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Nov 3, 2009 7:32 am

Im curious what some of you guys who have left firms do in the weeks prior to leaving...lots of client contact, hints that you are leaving??

Nov 3, 2009 8:24 am

I was hiding under my desk as we left at the market bottom.

 
I all honestly I continued to do what I have always done.  I contacted them and met with them as much as I could.  I did not hint at anything, but since the company I was leaving was in trouble I just gave them the comfort that we had done our homework and Plan B was in place.  I also told them that I would be in touch soon.
 
Keep it simple and depending on what kind of contract you signed be very careful what you say.  I didn't even tell my top 5 clients ahead of time.
Nov 3, 2009 8:36 am

I stepped up my client contact a month or two before leaving. I wanted to get in front of as many people as possible before I left to solidify the relationship. I did keep working regular hours and did a little bit of revenue to stay off the "who's leaving next" radar.



I didn't tell any clients ahead of time directly, but I did have a bunch of the "in case I were to leave" conversations to see what their reactions where. My clients told me after I left that they could sense I was on my way out the door.



A good friend of mine who just went Indy did tell a bunch of his clients ahead of time and has since moved over a ton of assets in a very short amount of time. I didn't have the balls to do it.

Nov 3, 2009 9:27 am

Get stuff in writing


hammer them now because once your there, leverage is gone.
 
 
 
Nov 3, 2009 11:11 am

No matter what macho bad ass crap you hear........its a horrible experience.

 
Its 30 days of a living hell and 90 days of close to a living hell.
 
You will tell manager and poooof.....you have nothing.   scared the living crpa out of me.
 
here is the best advice:
 
be prepared to work 10 times harder then you worked as a rookie for 90 days.
its will suck so be prepared but know that it WILL work and you will get your book and life back.
there will be many times when you think you made a horrible mistake 
 
work and dont dwell on anything  (good or bad)
just keep pushing getting your people over and putting out the GD fires.
dont take anything personal.  you WILL have some major disappointments.
you will also have some people who surprise you the other way.
take care of yourself like if you were preparing to run a marathon or something.
 
dont piss the money away
use and adult allocation with your bonus
dont spend any money for six months
you got to pay the taxes which sucks  (you will understand)
 
if any tough guys on here tell you it was easy etc  they are lieing MF's
it sucks. 
 
 
 
 
 
Nov 3, 2009 1:23 pm

I agree 100% with this as well.

Nov 3, 2009 1:34 pm

Going from one firm to another is like going from a lung cancer to bone cancer. They all suck ...the problems are the same across the street. the management does not care and you will get screwed. GET A REAL JOB 

Nov 3, 2009 2:19 pm
meletio:

Going from one firm to another is like going from a lung cancer to bone cancer. They all suck ...the problems are the same across the street. the management does not care and you will get screwed. GET A REAL JOB 

 
Something you apparently don't have...
 
I don't understand why people who hate the industry(got fired, sucked at it, grew tired of it) feel the need to come here and post useless information?
Nov 3, 2009 2:31 pm

There is probably quite a bit that you don't understand

Nov 3, 2009 2:31 pm

For starters why you keep posting here?

Nov 3, 2009 2:33 pm

Mainly to annoy people

Nov 3, 2009 2:39 pm

you could at least be funny at it.. Hank was here to annoy(and offer some guidance) but he made it funny

Nov 3, 2009 2:43 pm
meletio:

Mainly to annoy people

Meletio, consider it a job well done. Now please move on to your next job.
Nov 3, 2009 2:44 pm

OK her's some guidance ...over the past week or so 90 % of the economic numbers and earnings have beat expectations. ( some even on the top line ) and the mkt can't hold a rally. That tells me that you should protect your gains if you have them. Buy some SDS or SH ( non leveraged ) and keep it in your account. Use your other $ to trade the bounces. That way if you are wrong you make money on the shorts. Don't worry about taking a bath on the shorts b/c we probably do not have too much upside in the mkt.  Ok now for the humor. some people on this forum are so incredibly stupid that I am starting to question evolution.

Nov 3, 2009 2:55 pm

No i wasn't looking for investment advice(not sure how you can give advice not knowing someones circumstances) meant building a business advice.

 
Second that wasn't really funny, it lacked creativity.
 
May i ask what you do for a living?
Nov 3, 2009 2:57 pm

I actually stole that from Bill Maher. ( who I believe should be president only he's a little too conservative for me ) . I trade my own account for a living.

Nov 3, 2009 3:00 pm

Yeah I think he is funny too.

 
So you trade your own account? Is that the only income you have? How were you able to build up assets to make it as a day trader? What firm do you use?
Nov 3, 2009 3:01 pm

as far as building a business advice.... sorry, I misunderstood. My advice is to simply do the right thing and don't give because in every downturn tons of people do. The ones left standing inherit the books.. Also live below your means and forget about the Joneses. The USA is made up of people that buy things they don't need with money they don't have to impress people they don't know. Formula for disaster

Nov 3, 2009 3:05 pm
meletio:

OK her's some guidance ...over the past week or so 90 % of the economic numbers and earnings have beat expectations. ( some even on the top line ) and the mkt can't hold a rally. That tells me that you should protect your gains if you have them. Buy some SDS or SH ( non leveraged ) and keep it in your account. Use your other $ to trade the bounces. That way if you are wrong you make money on the shorts. Don't worry about taking a bath on the shorts b/c we probably do not have too much upside in the mkt. Ok now for the humor. some people on this forum are so incredibly stupid that I am starting to question evolution.





OK short it then.

we get it. your a bear.



go all in short



Nov 3, 2009 3:06 pm

no not always a bear just think it's running out of steam. My favorite stock to buy on dips it BTU.