Has Anyone received their AGE overtime settlement$

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Sep 17, 2009 7:53 am

I was just wondering if anyone has received the cash from the overtime wage settlement??

Sep 17, 2009 9:07 am

Nothing yet for our bunch.  Wasn't the expected timeline Octoberish?

Sep 27, 2009 12:21 am

Checks were sent out over a month ago. Everyone should have gotten paid.

Sep 27, 2009 2:27 am

Didn't we get paid about 2 years ago on this? Is there a Nother one?

Sep 27, 2009 9:53 am
AGEMAN:

Haven't gotten mine yet






 
Me neither.  A quick search turned up this link:
http://www.whafh.com/modules/case/index.php?action=view&id=863
which says we have until October 5, 2009 to return the claim forms.  So how can checks be already mailed?
Oct 5, 2009 11:02 pm

Looks like The final hearing was today. Hopefully well get our checks soon

Oct 8, 2009 8:57 pm

Overtime settlement for Financial Advisors?  This is seriously the funniest thing I've ever heard.


So, you all make minimum wage or something?  Here, I thought the FA's on here were all rock stars....bummer for me to find this out.
 
I'm home office.  Why is it every time I return a call to an FA after market close...voice mail?  Did you all use your clock punch cards to prove how much overtime you had?  Seriously, who came up with the magical calculation for how many hours an FA works?
Oct 8, 2009 9:20 pm

Actually, you don't pay my salary.  If you look at quarterly results, you'll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue.  FA's on the average are break even.  Now I get that those fees are due to your clients and their assets.  But at the end of the day, without the BDS and Fees, I wouldn't have a salary and you wouldn't have a firm to provide you with the products and services you provide your client.  So, we're really in the same boat...because without me (us), you are on your own. 

 
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms.  Genius.  Seriously...they got rich with the tort.
 
I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. 
Oct 8, 2009 9:22 pm

Ferris, I can't argue either of your points. Well put.  But, my opinion stands...no hard feelings.

Oct 8, 2009 9:33 pm
RicRelo:

Overtime settlement for Financial Advisors? This is seriously the funniest thing I've ever heard.

So, you all make minimum wage or something? Here, I thought the FA's on here were all rock stars....bummer for me to find this out.



I'm home office. Why is it every time I return a call to an FA after market close...voice mail? Did you all use your clock punch cards to prove how much overtime you had? Seriously, who came up with the magical calculation for how many hours an FA works?





You are so clueless.

You have any idea how hard it is to get clients and do business?

Go into FA training program then, clerk.   

Income unlimited.    

Go for it

Oct 8, 2009 9:37 pm
Shania Twain:
RicRelo:

Overtime settlement for Financial Advisors?  This is seriously the funniest thing I've ever heard.



So, you all make minimum wage or something?  Here, I thought the FA's on here were all rock stars....bummer for me to find this out.

 

I'm home office.  Why is it every time I return a call to an FA after market close...voice mail?  Did you all use your clock punch cards to prove how much overtime you had?  Seriously, who came up with the magical calculation for how many hours an FA works?



Go into FA training program then, clerk.   
Income unlimited.    
Go for it



Nah, I do quite well from the sweat off all your 9am-3pm backs.  Although the ARS crap you all sold (and got paid for) screwed up my bonus last year. 
Oct 8, 2009 9:39 pm
RicRelo:

Actually, you don't pay my salary.  If you look at quarterly results, you'll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue.  FA's on the average are break even.  Now I get that those fees are due to your clients and their assets.  But at the end of the day, without the BDS and Fees, I wouldn't have a salary and you wouldn't have a firm to provide you with the products and services you provide your client.  So, we're really in the same boat...because without me (us), you are on your own. 

 
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms.  Genius.  Seriously...they got rich with the tort.
 
I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. 



Do you really think clients ask us questions like that?? Geesh.

Oct 8, 2009 9:40 pm
Ferris Bueller:
RicRelo:
I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. 



Why would I have to explain it to my clients? Not a single one knows about it. And if they did, I'd explain that I dont understand it either but it's free money. Seriously. why would they care.

Good point again, Ferris.  Please stop responding. 

p.s. But you did miss a question mark...
Oct 8, 2009 9:50 pm
Ferris Bueller:
RicRelo:

.  Although the ARS crap you all sold (and got paid for) screwed up my bonus last year. 



I think it sucks that the Home office bonuses were cut because of this but I REPEATEDLY called the home office in December 07, asking about ARS/MARS and every person in the bond dept I spoke with thought I was crazy to even be questioning them. Why are these paying so high when nothing else is? How are these insured? Can these fail? And the answers I got were a joke. Time for the home offices to be shifting some of that blame to their short term cash desk traders.



Agreed.  Lot's of blame to go around.  We just happen to take the hit on this one...big time.  Bonus was cut to 18.62% of target...It mattered.
Oct 8, 2009 9:51 pm

Ric



You are spot on that the law suit is total BS. Ambulance chasing scum bag trial lawyers wreck USA and this totally baseless BS lawsuit is really wrong.   

Oct 8, 2009 10:03 pm
AGEMAN:
RicRelo:

Actually, you don't pay my salary.  If you look at quarterly results, you'll oddly notice that the profitability of the firm (at least mine) tracks very closely to BDS and fee revenue.  FA's on the average are break even.  Now I get that those fees are due to your clients and their assets.  But at the end of the day, without the BDS and Fees, I wouldn't have a salary and you wouldn't have a firm to provide you with the products and services you provide your client.  So, we're really in the same boat...because without me (us), you are on your own. 

 
Secondly, I got a kick out of the fact that a lawyer found a loop hole in a California law designed to prevent lawn care company's from abusing illegal aliens with excessive work without appropriate compensation, and somehow applied that law to the pay practices of brokerage firms.  Genius.  Seriously...they got rich with the tort.
 
I'd like to be a fly on the wall as you explain to a client why you deserve the overtime payment associated with the lawsuit. 
The part of your quote above that says firm profitability tracks close to BDS and fees which means that is what is leftover after your salary is paid by our work so we do pay your salary!!

Yeah, you're right AGE.  You don't need us.  We contribute nothing.  Can I have a raise?
Oct 8, 2009 10:06 pm
Shania Twain:

Ric

You are spot on that the law suit is total BS. Ambulance chasing scum bag trial lawyers wreck USA and this totally baseless BS lawsuit is really wrong.   

Wow, Shania!!! BTW...what the fnck did you do with BP and Meletio?
Oct 8, 2009 10:19 pm
AGEMAN:

Ric--of course we need you and all of the home office peeps

 
AGE, the best service we provide doesn't go to the top producers, like most think...we could give a sh!t.  I've never once checked production of an FA I'm talking to.
 
The best service goes to someone who said "thanks," the previous time we talked...
Oct 10, 2009 11:59 pm
Ferris Bueller:

I'm going to the strip club with mine



Don't forget to stuff an Andrew Jackson in Be Patient's wife's thong.
I bought here some new juggs with my Forefront money.

Oct 23, 2009 6:59 am

Seems to be running as efficient as the 4front program.  I have not received anything yet.