AG Edwards/Wachovia, offers on the table

or Register to post new content in the forum

11 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jul 8, 2007 10:38 pm

I began shopping the day the merger was announced.  Felt betrayed, and thought it was a great opportunity.  Did a lot of research, narrowed it down to a handful of larger firms, but now cannot make up my mind.  Money is great, and I think the clients will move, but am I acting prematurely?  Heard about bad technology at MS, bad compliance situations at UBS, bad payout at SB.  ML is offering the most cash, but not sure want to drink that kool-aid.  Feel that I can't trust the brass at AGE/WB any longer.  If they do it once, it makes it easier to do it again. 


Anybody feel in the same boat?  I am not letting my feeling of betrayal die down, but only want to make a move once.



BTW, all firms are offering at least 100% upfront, more if you ask.  Depending on situation, most are meeting/beating each other's offers. If you are negotiating, you are in a good spot.


Jul 8, 2007 10:58 pm

And there isn't one or two indy firms on your list of contenders?

Man....you really are a glutton for punishment.  If you feel betrayed by AGE management and you're taking a big check to become an indentured servant for 5-9 years....and not even considering all the options.

Jul 8, 2007 11:12 pm

I am feeling betrayed also, but not letting that cloud my
judgement.  Lots of offers,  MS was the best at 200%, but am
going to give WS a chance to prove themselves first.  Want to have
an exit strategy if WS proves to be intolerable.  Many clients
have asked me to take them with me if I move.  I was flattered
that they brought up the idea of following me. 



The indy route is interesting also given what I have read on this board
and a few friends who have done it and are very happy with the
move.  I still think that when all the dust settles that a
siginificant portion of the AGE reps will depart. 

Jul 8, 2007 11:17 pm
illinoisrep:



The indy route is interesting also given what I have read on this board
and a few friends who have done it and are very happy with the
move.  I still think that when all the dust settles that a
siginificant portion of the AGE reps will depart. 



Me too, and not just RR's but qualified home office personnel.  STL is turning into quite the regional money center, and there are many smaller firms out there that are going to be happy to hire disgruntled home office folks.

Jul 8, 2007 11:27 pm
joedabrkr:

And there isn't one or two indy firms on your list of contenders?

Man....you really are a glutton for punishment.  If you feel betrayed by AGE management and you're taking a big check to become an indentured servant for 5-9 years....and not even considering all the options.


How about it. If you are not a Kool Aid drinker, why would you suit up for somebody else?

Jul 8, 2007 11:41 pm
GolFA:
joedabrkr:

And there isn't one or two indy firms on your list of contenders?

Man....you really are a glutton for punishment.  If you feel betrayed by AGE management and you're taking a big check to become an indentured servant for 5-9 years....and not even considering all the options.


How about it. If you are not a Kool Aid drinker, why would you suit up for somebody else?



I'm not sure I understand what you mean by that....

Jul 9, 2007 8:22 am

I think he's saying - go indy.



Jul 9, 2007 8:28 am

OK we all feel betrayed. Finish licking the wound and deal with what you've got to work with. I'm excited about the possibilities moving forward with the merger - in the meantime - with all my optimism I've kept an open line of communication with every firm out there. Well, not every, I didnt return the call from H&R Block. In my opinion if a move need be made then Indy is the only way to go.   

Jul 9, 2007 9:41 am
Bache&co:

OK we all feel betrayed. Finish licking the wound and deal with what you've got to work with. I'm excited about the possibilities moving forward with the merger - in the meantime - with all my optimism I've kept an open line of communication with every firm out there. Well, not every, I didnt return the call from H&R Block. In my opinion if a move need be made then Indy is the only way to go.   




I think you've got the right attitutude, and I'm not necessarily referring to the part about Indy being the way to go.  It's more the idea that you're facing a complicated situation that can be charged with emotion, and that the best thing to do is calm down, assess all options, and deal objectively with 'what is'.  Whether Bagby sold you guys down the river or not is now MOOT, it is 'what is'.  Now the power is in your hands as to how you respond to it-in a manner that is best for you and your family.

Jul 9, 2007 10:19 am

Go Indy.  MS technology has imporved greatly in the last 2 years.  Although, nowhere to go but up.

Jul 9, 2007 7:36 pm

The best/funniest yet was from 2 jones recruiters and a local broker.  They have no clue and besides some rookies, couldn't see anyone going there.  I've got 4 former jones reps in my office, so I had some fun with the recruiter.

All other options very good, especially the indy option.