Aretha Franklin - respect for my friends at MER

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Dec 2, 2008 7:20 pm

Amongst those who are/may be  leaving, there are a FAs in my office who have formed an informal pact.  If you leave , I will call your clients and wish them well with you.   Some received the retention some didn't.  My collegues have worked hard.  Their clients are their clients. I do not need distributions to make me better or richer.  They should do what is right for themselves and their families.  It is a incredible act of integrity.  I am proud to be a part of it.  

Dec 2, 2008 7:35 pm

I have adopted that approach of late. I think in the long run it's the way to go. I would guess north of 50% of this board disagrees with us though and will voice their rebuttals momentarily. The Golden Rule apparently doesn't always apply in the brokerage biz.

Dec 2, 2008 8:31 pm

I've always done it this way.  Ya know, actually, by treating people "right" i've found that I have done better.  Sometimes when a departing FA leaves and a few of their clients don't go, they refer them to me because I didn't try to screw 'em. 

Dec 2, 2008 8:35 pm

Oh, and to the original post.  My office is doing the same thing.  There are groups of people conspiring with the people planning on leaving to take "care" of them.  It seems that everybody wants to f$$k over Mother Merrill- no loyalty anywhere in the firm.

Dec 2, 2008 8:40 pm
Phan2om:

Oh, and to the original post.  My office is doing the same thing.  There are groups of people conspiring with the people planning on leaving to take "care" of them.  It seems that everybody wants to f$$k over Mother Merrill- no loyalty anywhere in the firm.

As an 18 yr former AGE vet I feel the same way.  My loyalty left when Bagby sold us, period.  My loyalty now is to my clients only.
Dec 2, 2008 10:30 pm

Its a small world out there and how you handle any inherited acct situations can come back to haunt you or bless you. Best to always remain professional and respectful to the person that left. The client may stay they may go, but you can be sure the other FA will be aware of how you conducted yourself. Its too small a world out there in our biz to alienate anyone. Never know when you may be needing a helping hand some day.  

Dec 2, 2008 10:45 pm

I still play poker and go fishing with folks from my old ML office. The BAI guys don't say "Hi" unless I say so first on the street. They act guilty. And I keep taking my clients away from them. The Hindus call it karma, Christians call it integrity. I always learned that if you burn a bridge, make sure you did not leave any friends on the other side.