500 or bust?
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Just heard from the Finet representative that if the bank can see total relationship then at Finet it will be no different, So much for being independentYes, Redpen, it is true that Wachovia bank tellers can see ALL of your clients assets held at Wachovia Securities. I have also been told that WS brokers can go to a Wachovia bank branch to cash a check and if you give the teller your social security number for verifiication, they can see all of YOUR assets (even if you do not have a Wachovia bank account). I intend to test this to see if it’s true.
That's how banks work.. If you sell mortgages they want you to do investments, if you open checking accounts they want you to sell mortgages, if you sell investments they want you to open checking and mortgage accounts.. By the way personal bankers are allowed to call anybody in their system for anything(great way of getting around the DNC).. Use to work at JPM and accounts that were assigned to our branch we could call(some of the people had a checking account and were part of the HNW group).. stupid... people get real madI don’t think this went out so I am trying again. My client in Oregon went to his normal Wells Bank Branch. He asked about the mortgage rates advertised in the branch. The teller said " oh I see you have 450,000 with us " He said I wish. It is more like 50,000. She said , you have other relationships with the bank somewhere that total 450,000. She could see the total the guy has with me. Clients will not like this and I do not this, at all. WB/WFC guys is this true ? Can the bank see my client…my client…my…clients’ asset value. I await response.
will be interesting to see if it ends up the same at MER/BAC. I know most high networth customers will move there accounts if they think some local teller who might be the spouse of one of their employees, a neighbor etc, would have access to there brokerage account balances. Privacy is as important to these people as results in many cases. I have to beleive there is something in your system to block this info sharing.Yes, Redpen, it is true that Wachovia bank tellers can see ALL of your clients assets held at Wachovia Securities. I have also been told that WS brokers can go to a Wachovia bank branch to cash a check and if you give the teller your social security number for verifiication, they can see all of YOUR assets (even if you do not have a Wachovia bank account). I intend to test this to see if it’s true.
[quote=Ferris Bueller] [quote=Sam Houston] [quote=Apollo 13]Hey Godfather nemisis. I wonder how you were able to change my original post in your reply. It’s Alibastar, Kansas not Podunk, Iowa. And by the way Alibastar, Kansas what goes around comes around.[/quote]
New nominee for dbag of the year.[/quote]
Why, are you giving up the title?[/quote] You've been the undisputed king of dbags for so long I thought I would put someone else up for the distinction. Sorry to have offended you King Ferris of Dbag.
[quote=Ferris Bueller] [quote=Sam Houston] [quote=Ferris Bueller] [quote=Sam Houston] [quote=Apollo 13]Hey Godfather nemisis. I wonder how you were able to change my original post in your reply. It’s Alibastar, Kansas not Podunk, Iowa. And by the way Alibastar, Kansas what goes around comes around.[/quote]
New nominee for dbag of the year.[/quote] Why, are you giving up the title?[/quote]
You've been the undisputed king of dbags for so long I thought I would put someone else up for the distinction. Sorry to have offended you King Ferris of Dbag.[/quote]
I own you, you little bitch. Knew you would come crawling out of under your rock.[/quote] You amuse me.
[quote=Sam Houston][quote=Ferris Bueller] [quote=Sam Houston] [quote=Ferris Bueller] [quote=Sam Houston] [quote=Apollo 13]Hey Godfather nemisis. I wonder how you were able to change my original post in your reply. It’s Alibastar, Kansas not Podunk, Iowa. And by the way Alibastar, Kansas what goes around comes around.[/quote]
New nominee for dbag of the year.[/quote] Why, are you giving up the title?[/quote]
You've been the undisputed king of dbags for so long I thought I would put someone else up for the distinction. Sorry to have offended you King Ferris of Dbag.[/quote]
I own you, you little bitch. Knew you would come crawling out of under your rock.[/quote] You amuse me.[/quote]
Hello, Primo.
Hello Bobby. Nothing going on over at your site? RegReps appreciates your contribution to their ad rates.
[quote=Sam Houston]I’m just responding to my two interwed stalkers.[/quote]
interwed?
Are they married?
little Siamese Douchebags?Imagine what their kids will look like? Geeezzzzz
Hey Ferris, when you get that coin, remember to snap that 9 year hand cuff on nice and tight.
And it doesn’t matter that you leave info out off your plans. WFC will eventually spread their tentacles throughout your entire book. Thats how banks roll.
Well I can honestly say that I won’t have to worry about it anymore. I am officially at RJFS. Bye FINET. Good lick to all of you. Got too tired of the bank mentality trying to run a brokerage firm. If anything can go wrong it will with that kind of management. No more tying to sell us on the idea it’s a good thing. Thanks DL.
Ferris,
You are a clown. You seem very opinionated and suffer from a lack of self esteem since you feel compelled to share so much about yourself on an internet forum. A 5 minute search will reveal you are a non-college grad, $800k producer, $400k package, drive an M5 worth $90k and former AGE and would consider elaving after one year of getting your money. Why is is that successful people aren't the quickest of cats?Are you saying you left Finet to go to RJFS...What were the two or three things you think are going to be better ?Well I can honestly say that I won’t have to worry about it anymore. I am officially at RJFS. Bye FINET. Good lick to all of you. Got too tired of the bank mentality trying to run a brokerage firm. If anything can go wrong it will with that kind of management. No more tying to sell us on the idea it’s a good thing. Thanks DL.
[quote=Moss]Ferris,
You are a clown. You seem very opinionated and suffer from a lack of self esteem since you feel compelled to share so much about yourself on an internet forum. A 5 minute search will reveal you are a non-college grad, $800k producer, $400k package, drive an M5 worth $90k and former AGE and would consider elaving after one year of getting your money. Why is is that successful people aren't the quickest of cats? [/quote] I usally don't respond to these type of posts but this one stuck me as class warfare and has no place here. Moss, what am I missing ?The misinformation on this forum is amazing. As an FA with ISG, I can confirm that the bank employees CANNOT see clients assets held in a Wachovia Securities brokerage account. They can see that the client has a brokerage account, but they can’t see what’s in it or how much is in it. In fact, the only people who can see what’s in a brokerage account are the actual FA assigned to that account and his s/a. Other FAs can’t even see what’s in the account unless it’s their account. Whoever it was that said a teller could see a client’s securities account was total B.S. Now, on the flip side, FAs can see all the clients’ bank assets - deposits, CDs, loan balances, etc. So, we are the ones that benefit, not the bank employees.
Additionally, I can also confirm that WE control the Envision plan. If you don’t want to list specific assets, don’t. If the client has assets held outside the firm and you don’t want the bank to know about them - then don’t include them, it’s that simple. The firm says you have to run an Envision Plan and the client has to be aware that you are doing one. The only people who are going to know how accurate a plan is are you and the client.