Any input on wachovia?

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Jun 27, 2006 10:21 am

Looking at the indy side. any thought good bad ugly?

Jun 27, 2006 11:11 am

Good-you get their technology that they've developed for the bank and wire-channel folks, and also access to their trading desks and technology, and investment banking deals

Bad-if business gets tough and you're only giving up 10-15% of your revenue to the mother ship while they earn 50-65  % 'gross margins' on the other two channels, who do you think is going to get more attention?  They also have a little more control over how you run your business than other indy's-it's the wirehouse/bank mentality I think.

If their program was so good, how come they're having such a hard time bringing new folks on board compared to RayJay and LPL?

Jun 27, 2006 11:16 am

In my opinion they are not indy!  

Jun 27, 2006 11:21 am
Greenbacks:

In my opinion they are not indy!  



Pretty much the same feeling I had.....

Jun 27, 2006 11:34 am

I've found that the payout structure is reevaluated monthly.  Frankly, I'd like to know how much I am getting paid consistently.

Jun 27, 2006 11:49 am
BrokerRecruit:

I've found that the payout structure is reevaluated monthly.


Wow...sounds like my old bank...and each new compensation plan meant a little less in my pocket...is there a pattern here?!!


I've heard Wachovia's platform referred to as pseudo-indy, which in my mind means not independent at all...kind of like being a little pregnant...

Jun 27, 2006 12:12 pm
BrokerRecruit:

I've found that the payout structure is reevaluated monthly.  Frankly, I'd like to know how much I am getting paid consistently.



This has been an issue that goes back to the days when Wachovia bought Wheat First Butcher Singer and started fiddling with their "profit plus" semi-indy platform, or whatever it was called....

It's a matter of mindset...wirehouse and bank managements don't generally 'get it' when it comes to running an indy program.  They're too tempted to stick their fingers more deeply into the honey jar.

Jun 27, 2006 6:33 pm
joedabrkr:

Good-you get their technology that they've developed for the bank and wire-channel folks, and also access to their trading desks and technology, and investment banking deals

Bad-if business gets tough and you're only giving up 10-15% of your revenue to the mother ship while they earn 50-65  % 'gross margins' on the other two channels, who do you think is going to get more attention?  They also have a little more control over how you run your business than other indy's-it's the wirehouse/bank mentality I think.

If their program was so good, how come they're having such a hard time bringing new folks on board compared to RayJay and LPL?


RayJay is kicking butt by the way. Just see the last issue of RR

Jun 27, 2006 7:53 pm

Ray Jay- But how long will Ray Jay be Ray Jay? Article makes an interest

case about their future existence or lack thereof.