it defies your concept of reality. You'll never achieve what you don't believe. Good luck to you.

Jun 20, 2007 9:01 pm

 Bobby Hull,

I know your motto "YTB" Yield To Broker.

Jun 20, 2007 9:06 pm

1 1/2 yrs in I was doing 175k gross with 13 mill aum. you better start hustling or you may yourself out on the street.

Jun 20, 2007 9:39 pm

[quote=advisor28]

 Bobby Hull,

I know your motto "YTB" Yield To Broker.

[/quote]

And?

Jun 20, 2007 10:15 pm

[quote=FreeLunch]

Yep - That's right, I feel like I got crapped on.

1 1/2 years into production with trailing 12 of $95k

7 million in assets.

what did I get?

$1600 bonus every year for 6 years. That's 100 dollars a month salary.  That's $25 per week.  Thanks AGE.

Probably going to get a paycut. 

I'm locked into a training agreement - $75,000

So a 6 year broker with trailing 12 of $150,000 gets a $30,000 check.

I get 1/3 of that .... spread out over 6 years.

Someone, please someone, explain to me how this was a good deal.

Give me a logical argument, please.

[/quote]

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

From the very large producers that I have heard, their opinions on the package are flat to negative. Good chance many of the larger producers will leave. FC’s that are older do not like it at all. The package would involve 10 years to be entirely vested.

The lower producers got a GREAT deal as nobody thought they would get anything. Speculation is the payout was all about trying to keep moral up in the 5 year or less FC’s.

“1.5 years with a T12 of $95,000” 

That puts you just a hair above average in production for 1.5 years. 7 million in assets is lower than average. I’m shooting for 25 million by the end of year 2.

If you hang out you will probably get many inherited accounts when the big guys leave. There will be a good bit of B’s and many C’s that they won’t even care about. Service them well and pump them for referrals all will be well.

As for the contract if you have a good relationship with your manager he/she will probably let you walk as its enforced at the branch level. But where to walk and with what? All you would be doing is putting yourself back 6 months.

As for the incessant negativity on this forum … when I make it in this business I’ll probably have quite the ego as hard as this is. I hope I’m not a negative prick but who knows. For me those comments are white noise and expected.

Jun 20, 2007 10:57 pm

Let me clear up Two things about this whole $95k T12.

First of all, I'm in a small town where I am NOT from and have NO connections.  Got stuck in the town I went to college.

Second of all, I'm not satisfied and I was definitely NOT bragging.

I'm par for the road.  I'm AVERAGE.  Who likes being average.  I don't need to defend myself - Next month I am going to have A $30k month from a $500k VA.

I don't need everyone to tell me I suck.  Really.  I would have quit by now, and I would've been fired by now If I didn't think I would make it.  I'm starting to make a lot of connections, I'm getting good at cold calling, Im still 25 years old - I don't suck.  What are most 25 year olds doing?

I mean seriously.

If I would've known I would get this much negativity I wouldn't have posted. 

Jun 20, 2007 11:33 pm

If you are looking for a shoulder to cry on this aint the place. If misery likes company this may make you feel better.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I am still in the ‘sprint to 24’ I have one heck of a resume. I chose AGE out of many offers, one was HUGE, but I went with AGE. Now I’m a bank broker with a non-compete that has teeth.

You think it sucks for you?  I didn’t even get a kiss on the back of my neck let alone thousands of $$. Still, I force myself to find the opportunity in all of this.

Get a grip, you’re doing great, YOU ARE STILL STANDING where most have failed.
Jun 20, 2007 11:40 pm

I appreciate that Gaddock.  Thanks for the reply - you are right, and although some of these posts have been brutal, it really has put it in perspective.

I've got a desk, a computer, a license, a phone, and even a TV.  right now, I'm getting 40% cut.  I shouldn't complain.

Thanks again.

Jun 21, 2007 12:07 am

[quote=FreeLunch]What are most 25 year olds doing?[/quote] Hopefully hot 18 year old college girls.

Jun 21, 2007 12:08 am

or 16

Jun 21, 2007 12:12 am

[quote=FreeLunch]or 16[/quote]

depending on your state and possibly a parental note!

Jun 21, 2007 3:17 am

This thread has certainly quickly swung into a swinging dick contest.

Bobby, with all due respect, you are in asshole mode on this thread. The guy feels bad enough, why do you need to piss on the kid? And if you did $225k your first year you should probably be in jail

Free lunch - there aint no free lunch. You;re doing ok at $95k t-12. Not great, but ok. You;ve proven that you can make it. But you havent made it yet. Whats more important, why the f*ck did you think you deserved a bonus? You should blow whoever decided that you should get $1600. Just because you are at a company that gets bought out? Just because the guy sitting next to you got offered more, because he is in the biz 3 times longer than you?

