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Jun 12, 2007 9:07 pm

This much is known:


FCs will be offered their choice of two packages.  Choice #1 pays all cash at once, forgivable over six years in equal "forgiveness" installments, and FC signs a non-compete contract sometime between now and several months from now.  If desired, FCs can share payout with FAs. Choice #2 pays the same sum, but in equal installments over six years, without a contract.  Obviously, FC must continue employment to get paid.  Any FA payouts will be made over six years.  Those with less than five years of experience will be paid based on their production relative to rookie benchmarks.  All payouts will be based on production from the fiscal year that ended on 2-28.


Not known is the percentage of FY production that will be paid in cash at any given production level.  Some of payout may be in stock.


We'll get the rest of the details on Thursday.


Although I am a relatively new poster, you'll just have to trust me on this one. 


Jun 12, 2007 9:36 pm

any idea on % payouts?

Jun 12, 2007 9:38 pm

sorry...just read full post. Ignore previous

Jun 12, 2007 9:39 pm

Are you kidding, that would be WAY too pertinent.

Jun 12, 2007 9:47 pm

5 years not 6.

Jun 12, 2007 9:52 pm

Ferris nailed it, plus...he's getting me out of Summer School.

Jun 12, 2007 10:00 pm

if the %'s are as high as people hope, it will be 6 yrs.

Jun 12, 2007 10:00 pm

Six.

Jun 12, 2007 10:05 pm

I got it. They will offer us a retention package worth anywhere between 0-100%(or more, but probably not less) of our Fiscal Year 2007 production, paid over our choice of either 0 or 6 years, or maybe 5. Thanks for the omnipotent insight.

Jun 12, 2007 10:06 pm

another big questions i what happens to your payout after Feb 2008. WB system, AGE or some hybrid?? Tix charges ,what else??? Should be an intersting end of week.

Jun 12, 2007 10:08 pm

Not five.  Six.


Every FC gets something except, possibly, the under-five-year FCs who are underperforming.  Hope that's not you.


Jun 12, 2007 10:08 pm
Broker010:

I got it. They will offer us a retention package worth anywhere between 0-100%(or more, but probably not less) of our Fiscal Year 2007 production, paid over our choice of either 0 or 6 years, or maybe 5. Thanks for the omnipotent insight.


That's what u get looking for answers here. 

Jun 12, 2007 10:11 pm

Wachovia FCs also will receive a smaller package, likely via deferred comp.

Jun 12, 2007 10:13 pm

As I've admitted before; I'm an information junkie. If there's nothing real to be had, I will seek out the imaginary, call it a character flaw.

Jun 12, 2007 10:17 pm

Have heard the T12 will be based on FY 07 info earlier and a little disappionted it isn't a straight T12....

Jun 12, 2007 10:19 pm

Take heart! All any of us has heard has come from those with no more knowledge than ourselves. In fact, I'm waiting for my new user-name to be activated to that I can start agitating as a Newbie, just for fun. Be warned.

Jun 12, 2007 10:22 pm

You would think they would base it on June 2006 through May 2007 (when the sell-out, er, "merger" was announced).  My true T12 is quite a bit greater than last FY's production.  Disappointed.

Jun 12, 2007 10:23 pm

All of this info was known on last Thursday after BM's had their conference call. My question is WTF they told us we'd have answers early next week (as of last thursday) and here it is Tuesday night and we're in the m'fing dark. I'm an FC in year 4 and am way above averages for new fc's. Am I going to see a deal or does my 60AUM go elsewhere.

Jun 12, 2007 10:23 pm
FL Broker:

You would think they would base it on June 2006 through May 2007 (when the sell-out, er, "merger" was announced).  My true T12 is quite a bit greater than last FY's production.  Disappointed.



same boat...NOT HAPPY if accurate but we'll know soon. Could be 1st trial ballon

Jun 12, 2007 10:25 pm
Brokermike99:

All of this info was known on last Thursday after BM's had their conference call. My question is WTF they told us we'd have answers early next week (as of last thursday) and here it is Tuesday night and we're in the m'fing dark. I'm an FC in year 4 and am way above averages for new fc's. Am I going to see a deal or does my 60AUM go elsewhere.


U r their perfect young broker, you'll be fine.