[quote=shredder]

I have come to the conclusion that we have no control over this situation and therefore we will all have to suffer and wait till next week, at least.  Time to quit speculating and try to make this a good month and for obvious reasons.  Come next week, month, quarter, whatever time frame, we can make educated decisions based upon the info in front of us. The bottom line is that we are crazy to not stick around and see what the next few months bring. 100% 50%, nothing....we'll know soon enuf.  Doesn't mean that you shouldn't at least do your due diligence.

Don't think that the #'s of "retained" brokers hasn't been baked into the Bagby pie. Read the news release again closely....WB says they figure to only lose 3% "of the advisors we want to keep". Enuf said.

[/quote]

Sorry to repeat myself.....

Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I’d get some “Inside AGE Info” from this thread. Don’t ask me where I got that stupid idea. 

[quote=Broker010]Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I'd get some "Inside AGE Info" from this thread. Don't ask me where I got that stupid idea.  [/quote]

It will ulimately be in the form of the "contract on your desk". On an encoraging note...I have heard that if you do not want to sign a contract, you will not be required to sign a contract...an interesting number of days ahead. My motto is, "Be positive, stay focused"

You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I’ve been toying with for well over a year. Good luck!

[quote=Broker010]You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I've been toying with for well over a year. Good luck! [/quote]

EXACTLY, good luck to all AGE'ers....fyi Bagby had a guard posted by his car for the last few days....got a giggle out of that. Apparently, the guard is no longer there....

[quote=Omirp222]

Good points.  I just don't see how they're going to pay for everything and still make their profit goals in the years ahead.  Something has to give, either less support and less money for FC's on the same $$ produced, more production from FC's (on same expense $$) or a combination of the 2.

According to the WS slide presentation, they have some pretty aggressive profit goals for the merged company.

[/quote]

They are looking to take AGE brokers to the next level, well most of them anyway! Through May 31 WB Securities is up low 20% area. They think they can take AGE up minimum 15% first year. Figure in the branch consolidations and there is a lot of your money. 401K and personal polies are based on the overall corporate policies. So to cut part would be to cut all 50000+ employees.

[quote=Broker010]I keep hearing all these “they had/have the retention package ready” posts that imply that the poster know what the package contains. They are full of S%*t. Either post the numbers or shut up. I admit I don’t have any inside info that every other AGE broker has. I’m looking for info, not trying to make myself look important.
[/quote]

Dude I’m sure you’re frustrating but with all these posts you honestly come off as whining a whole lot.  Put your head down and work, and you’ll get info you can count on in writing from the mother ship…

Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you’d watch your language more carefully, I promise.

[quote=Broker010]Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you’d watch your language more carefully, I promise.
[/quote]

Trust me my friend there is much that I do not know.

I did not mean my language nor my directness to offend.  Honestly.  I’m sorry.  I am sure this is stressful to you.  I was merely trying to point out that if you’re not getting the information you seek here, then it is only causing you more stress to obsess over it.

I know it probably comes across as some Zen-like Phil Jackson b.s., but whatever is going to happen will happen.  Speculating about it will not change it. The best thing you can do to get is to get your ducks in a row and have your head clear.

Look at it this way…better to be a producer with a book of business in the midst of all this than to be in middle management in home office!

Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head’s down and I’m grinding out my daily production. I’ve been looking for info that simply isn’t available yet. Understand that we’ve been told, literally as recently as two weeks ago, that our firm “is not for sale” and "committed to remaining feircely independent, so it creates a degree of anxiety. 

OK....some real information. If you haven't seen this yet, it may be informative to some.

Check out these links for 2007 Payout comparisons. I really don't think that WB will make any changes in their payout grids.

http://www.onwallstreet.com/pdfs/wachovia.pdf

http://www.onwallstreet.com/article.cfm?articleid=3558

Hopefully this information sheds some light on what to expect vs A.G. Eddies payout numbers. If you print this out and compare, you will see some major differences.

The biggest concern to AGE FC's would be to take a retention package, sign the 6 year contract, then get caught in a new payout grid as WB is paying out in 2007. That would be very discouraging to all the FC's. Right now, I am told that Bob Bagby has made the statement "payouts will be the same thru 2008", but can anyone really believe what this man tells his employees when he has already mislead all of them with we are "staying independent" then getting the shocking news that he and 6 other "outside" board members made the decision, had been discussing selling back in Nov 2006, and retaining Goldman Sachs to find a buyer. It is hard to believe anything that the present AGE CEO tells his people. Also remember, he is NOT going to be the guy running AGE. It's big Danny now. Bagby is now the puppet for WB.

Next week will be a real test of what WB thinks of the heart and soul that AGE FC's have put into the business building AGE to one of the most respected names on Wall Street. WB can NEVER compare to the tradition and integrity of the Edwards family and what they represent to so many Americans.