Chill out, get Wachovia-ized, its not such a bad place I;m sure, (i dont work for them), and build your biz. Then if you want you can go to the idiots at ML, MS, or SB, and gget a check for serious money, because then, you earned it. There aint no free lunch, FreeLunch!!!

Jun 21, 2007 3:30 am

[quote=pratoman]

This thread has certainly quickly swung into a swinging dick contest.

Bobby, with all due respect, you are in asshole mode on this thread. The guy feels bad enough, why do you need to piss on the kid? And if you did $225k your first year you should probably be in jail

Free lunch - there aint no free lunch. You;re doing ok at $95k t-12. Not great, but ok. You;ve proven that you can make it. But you havent made it yet. Whats more important, why the f*ck did you think you deserved a bonus? You should blow whoever decided that you should get $1600. Just because you are at a company that gets bought out? Just because the guy sitting next to you got offered more, because he is in the biz 3 times longer than you?

Chill out, get Wachovia-ized, its not such a bad place I;m sure, (i dont work for them), and build your biz. Then if you want you can go to the idiots at ML, MS, or SB, and gget a check for serious money, because then, you earned it. There aint no free lunch, FreeLunch!!!

[/quote]

Looks like you're an asshole, too. I'll add you to the "due respect" list.

First year was $160,000 or so. T12 at 18 months was probably $225,000.

Jun 21, 2007 3:38 am

[quote=Bobby Hull]

Looks like you're an asshole, too. I'll add you to the "due respect" list.

First year was $160,000 or so. T12 at 18 months was probably $225,000.

[/quote]

Your my idol.  And I'll add you to the "swinging dick" list.

Seriously, did you ever think of helping some of these young kids instead of denegrating them? Share a little of your wisdom with them, it might come back to you some day.

Jun 21, 2007 3:51 am

[quote=pratoman][quote=Bobby Hull]

Looks like you're an asshole, too. I'll add you to the "due respect" list.

First year was $160,000 or so. T12 at 18 months was probably $225,000.

[/quote]

Your my idol.  And I'll add you to the "swinging dick" list.

Seriously, did you ever think of helping some of these young kids instead of denegrating them? Share a little of your wisdom with them, it might come back to you some day.

[/quote]

A kid doing $95,000 and complaining about free money is beyond help. I save my help for smart people. This guy will probably be sh*tcanned soon after Wach. figures out he's even there and AGE ain't around to nurture him along.

Jun 21, 2007 8:03 am

[quote=FreeLunch]

Like most of ya, my skin is thick.  But Hull telling me I suck pissed me off, that wasn’t the post I was looking for.

[/quote]



Hull is our resident forum troll. He adopts the persona of annuity
shark and heaps abuse on everyone and everything that moves. Ignore him
and he ignores you.



As for your situation, your in good shape to have been retained, but in
the grand scheme of things you are nothing to WB, so expect to be
treated accordingly.






Jun 21, 2007 10:52 am

[quote=AllREIT] [quote=FreeLunch]

Like most of ya, my skin is thick.  But Hull telling me I suck pissed me off, that wasn't the post I was looking for.

[/quote]

Hull is our resident forum troll. He adopts the persona of annuity shark and heaps abuse on everyone and everything that moves. Ignore him and he ignores you.

As for your situation, your in good shape to have been retained, but in the grand scheme of things you are nothing to WB, so expect to be treated accordingly.



[/quote]

Right on both counts

Jun 21, 2007 2:06 pm

From what can see T12 of 95k buys you another year. Year two is where the rubber meets the road. Your pipeline should be full and by now you should have a handle on bringing in assets. That said your bigger problem is the culture shock of going from AGE to Wachovia. Wachovia is not the kind, gentle, employee first place that AGE is. You might want to open a dialog with the local branches of other firms or at least develope a departure plan.

Part of that plan should be to go into overdrive to bring in as many assets and do as much production as possible over the coming months before closing and integration. Next month's annuity is a great start. Doing this will make you very attractive to the competition as well as putting you in good stead with numbers driven culture at Wachovia.

As for the deal you got; you have the option of turning it down, which is what I would do if it comes with strings locking you into a time commitment.

If you work hard and build the assets and production your day of a big money deal will come. When it does you'll be in the driver's seat, able to dictate terms. Until then keep your eye on the prize.