Ferris Baker Watts/RBC

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Oct 3, 2008 8:27 pm

Anyone on the board work there? I am looking for any pitfalls of joining a Ferris office in the midst of the RBC transition.

Oct 3, 2008 9:19 pm

Just a wild scenario...  WFC or C buys ALL of WB. Why would you want to leave?  Could Ferris possibly have any edge over this new combination with WB?    BTW a fly on the wall told me that we will get a better retention than last time to compensate us for our high blood pressure as of recent and to make us happy like we were under Ben Edwards.

Oct 4, 2008 8:57 am

Why join FBW now?  Unless you are a rookie, you'll have to go thru 2 transitions. FBW and then to RBC.  FYI - FBW has frozen their money market (b/c it broke the buck) and both clients nd FA's are not happy.


WS - I have heard that the retention pkg, which was in the works PRIOR to the C/WFC deal will be "aggresive.
Oct 4, 2008 10:46 am

Ironic that Bud Fox gave Gordon Gekko good advice!

 
I think waiting to hear what we'll get for sticking, assuming WFC wins out makes a lot of sense. It's a lot more than just the retention package. Details will be slim next week but rushing out and leaving would seem to be the equivalent of a client calling in last week to see how their stuff is doing, going ballistic, and saying sell it all! I had a client that did that with a chunk of his money and had it wired out as he freaked about WB.
 
I'll be saying my prayers that WFc wins out as that is the best possible outcome for everyone other that Citibank shareholders.
Oct 4, 2008 11:03 am

RBC as the eventual destination for FBW would seem to be a decent alternative. I don't hear a lot of knocks on them other than the parent company is a stodgy AAA rated Canadian bank, eh.

Oct 4, 2008 3:04 pm

   This Bud Fox always gives good advice....Thanks...   BTW why not just go to Jones?  I don't think anyone is wanting to buy them....

 
Strike that thought.....I don't think anyone really wants to work there either...