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Jul 8, 2005 7:28 pm

Hello all,


Have my final interview/employment offer this Monday with Raymond James.  Excited and nervous about the career change but looking foward to a new challenge.


The question or concern I have is what should I expect in the way of non-compete, repayment of training and such from RJ?


Looking for a "heads up" so to say as new field and not sure what the norm is.



Thank you for any and all input.

Jul 8, 2005 7:37 pm

Rule #1 - Begin with the end in mind.


The fact that you're asking places you at the head of the class.


You really should be asking RJ about the divorce clause. Let them tell you what will happen. Compare what they say to the actual contract you sign. If there are no discrepancies, then you're dealing with some better than average people.


If they gloss over it, and omit anything important, I'd look for another place to hang my shingle.


And remember, everything is negotiable.

Jul 8, 2005 7:44 pm

Ditto Roger's answer, plus you may even ask to have a copy of the contract, so your attorney can look it over. In my opinion, the interviewer will be impressed with your professionalism and the fact that you want to "cover all the bases" before signing on.

Jul 9, 2005 10:36 am

Someone I know started at RJ recently and did not have to sign a non
compete or repayment of training costs agreement.  At least that's
what he told me.  Usually only the huge firms make you sign those
because headhunters are constantly harassing their brokers, trying to
take brokers along with their assets out of 'Mother' and others. 
The smaller firms don't have to worry about it as much. 

Jul 14, 2005 8:55 am

We sign a non compete clause with repayment of training fees to the tune of $65,300.  It never bothered me much because I knew I would only leave RJ if I left the industry.  Which I do not plan to do.


The Florida training program is great.  I hope your branch manager gives you training and time to study.  Good luck.

Jul 14, 2005 9:04 am
maybeeeeeeee:

We sign a non compete clause with repayment of
training fees to the tune of $65,300.  It never bothered me much
because I knew I would only leave RJ if I left the industry. 
Which I do not plan to do.


The Florida training program is great.  I hope your branch manager gives you training and time to study.  Good luck.





Tell us, like what did they tell you when you like asked why it was $65,300?

Jul 14, 2005 3:56 pm
Put Trader:

Tell us, like what did they tell you when you like asked why it was $65,300?


Hey, everyone, look -- puttyndacrack is jealous! Nobody ever spent $65,300 on him, so he's going to pout.

Jul 14, 2005 5:14 pm
Roger Thornhill:
Put Trader:

Tell us, like what did they tell you when you like asked why it was $65,300?


Hey, everyone, look -- puttyndacrack is jealous! Nobody ever spent $65,300 on him, so he's going to pout.





The boys and girls are reminded again that Roger is dense as
mercury--you'd think he's stop pointiing at himself as scraming, "Here,
over here, look at me!  I'm dumb as a stump!"



Is it possible that my question of the airhead from Raymond James was
an query regarding what RJ told her when she asked, "My that's a lot of
money--how does it break down?"



No adult would sign such an agreement without asking, would they?

Jul 14, 2005 5:20 pm
maybeeeeeeee:

We sign a non compete clause with repayment of
training fees to the tune of $65,300.  It never bothered me much
because I knew I would only leave RJ if I left the industry. 
Which I do not plan to do.


The Florida training program is great.  I hope your branch manager gives you training and time to study.  Good luck.





One wonders how you would know if the training was great or not--what with having never been trained anywhere else.



I showed some of your stuff to an associate earlier in the day. 
She walked away saying, "Probably a Merrill broker trying to make
Raymond James look bad."



Could be.

Jul 14, 2005 5:46 pm

I was a little nervous signing the agreement myself. However to think that they actually spent what they say they spend on training is delusional. If you are worried about them putting that 65k to ya, then just don't quit. If after a while you feel that this industry is not for you, just let them fire you. If they let you go I can't see any grounds for sticking the non-compete to you. Best of luck.

Jul 14, 2005 5:50 pm
Put Trader:

No adult would sign such an agreement without asking, would they?


It sounds like puttyndacrack has learned the hard way, from experience, albeit for a much smaller amount. ROFLMAO 

Jul 14, 2005 6:14 pm
Cruiser:

I
was a little nervous signing the agreement myself. However to think
that they actually spent what they say they spend on training is
delusional. If you are worried about them putting that 65k to ya, then
just don't quit. If after a while you feel that this industry is not
for you, just let them fire you. If they let you go I can't see any
grounds for sticking the non-compete to you. Best of luck.





