ACAT'ing AGE Bank Deposit Program

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Dec 14, 2008 1:40 pm

For those Legacy AGE reps who left WS recently, what do you need to do to acat the wonderful AGE Bank Deposit sweep program to your new firm? I assume it has to be liquidated, but by who (back office, client, Bob Bagby?).

 
Can you believe that POS is paying something like .18%?
 
Thanks!
Dec 14, 2008 4:42 pm

Don't have to do anything special. Transfer the account and bank deposit comes over as cash.

Dec 14, 2008 5:03 pm

I think the problem is me - I probably wasn't reading the account screen properly. Funny how you get used to looking at the AG Edwards system for 8 years and something different looks like Greek.

 
By the way, if you are leaving and your old buddies claim they won't call your clients, see if they are crossing their fingers.
Dec 14, 2008 5:10 pm

My old buddies will go with me.

Dec 14, 2008 5:16 pm

Good because I've found given the opportunity they'll stab you in the back. Greed versus the Golden Rule, what an epic battle!

Dec 14, 2008 5:32 pm

What firm did you join and when did you leave? I am also use to looking at the AGE stuff but will get greek in a hurry come Feb conversion.

Dec 14, 2008 6:33 pm

So are you still at WS? I assumed you left.

Dec 14, 2008 7:05 pm

GG, I happen to know for a fact that the afternoon I left AGE, my manager called his regional and got specific instructions to call an immediate meeting, instruction remaining brokers that they would have their "new" accounts in Broker Vision in the morning (front office help work overtime that evening) and that, come  8:00 the next morning, that those brokers (who were and are, my friends) WOULD be on the phone to every single one of those accounts and to specifically tell the clients that I had left the firm, thast they were tjeir new broker and that they had no idea where I went or what my future plans were (i.e., didn't know if I'd left the business). These were EXPLICIT instructions and orders given to those remaing brokers. There was no Greed or Friendship involved. It was a case of following DIRECT, SPECIFIC orders. none of this is unexpected, exept the bold-faced lying that they were orderred to do. Now, maybe I'm naive and old-fashioned, but I believe that they could have done the same job without intentionally, proactively lying to my clients (everyone in the branch new for a fact that I was with LPL).
 Short story long, if you leave, WB/AGE WILL NOT play nicely.

Dec 14, 2008 8:09 pm
YHWY:

GG, I happen to know for a fact that the afternoon I left AGE, my manager called his regional and got specific instructions to call an immediate meeting, instruction remaining brokers that they would have their "new" accounts in Broker Vision in the morning (front office help work overtime that evening) and that, come  8:00 the next morning, that those brokers (who were and are, my friends) WOULD be on the phone to every single one of those accounts and to specifically tell the clients that I had left the firm, thast they were tjeir new broker and that they had no idea where I went or what my future plans were (i.e., didn't know if I'd left the business). These were EXPLICIT instructions and orders given to those remaing brokers. There was no Greed or Friendship involved. It was a case of following DIRECT, SPECIFIC orders. none of this is unexpected, exept the bold-faced lying that they were orderred to do. Now, maybe I'm naive and old-fashioned, but I believe that they could have done the same job without intentionally, proactively lying to my clients (everyone in the branch new for a fact that I was with LPL).
 Short story long, if you leave, WB/AGE WILL NOT play nicely.



I guess low producers FOLLOW ORDERS!!! ROFLMAO!!! I know most larger at WS do their own thing, when someone tells them to DO SOMETHING they just act contrary!

Dec 14, 2008 8:11 pm

Yeah, most of those folks were $250-350 people.

Dec 14, 2008 9:15 pm
Gordon Gekko:

So are you still at WS? I assumed you left.

 
I am AGE from wayback and still here.
Dec 14, 2008 9:53 pm

Gordon where did you go?

Dec 16, 2008 9:00 pm

Gordon,

Where did you go?
Dec 16, 2008 9:19 pm

Gordon...Gordon.GOOOOOOOOOOOOOOORRRRRRRRRRDOOOOOOOOOOOOON

Dec 16, 2008 10:58 pm
nestegg:

Gordon...Gordon.GOOOOOOOOOOOOOOORRRRRRRRRRDOOOOOOOOOOOOON

 
(slow pan of Bambi's father walking out through the swirling smoke. music wells, and then recedes. quick cut to Nestegg blinking back tears of fear and confusion, then back to Bambi's father standing proudly.  he speaks.)
 
"Nestegg, Gordon can't help you anymore.  You'll have to learn for yourself, now.  Come, follow me..."
 
(music wells loudly, followed by credits listing Thumper, played by Danny Ludeman, and Flower the Skunk, played by Bob Bagby.)
Dec 16, 2008 11:00 pm
2wheeledbeemer:
nestegg:

Gordon...Gordon.GOOOOOOOOOOOOOOORRRRRRRRRRDOOOOOOOOOOOOON

 
(slow pan of Bambi's father walking out through the swirling smoke. music wells, and then recedes. quick cut to Nestegg blinking back tears of fear and confusion, then back to Bambi's father standing proudly.  he speaks.)
 
"Nestegg, Gordon can't help you anymore.  You'll have to learn for yourself, now.  Come, follow me..."
 
(music wells loudly, followed by credits listing Thumper, played by Danny Ludeman, and Flower the Skunk, played by Bob Bagby.)



LMAO!!!!