Team issues...advice

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Apr 14, 2007 2:06 am

Moved cities because a team that has done well for itself in the company offered me assets to work on. The assets came to me in Jan and the goal, per team leader: "we never have time to service these clients with the respect they deserve, we would like you to build on the relationships and we'll give you a 50/50 split."


3 months in, the assets are being moved from our shared number to another broker in the office. This broker, 12 yrs exp, is known as THE churner. When I inquired about the moving assets (now nearly half the assets handed over) the response was:


"Given his experience and success with the little assets we've given broker B in the last two weeks, he has done really well selling them out of everything so we're giving him more."


I am angry about this beyond belief and feel it is now time to cut the chord but am working hard to let it go and not be bitter about it. Afterall, the assets were never mine. I wish they would have decided then that they did not want to spend time training me and work with someone who could churn out the accounts faster (so much for building relationships) before I switched cities.


It's funny, I have learned one thing from this: it's obvious they're desperate for the little commission they recieved by going this route that their book is dried up and broker B of 12 yrs must be dried up as well.


You guys were right, prospecting is everything. Fortunate for me, I've already tallied north of 2MM of new assets and am 10k short of hitting my production quota.


Apr 14, 2007 2:12 am
anabuhabkuss:

Moved cities because a team that has done well for itself in the company offered me assets to work on. The assets came to me in Jan and the goal, per team leader: "we never have time to service these clients with the respect they deserve, we would like you to build on the relationships and we'll give you a 50/50 split."


3 months in, the assets are being moved from our shared number to another broker in the office. This broker, 12 yrs exp, is known as THE churner. When I inquired about the moving assets (now nearly half the assets handed over) the response was:


"Given his experience and success with the little assets we've given broker B in the last two weeks, he has done really well selling them out of everything so we're giving him more."


I am angry about this beyond belief and feel it is now time to cut the chord but am working hard to let it go and not be bitter about it. Afterall, the assets were never mine. I wish they would have decided then that they did not want to spend time training me and work with someone who could churn out the accounts faster (so much for building relationships) before I switched cities.


It's funny, I have learned one thing from this: it's obvious they're desperate for the little commission they recieved by going this route that their book is dried up and broker B of 12 yrs must be dried up as well.


You guys were right, prospecting is everything. Fortunate for me, I've already tallied north of 2MM of new assets and am 10k short of hitting my production quota.




Didn't we caution about making the move to the new town for this sucker's deal or was that someone else? It's kind of like how the banks lure people in with promises of referrals from the tellers and janitors. If you're gonna be in this industry, you will always be building a business. Either yours or someone elses.

Apr 14, 2007 1:32 pm

I am sorry to hear what happened.  There is no joy in being right.

What advice do you seek?  I don't see a question in your post...

Apr 15, 2007 1:03 am
joedabrkr:

I am sorry to hear what happened.  There is no joy in being right.

What advice do you seek?  I don't see a question in your post...





The main lesson is never trust people with a money internest in your sucess that you don't control.



This sort of office is going to go down the tubes, since churning over
old accounts will eventually lead to ACAT's and arbitration.



Far better to build up a greenfields business.

Apr 17, 2007 12:34 am

bom got the email asking him to transfer assets and blew. i told him not to bother stopping the transfer and to terminate contract. team leader then called me on my way to a meeting and gave me a lamer excuse than his partner mentoring me for the reason of the transfer behind my back...


"you're out of office a lot and these people call in requiring servicing."


im gone 2 days a month traveling other cities closing business and when I am in office, I'm in 60 hrs and these clients are NOT calling in. ironically, the broker they're being transfered to spends 9-3 business hrs.


guess i really wasn't looking for a particular question answered. just wanted to vent. 


I nearly hung the phone on him but told him I'd go over my concerns when I get back. apparently he still wants me to work assets that are left over.


Apr 17, 2007 12:45 am

Man you need a few drinks and vacation. I am even reading your post as though you were the guy standing next to Custer.


Cheer up 

Apr 17, 2007 2:23 am
anabuhabkuss:

bom got the email asking him to transfer assets and blew. i told him not to bother stopping the transfer and to terminate contract. team leader then called me on my way to a meeting and gave me a lamer excuse than his partner mentoring me for the reason of the transfer behind my back...


"you're out of office a lot and these people call in requiring servicing."


im gone 2 days a month traveling other cities closing business and when I am in office, I'm in 60 hrs and these clients are NOT calling in. ironically, the broker they're being transfered to spends 9-3 business hrs.


guess i really wasn't looking for a particular question answered. just wanted to vent. 


I nearly hung the phone on him but told him I'd go over my concerns when I get back. apparently he still wants me to work assets that are left over.




Look I'm sorry to see that it worked out the way it did.....but at least learn from it.  Regrettably there is a lot of money at stake in this business, and you have to be very careful who you trust.  If  a deal seems to be too good, it probably is!