Good Lord, RJ hired this fool in addition to the airhead?  Time to short RJF, their standards are close to zero.

Jul 14, 2005 6:15 pm
Roger Thornhill:
Put Trader:

No adult would sign such an agreement without asking, would they?


It sounds like puttyndacrack has learned the hard way, from experience, albeit for a much smaller amount. ROFLMAO 





What do you think I do Roger?

Jul 14, 2005 6:36 pm

[quote=Put Trader] What do you think I do Roger? [/quote]



Between sessions, you troll the net, flaming those who have done better in life than you have (and that's virtually everybody).

Jul 14, 2005 6:44 pm

Put,


  What do you know about standards? You are probably so old that you would not have a clue as to what it is like being a rookie today. I think you blow alot of hot air. I admit sometimes you post good info on the industry in general. However if you happen to have a difference of oppinion with someone, you just start trashing them. Why are you so insecure?

Jul 15, 2005 11:10 am

You are so right.  Look at the number of posts Put makes in a day.  And he is hated here, just loves punishment.  That is why he stays at AMEX


The non compete clause is mostly an emotional ploy.  It makes the trainee really think about whether he is at the right company and whether he wanted to stay.  It is supposed to be for the cost of training.  It does not hold up in most states with right to work laws.


Since AMEX reps leave in DROVES they probably think it is a waste of paper to have a non compete.  We just got a rep who used AMEX for the 7 and & 66 sponsorship then left for RJ.


DOES ANYONE LEAVE A MAJOR FIRM TO GO TO AMEX??  No, but plenty of AMEX reps leave to go to AGE, RJ, SB ets.   AMEX is just like a starting place, not a place to be proud of and rest.


Unless, of course, you are a HUGE talking head like Put sailing down the Hershey highway without a care in the world. (or a single important thought.)

Jul 15, 2005 11:22 am
maybeeeeeeee:

You are so right.  Look at the number of
posts Put makes in a day.  And he is hated here, just loves
punishment.  That is why he stays at AMEX


The non compete clause is mostly an emotional ploy.  It makes
the trainee really think about whether he is at the right company and
whether he wanted to stay.  It is supposed to be for the cost of
training.  It does not hold up in most states with right to work
laws.


Since AMEX reps leave in DROVES they probably think it is a waste of
paper to have a non compete.  We just got a rep who used AMEX for
the 7 and & 66 sponsorship then left for RJ.


DOES ANYONE LEAVE A MAJOR FIRM TO GO TO AMEX??  No, but plenty
of AMEX reps leave to go to AGE, RJ, SB ets.   AMEX is just
like a starting place, not a place to be proud of and rest.


Unless, of course, you are a HUGE talking head like Put sailing down
the Hershey highway without a care in the world. (or a single important
thought.)





Tell us, dear, how much experience do you have?  Why it goes all the way back to Easter doen't it.



When you're packing your things up to go home for the last time you'll
be muttering, "Damn, Put Trader was right.  I was going to fail at
this."



You'll think it was Raymond James--and to a degree it will have
been--but mostly it will be because you're about as credible as a fart
in the wind.

Jul 15, 2005 11:25 am
Put Trader:

Tell us, dear, how much experience do you have?  Why it goes all the way back to Easter doen't it.

When you're packing your things up to go home for the last time you'll be muttering, "Damn, Put Trader was right.  I was going to fail at this."

You'll think it was Raymond James--and to a degree it will have been--but mostly it will be because you're about as credible as a fart in the wind.


I doubt ANYBODY has ever said puttyndacrack "was right."


By putty's own flatulent measure, he's not credible.

Jul 15, 2005 1:49 pm

Put only you would let go Farts like the insignificant blurbs you foist on us here.

Jul 15, 2005 7:05 pm
Roger Thornhill:

Rule #1 - Begin with the end in mind.


The fact that you're asking places you at the head of the class.


You really should be asking RJ about the divorce clause. Let them
tell you what will happen. Compare what they say to the actual contract
you sign. If there are no discrepancies, then you're dealing with some
better than average people.


If they gloss over it, and omit anything important, I'd look for another place to hang my shingle.


And remember, everything is negotiable.





I was told my the recruiting manager at Morgan Stanley that I could be
liable up to $40,000  if employed for over 2 years but left before
the 3rd anniversary to join another firm like ML or SB.



But if I left b/c the job wasn't for me they wouldn't pursue the money.



HOW DOES THIS WORK AT AGE??? Do they have the same contract?