AGE Inside Information
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Insider, It’s my understanding that these retention offers are usually forgivable loans (the upfront part, at least) If you leave, you repay the pro-rated portion. Even if there’s a no-compete clause, brokerages pay these contract off every day to hire desirable broker from competitors.
[quote=AGE_Inside_Info] I’ve been making my clients
8-25 percent with very low risk. I have a strategy that has gotten
numerous people 15 percent in 8 months, with little risk short of another
9/11.[/quote]
Are you selling cash-covered puts? Buying catastrophe bonds/reinsurance side cars? What is it?
Inside_Info., Are you mplying by your last post that your “inside info” confirms the retention package that’s been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info…that I don’t already have as an AGE broker. I look forward to your explaination.
I don’t think anyone likes Bagby at this point certainly not me. If Inside has better info I would like to hear, and I guess we will see how close the home office leak is.
28, Outside shareholders sure like Bagby. From their perspective, he’s been an absolute genius studd.
On the bright side, he made my restricted stock double in value over the past year.
A $billion only equates into 150k per FC (6700 fc's).
Even if you take out the top produces and the bottom producers and do some simple math, the median producer will probably only see 150k over 6 year period (25k/year). If the bottom is weighted (200-300k producers) either the top 15% won't get much more or the bottom aren't getting even close to 150k.
Looks like a "sale" to me. Mark up the price (150k over 6 years) wait until 2008 then cut the grids by 25k/year. They get all the FC's under contract (even better with a forgivable loan senerio), they retain assets, and their profit soars in a few years.
Let's not forget the (company optional) 7.5% of gross to 401k's AGE chipped in last year. Let me see, 0.075 x 350,000 = $26,250. Hmm that number is familiar, isn't it?
vesting of stock only vests 100% on a “hostile takeover” which this is NOT. Our restricted stock/options do NOT automatically vest.
fyi -let’s see if Insider has any good contacts…deal out soon…you should recieve the retention pkg no later thatn Mon/Tues. Have not heard #'s.
Re; Vesting: My source is the Wall Street Journal, in an article dated 06/01/2007, and I quote, " the deal will allow its managers and directors to cash out millions of dollars in stock and options. At $89.50" If I’m mis-reading this, please forgive me, I’ just a dumb salesman.
[quote=Broker010]Re; Vesting: My source is the Wall Street Journal, in an article dated 06/01/2007, and I quote, " the deal will allow its managers and directors to cash out millions of dollars in stock and options. At $89.50" If I’m mis-reading this, please forgive me, I’ just a dumb salesman.
[/quote]
I tend to think you’re right. Usually the triggering event for accelerated vesting for any common stock is a change in control that can be measured objectively. A “hostile takeover” is something which would generally be too subjective to put into a contract like that.
Agree w/ Omirp222!
Does anyone know that AGE allegedly spends $75K to train each broker.
They are not going to just let under $150K producers walk, w/or w/o pay.
But, all of AGE’s proprietary fee-based programs (some at 2.25 percent
for funds)…some soooo proprietary that no one else has anything like
them…were designed to retain assets.
While AGE monkeys in the training dept. only know A-shares of Capital
Income Builder and Bond Fund of America, AGE branches and greedy
producing BMs have been pushing proprietary fee-based programs like
crazy.
BTW, Inside-Info. has a job. Won’t have time to get good inside info.
tomorrow unless it is texted to me.
For AGE brokers, want Inside Info., just read your BM’smail and faxes.
BMs are getting retention packages first
[quote=AGE_Inside_Info] Agree w/ Omirp222!
Does anyone know that AGE allegedly spends $75K to train each broker.
They are not going to just let under $150K producers walk, w/or w/o pay.
[/quote]
AGE spent that money, not Wachovia. Now all they have is a series 7
producer. So what.
[QUOTE]
But, all of AGE’s proprietary fee-based programs (some at 2.25 percent
for funds)…some soooo proprietary that no one else has anything like
them…were designed to retain assets.
[/quote]
Like the CAAP program? The assets inside those accounts are ETF’s.
Those ACAT away real easy.
[QUOTE]
BTW, Inside-Info. has a job. Won’t have time to get good inside info.
tomorrow unless it is texted to me.[/quote]
And I’m sure you’ll be the best dressed fry cook at Burger King. And
contrary to your statement, you’ve NEVER been able to get good inside
info. Everything you’ve posted is common knowledge mixed with some
bad guesses.
Re: BM’s getting retention offers first…Yesterday at 4:00 My BM & assistant BM locked themselves in the BM’s office for a conference call. This is VERY non-typical behavior for them. These are NOT the conference-call-joiner type unless it’s VERY important. I did not see any info about any scheduled conference call anywhere on our system for the rest of us. Read into this whatever you want, but I know what I’m reading it as. These guys are both friends of mine and I’ll see what I can find out.
[quote=AGE_Inside_Info]
While AGE monkeys in the training dept. only know A-shares of Capital
Income Builder and Bond Fund of America, AGE branches and greedy
producing BMs have been pushing proprietary fee-based programs like
crazy.
[/quote]
funny you mention that inside_info, although it is far from inside information – just like all the other bits of gossip material you have provided on this forum. to repeat other replys, you obviously have no inside info
this excerpt from watch over ya’s guide to investing in MFs (wachovia.com/files/GuideToMutualFund0305.pdf) has a paragraph on their annual push to sell their own funds (Evergreen, JennisonDryden, Strategic Partners and Worldwide Investors).
"During the course of annual business planning, business with our affiliates is included in establishing our sales goals. We intend, however, to make all recommendations independent of any such goals and based solely on our obligations to consider the clients’ objectives and needs."
to an age broker that has never had to push proprietary products- this is comical
[quote=dontask] [quote=AGE_Inside_Info]
While AGE monkeys in the training dept. only know A-shares of Capital
Income Builder and Bond Fund of America, AGE branches and greedy
producing BMs have been pushing proprietary fee-based programs like
crazy.
[/quote]
funny you mention that inside_info, although it is far from inside information -- just like all the other bits of gossip material you have provided on this forum. to repeat other replys, you obviously have no inside info
this excerpt from watch over ya's guide to investing in MFs (wachovia.com/files/GuideToMutualFund0305.pdf) has a paragraph on their annual push to sell their own funds (Evergreen, JennisonDryden, Strategic Partners and Worldwide Investors).
"During the course of annual business planning, business with our affiliates is included in establishing our sales goals. We intend, however, to make all recommendations independent of any such goals and based solely on our obligations to consider the clients’ objectives and needs."
to an age broker that has never had to push proprietary products- this is comical
[/quote]
What's your name?