[quote=Broker010]Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head’s down and I’m grinding out my daily production. I’ve been looking for info that simply isn’t available yet. Understand that we’ve been told, literally as recently as two weeks ago, that our firm “is not for sale” and "committed to remaining feircely independent, so it creates a degree of anxiety. 
[/quote]

Well if you’re still grinding out daily business then trust me you’re ahead of many from what I hear.

Then next you just need to come to grips with the fact that there will be some uncertainty for a while.  There’s simply nothing you can do about it, except to clear your head of all the doubt and frustration and get the most you can get out of every day.  Make it a point to spend a little extra time playing with your kids(or your wife or girlfriend), or go beat up some golf balls.  At a time like this you need to go a little out of your way to make sure you decompress on a regular basis.l

I can only imagine what it must be like.  Frankly I think Bagby pretty much lied to you guys.  I suppose some would argue you can’t blame him for cashing out, but the Edwards family didn’t do it for over a century.  You would think Bobby boy could have resisted the quick hit.

I was there while Ben was running the shop, and remember how cool it was when at the beginning of the home office tour they paraded us all as a class of trainees right into Ben’s office to meet him and shake hands.  He had one helluva china collection up there I’ll tell you what!  IT was a cool place then.  Ben might have been a nice guy for the most part, with a good sense of humor, but when push came to shove there was no doubt how we were going to do things and who was in charge.

I also lived through the Tad disaster.  Seemed like an ok guy, but just wasn’t ready to fill his pop’s shoes and tried to hard to set himself apart as different.

Bagby was obviously different.  So were the political hacks that rode his cottails.  Even still, I would probably still be there but for some challenges I had with local management.

Good luck.

Reggin,



You’re obviously fresh of the boat.



1) A Series 7 (combined w/ a 66, etc.) is NOT a dime a dozen. Many

independent bds are hard-pressed to find someone w/ this combo. Any

fool can get a mutual fund license or advisor rep license. This combo is

valuable to Wachwards, and they WILLl pay for it / not to lose these

brokers that cost $75K to train and have AUM.



2) ETFs ARE funds. What’s your point. CAAP can be ACAT’d but no one

else can manage it, hence my point about AGE creating proprietary value.



3) BMs and top dogs are getting packages and have to sign before low

level producers are getting anything. This is Inside Info. I already said

this. The retention grid is speculation, but one of many scenarios AGE has

tossed around. I long said they will offer to pay the under $150K

producers. This is Inside Info. Accepting at this level for 6 years of

enslavement makes one a moron. The one thing they won’t lose is home

office staff. Trained monkeys are hard to untrain. AGE takes a lot of high

school grads that have no ambition and trains them w/ one skill - to push

A SINGLE KEY on a computer for 30 years, but only pay them $25K-$38K

a year.



4) What’s Burger King? Is that the restaurant that has a gay king as a logo

and the “Wake Up With the King” commercials?



I’m sorry, the only cooks I know work Babbo, Trotter’s, French Laundry.

Your clients must love dinner out on you.



I have SOME Inside Info. I never claim to know everything. This is now a

forum for anyone w/ Inside Info. 010’s BM’s suspicious behind-cloed

doors conference call is very revealing. If he really is buddy buddy with

them, he’ll have better Inside Info. than me tomorrow.

AGE_Inside_Info

I've patiently read through all of your posts, including the last one with rambling about fine Napa restaurants and have come to the conclusion that you should change your username to knownothingspeculator.

Stop posting, nothing you post has value.  Anyone else agree?

The "merger agreement has been filed with the SEC…Section 6.12 states that WB will compensate the AGE FC’s as if they were at AGE. In essence, I really don’t think that AGE FC’s should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC’s, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC’s, even though AGE will be integrated into WB. The only big question will be what’s in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC’s whose heart and soul has gone into their business’s and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC’s will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC’s, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good.

I almost forgot to let you all know what went on in the BM’s closed-door meeting Wednesday afternoon. It was a private (speakerphone) call with our region manager, who claims to be as in the dark as we are at this point. Both my BM and asst. BM are, in fact, close friends and I believe them ALWAYS. Sorry this wasn’t more.
 Obviously Inside-Info doesn’t have any. Unfortunately, neither do I nor does anyone else on this post. Good luck, guys!

[quote=Downunder]The "merger agreement has been filed with the SEC....Section 6.12 states that WB will compensate the AGE FC's as if they were at AGE. In essence, I really don't think that AGE FC's should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC's, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC's, even though AGE will be integrated into WB. The only big question will be what's in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC's whose heart and soul has gone into their business's and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC's will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC's, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good. [/quote]

Now THAT was an informative post.  Sums up what I've been thinking, but good to hear it from another.  Package comes next week.  Relax and have a drink.

Baller, I read the SEC Merger agreement, too, but didn’t give it any weight, because it has no bearing on forward-looking policy. All it is is an SEC requirement. It does not bind the party’s as to their future behavior. BUT both of your points is VERY well taken. Life is/will be good. I’m on my second drink right now. Cheers!

Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 

PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

[quote=advisor28]

Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 

PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

[/quote]

Wednesday-Thursday is more likely. I hope all the regionals put up a good fight.