Ex A.G Reps

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Jun 12, 2009 6:50 pm

Anybody had any success leaving the Wackshack and negotiating the retention deal ?

Thanks.

Jun 12, 2009 10:10 pm
clang:

Anybody had any success leaving the Wackshack and negotiating the retention deal ?

Thanks.



?? seriously???

Jun 12, 2009 10:16 pm

I've heard everything from 10% on the dollar to losing an arbitration case and having to pay the whole thing. Both coulda been BS. I'm looking for hard facts. A bunch of us are bolting.

Also, anyone had problems with raiding issues ? e.g 2/3 of the branch walking across the street to another firm.


Jun 13, 2009 12:31 am

Why are people leaving?

 
I see lots of people leaving firms including myself. Everyone claims the former firm had lots of problems. The real reason is the check....:)
 
I will still argue, after 24 years in the business. They are just vendors.
Jun 13, 2009 1:04 am
clang:

I've heard everything from 10% on the dollar to losing an arbitration case and having to pay the whole thing. Both coulda been BS. I'm looking for hard facts. A bunch of us are bolting.

Also, anyone had problems with raiding issues ? e.g 2/3 of the branch walking across the street to another firm.

 
Clang,
 
Where are you and your posse going?  In regard to conversions - I would assume that WFA/WS/AGE are ahead of the pack on the timeline compared to the other wires. 
 
It would seem that having stuck it out this long and moving now would be like moving to cash in February.  You have already endured the most painful parts.  Unless, of course, you are looking for a check.
Jun 13, 2009 12:45 pm

If we wanted a check we would have hit the bid at the wires a long long time ago. At our little burg it was the wires or AG. Now another regional is coming to town so Adios wfc.



Trust me, there's more bs coming from wells. Forefront will eventually be mandatory. Firewall between bank and brokers will disappear. Next thing all brokers will be assigned teams with mortgage, trust departments, etc...



Maybe what I hear is wrong. Doesn't matter. Wfc doesn't care about us or clients. I know that already.

so we are out.   

Jun 13, 2009 2:25 pm

I left along with a few friends who decided to leave on their own and they went after us for raiding.  This was before Wells, we left in September 07, the fight and the arbitration was a distraction, but now, as I look back was a unbelievable move.  As fate would have it, our office opened up a new ML branch and in addition to the ex age reps we added all the local Smith Barney FA's (minus 2 rookies) and are now in better shape than we were at AGE in terms of gross, assets, etc.

 
So even with the move, the markets and the ML news, It all worked out, but the journey was -interesting.
Jun 14, 2009 12:41 am
clang:

Anybody had any success leaving the Wackshack and negotiating the retention deal ?

Thanks.

 
When I left three months ago, nothing made me happier than to march into my former Wachovia branch with the balance of my retention check.  When I left the branch, I yelled "FREEDOM"!!!!
 
Went to a regional.  So far, 90 of my assets/clients moved with me.  Never been happier.
 
NEVER LOOK BACK!
Jun 14, 2009 7:25 pm

I paid what I owed. Unless you don't have the cash to repay it, I don't know why anyone would fight it. Some fc's have a personal vendetta against the prior company. I just wanted to be done with it. Don't know about the raiding deal.

Jun 16, 2009 11:03 pm

Everyone takes 90% of their book...don't they. That is the fishing story at least.

Jun 18, 2009 2:04 am

It seems like forever that about this time of year I would look at my book and think what trip can I make if I really work my ass off. How many new accounts do I need to open. How many seminars , how many referrals do I ask for each day etc. I loved it . I loved it. Those trips were the best thing in the world. My wife and I met terrific people and got to know Ben and even back then Bob and everyone in home office. The best , the best ever. I would tell clients about it and they thought I deserved it because I worked hard for them. They loved it too because they thought they had a successfull Broker that the company thought highly of so they were as connected as I was. Good good stuff.

 
Jun 21, 2009 12:40 am

redpen....Amen...trips were the best....just not the same anymore.