Dear Citigroup/Smith Barney
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In roughly 40 hours my team and two other teams are going to kick your ass.
We're the meat of the machine and we are sick of your organization. Between the three of us, we have nearly one billion in assets.
Tomarrow, advisors around the county and certaintly in my complex will voice with their feet. Sally, you are too late to make a difference. Citibank, do them a favor and sell them. It is too late for me but perhaps you can right the original wrong and put a once great company back to what it should be and once was. 400k in losses to my cap plan and I'm not blinking an eye. You are in my bulls eye SB and my team is going to take everything.Although these are the times that I am glad Edward Jones really only does brokerage (and is a partnership), I also believe Smith Barney is a very good firm to work for. Don’t cut off your nose to spite your face.
Also, unless you plan on going Indy, keep in mind that the same thing can happen at another firm.
Broker24, this ol boy has been planning this move in every detail for one year now. The other two teams for a little less however they are just as prepared as we are. We will clean them out. They are totally unprepared for what is about to hit em. I know that for a fact. Our manager told us he felt certain no one of importance was going to bail in 08 in our office. I even got a free lunch to hear him tell me this. Isn’t that a hoot.
This once loyal dog has been hit with a stick once too many times. Now I'm biting back. I'm logging off for another six months now. You reading this Citi? You reading this S.B.? Any DLs out there reading this? Hows that cap plan of yours doing ol boy? You suits have wrecked the company.Good luck Greenhills. Sounds like you know what you need to do. I look forward to hearing the story when you surface for air.
Also, unless you plan on going Indy, keep in mind that the same thing can happen at another firm.[/quote]
what’s the back story on all of this? I’m always curious to hear why a once loyal broker switches firms.
I could not agree more. But how many reps still don't get it. They leave the frying pan ot leap into the fire at another crapy wire house! Go indy or stay put! [/quote] Yeah, but he would be in the fire with a check for a million bucks in his bank account.
Also, unless you plan on going Indy, keep in mind that the same thing can happen at another firm.
Nine days. 71% of targeted assets so far. In first 24 hours we had 53% of targeted assets committed. Roughly 150 million in assets committed to come with us right now.
Two teleworking assistants and two in our office. Over 2000 sheets of paper printed for transfer forms. Must get much better printer. We're gonna lease a large thing that can handle what we need. We far underestimated the volume of paperwork. We got a top notch tech person and that has paid off in a big way. She saves our ass ten times a day. Two big client disappointments but several surprises. All in all, we feel great. As could be expected, SB was unprofessional. Friends told us what mgnt said after we left and through the week. Sad and disappointing. It bothered me enough that I created a seperate list of households I wasent planning on taking that I am now going after just to drain assets from the old basterd running the place. The other team that is twice our size delayed leaving because of this g.d. market. Ol horse face is gonna get quite a surprise when they pull the plug. I'm a free man for the first time in many a year.there are going to be surprises but don’t give up on the ones that did not come over. They may come over later. You usually get 50% right away, 20% more in the next few months and then maybe 10% later. what i found as a surprise was other accounts(held at other places) that also came over when the client made a choice to go with you.
i only left a firm one time so i am not an expert and really do not want to do it again. Sometimes a fresh start is the best thing that can happen. good luck.. you got your bonus money the old fashion way......you eeaaaarrrnnnnnnd it.[quote=Greenhills].
It bothered me enough that I created a seperate list of households I wasent planning on taking that I am now going after just to drain assets from the old basterd running the place. [/quote] I feel for ya brother, but that's the wrong attitude. Leave the "D" clients to pester the remaining brokers at SB and start prospecting for new ones. That's the perfect revenge! Even better, go after the big SB clients who weren't your clients. Get a few of them to ACAT over and watch "the old basterd" twist in the wind.Read his last post. He left months ago.So, did Greenhills ever leave? Its late March…
[quote=Greenhills]
Tomarrow, advisors around the county and certaintly in my complex will voice with their feet. [/quote]So how many brokers left that next day? I understand Green left, but he made it sound like there was a mass exodus. Anyone at SB know how many folks left? There are a two SB guys I meet for drinks with from time to time, but they have mentioned nothing about some big coup even though they are pissed about C’s performance.
I take that back, from what I understand one broker left a few weeks ago down the street in VA. Only about $400k in production with about 12 years of experience so not exactly knocking them dead.