Anybody going back to AGE

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Aug 13, 2009 5:24 pm

Read this article in Investment News

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090813/REG/908139987



Apparently Tad is posing a comeback, with old AGE reps..

Aug 15, 2009 1:23 am
AGEMAN:

I have heard about this, but where was Tad when he was next in line to run the company before Bagby took over?? My understanding is he didn't have the capability to run the company.





But bagby Did ? Tad would have done fine with the right board. But we had a Dufus board that bagby sold on the concept that we could not compete. We have seen that is not the case with SF stock at 50. Ron K looks like a genius now and nobody heard of him in the 90's when he wanted to sell the company.



Tad would have done well, very well. The board was looking for a big payday after relative underperformance. bags sold em. Now look.

Aug 15, 2009 2:22 pm

1st office just jumped to Tad's new place yesterday...a Missouri office

I believe.

Aug 16, 2009 4:56 pm

Springfield MO lost their top 2 producers.  One over a million, not sure where the other FA fell in production, but he was #2.


 
Now people who want to find the next AG Edwards can.  And it is with Tad.
No clue about the transition packages.  And if Tad wants to create a firm and seperate himself from the other STL firms, he can go after Presidents and Chairmans producers.
 
Aug 16, 2009 7:35 pm

I have not heard about the "buy in" but I did hear there is no signing bonus and they will consider giving you equity in the new company as a partner.

Aug 16, 2009 10:23 pm

Well, if the new firm is selective, they can become a nice fit for $500M and above producers.  Again, if they want to seperate themselves from EDJ and Stifel, that would be the route I would go.   I hear there is more top producers (AGE Legacy) on the way to the new firm.  If they get the qaulity they got in Springfield MO, they might get some traction.

Good for Tad and the Family.
Aug 16, 2009 10:44 pm

That is great I hope Tad does well!

Aug 16, 2009 11:13 pm

I am AGE legacy and can confirm that Tad is not a leader. There is no doubt that Bagby ran him out of his position, but that was only due to Tad's inability to manage and show true leadership. Once Bagby took over it was obvious that AG was on the selling block. If you review Tad's Bio you will see that his claim to fame is being a "lucky sperm". I am not faulting him for his legacy only for his inabilty to pick up the pieces after Ben left.

Aug 17, 2009 7:32 pm

Tad looks pretty good now. Say what you want about his leadership back then but if you thought  Bagby was the guy to run the show you were sold out. Tad would not have done that. Tad is older and wiser as we all are.  Look at the employee roster of his new firm and you will see some talented people that you knew in another life.

Aug 17, 2009 8:00 pm
Apollo 13:

I am AGE legacy and can confirm that Tad is not a leader. There is no doubt that Bagby ran him out of his position, but that was only due to Tad's inability to manage and show true leadership. Once Bagby took over it was obvious that AG was on the selling block. If you review Tad's Bio you will see that his claim to fame is being a "lucky sperm". I am not faulting him for his legacy only for his inabilty to pick up the pieces after Ben left.

 
I respectfully disagree.  I was a Legacy AGE and Branch Manager and he got hosed IMO.
 
Go to his company website and look at the names of who he brought over.  Qaulity people and people that made the old AGE what it was.  If he was not a good leader, these people would not sign up and the top producers of the Springfield MO office would not have taken the leap.   If you were connected to AGE, you will recognize most of these names.
http://www.benjaminfedwardsco.com/content.php?pageID=bfedwards_iv
By the way, I left AGE and went to a very, very large firm.    So no dog in this fight, except, I believe in this guy!   He needs to find his companies "sweet spot" to differentiate.  I hope he does.
 
Look around the website.  It looks surprisingly familiar
Aug 17, 2009 10:52 pm

A 13....not a leader...let me ask u...can u start a firm from scratch

and draw those types of folks....I'll ask another question...can Bagby do what Tad just did....say what u want that takes alot of perseverance

and work....good luck to the Edwards family...they are very fine people....my guess is before the yr is out they will have a half dozen branches or more

Aug 18, 2009 11:26 am

Heard you can buy equity and there is a comp pkg.  Good luck Tad!

Aug 18, 2009 12:12 pm
Tad Edwards wins regulatory approval for brokerage

St. Louis Business Journal - by Rick Desloge


A brokerage with a familiar sounding name is opening in Clayton.


Benjamin “Tad” Edwards IV launched Benjamin F. Edwards & Co. on March 17, a day after receiving an approval from the Financial Industry Regulatory Authority (FINRA), a non-governmental regulator for securities firms.


Edwards is the son of former A.G. Edwards Inc. chairman and CEO Ben Edwards III, who retired from the investment business prior to its 2007 sale to Wachovia. Tad Edwards stayed with the company until last May when he resigned.


His new business is at 10 S. Brentwood Blvd., near the corner of Brentwood and Forsyth boulevards. Joining Edwards are at least three others: Cindy Becker, Allen Cole and Kurt Longworth.


Becker formerly worked for Edward Jones and, in years prior, worked for A.G. Edwards. Cole was with Wachovia in St. Louis until last October, and Longworth was with A.G. Edwards until March 2007, FINRA records show.


“There will be additional people,” Edwards said. He declined to elaborate on the new venture, in part because it awaits approvals from other regulators, including the Missouri Division of Securities. A spokesperson for the division of securities could not be reached for comment.


Missouri Secretary of State records show Benjamin F. Edwards Co. Inc. applied for recognition as a new corporation Aug. 19, 2008, and filed an annual report with the secretary of state’s office Nov. 25, 2008. The annual report lists Edwards, Becker and Longworth as directors and officers.


Benjamin F. Edwards & Co.’s Web site lists eight additional positions that it expects to fill once it receives all its necessary licenses



 
 
 
 
 
 




Tad Edwards, principal of Benjamin F. Edwards & Co. View Larger



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Aug 18, 2009 12:47 pm
AGEMAN:

I had heard they were actually asking people to pay to join them.  To buy into the firm--I guess to help get it going.  Can anyone confirm if this is true.  I was told this by a 25 year AGE vet who went to a meeting about Tad's firm.

 
There are a few pretty pretty big wealth management firms (teams that have broken away from Merrill and a few others recently) that are using this strategy.  Old-school partnerships.  I think it's a great idea.  Nothing says "buy-in" like ownership.
Aug 22, 2009 12:19 am

I heard he was going to open an office in California but had bigger fish to fry in New York. A quick look at the website shows Bill Forrester as a regional manager. He grew and ran the biggest office in the firm. Nice hire Tad.

Aug 22, 2009 12:26 am

It was a shame to see A.G. Edwards go. I hope the best for Tad.

Aug 27, 2009 5:46 am

Any word on plans for Texas?  I have been miserable for the last two years, and now it feels like I can finally go home.  I hired in under Ben, and was honored to know both him and Tad.  I would pay in a hearbeat to work for Benjamin F Edwards.

Aug 27, 2009 10:57 am

Call 314-726-1600 and talk to Tad, Marty Altenberger or Kurt Longworth.  You'll be happy you did.  Go sit with them in St. Louis.  You'll swear you were back at AGE!

Aug 27, 2009 6:31 pm

A.G Edward reps did get screwed and they do deserve a chance to get away from that piece of $#!T firm that bought them.

 
Good Luck  
Aug 27, 2009 6:32 pm

Thanks - I called today.  My T12 isn't quite enough by myself, but I spent the afternoon calling my friends to try to get a group together.  We are in North Dallas if anyone wants to join in our branch.