Indy guys are correct

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Feb 3, 2010 3:57 pm

I have never been anywhere except a large wire.    



You indy/good regional guys are right. Large wires blow.



There used to be somewhat of an advantage prospecting with a big name that had respect.



After subprime...its a negative.



In house research?    big deal. get many more ideas outside



Support?   Our team now FIRST goes to Goog for any questions or problem. Next to the firm support if not on internet



thinking about my day. what does firm bring to table?   



MF hassles.



compliance BS. (95% which does'nt really protect us from anything)



trading restrictions or stupid CYA rules



You guys are right.   This forum has given me a different perspective.   



You indy guys (an some regionals) come with such passion. you cant fake that



It would be cool to handle stuff on our own and not have all the other crap.



I've tried to think of what exactly they bring to the table for their 60ish percent......it was difficult



the check did'nt bounce



Wachovia did have a great name before meltdown (Im in the south).    

I guess I'm coming out of fog of last couple years.   



bailouts, bonuses, wrecking free world economy, hiding money for tax cheats ....got that going for you

Feb 3, 2010 4:04 pm

The way you write makes me wonder how you speak in real life.  I wonder if you look and sound like Stephen Hawking http://www.youtube.com/watch?v=Dr5MCbIPPsA.

 
And yes, being indy is awesome, I would never go back to a wire. 
Feb 3, 2010 4:07 pm
snaggletooth:

The way you write makes me wonder how you speak in real life. I wonder if you look and sound like Stephen Hawking http://www.youtube.com/watch?v=Dr5MCbIPPsA.



And yes, being indy is awesome, I would never go back to a wire.







funny.    





I'm a cool MF.   You would be begging to hang with me

Feb 3, 2010 4:10 pm

I would hang with Stephen Hawking.

Feb 3, 2010 4:33 pm
Shania Twain:
snaggletooth:

The way you write makes me wonder how you speak in real life.  I wonder if you look and sound like Stephen Hawking http://www.youtube.com/watch?v=Dr5MCbIPPsA.

 

And yes, being indy is awesome, I would never go back to a wire. 




funny.    


I'm a cool MF.   You would be begging to hang with me



 
I believe it...you got Angus for an avatar.
 
Despite cussing compliance for all the stupid CIP issues we've had recently, I love being indy.  LPL has good research and I follow the CCI they put out religiously...that's some of the best market intelligence there is out there and there is a reason that Barrons et al call Kleintop asking questions when he puts it out.  I think Burt White came from Wachovia...he's a smart MF too.
 
Shania, you're right...your wire isn't helping you...it's just taking from you.  You and your team need to take a walk on the wild side.
Feb 3, 2010 5:22 pm

Shania

You bring out a good point..besides all the points you make about the wire, which are dead on.
This forum is really invaluable, despite all the bullsh*t that goes on. I have to say, that if not for spending a lot of time on this forum, i might have never considererd indie in a serious way. It made me aware of the channel, the possibilities and the benefits and spurred me on to find out more and do my own due dilligence.  And as I've said before, I am so glad i made the move.
If you decide to consider it, use this forum as a resource. There are 3 members of this forum whom i have had phone conversations with prior to making the move, they know who they are. And they really helped me. With information, and also helped me grow the balls to jump.
So, short story, you are on to somethin, dude.
Feb 3, 2010 5:35 pm
Shania Twain:

I have never been anywhere except a large wire.    

You indy/good regional guys are right. Large wires blow.

There used to be somewhat of an advantage prospecting with a big name that had respect.

After subprime...its a negative.

In house research?    big deal. get many more ideas outside

Support?   Our team now FIRST goes to Goog for any questions or problem. Next to the firm support if not on internet

thinking about my day. what does firm bring to table?   

MF hassles.

compliance BS. (95% which does'nt really protect us from anything)

trading restrictions or stupid CYA rules

You guys are right.   This forum has given me a different perspective.   

You indy guys (an some regionals) come with such passion. you cant fake that

It would be cool to handle stuff on our own and not have all the other crap.

I've tried to think of what exactly they bring to the table for their 60ish percent......it was difficult

the check did'nt bounce

Wachovia did have a great name before meltdown (Im in the south).    
I guess I'm coming out of fog of last couple years.   

bailouts, bonuses, wrecking free world economy, hiding money for tax cheats ....got that going for you

 
went from ag/wach/wfa to regional.
 
sing it loud bro. no regrets. amazing feeling when when your sphincter doesn't reflexively tighten when you come in to work.
 
do it.
Feb 3, 2010 10:41 pm

Shania...the truth shall set you free! I am impressed with your integrity to admit that you 'took a check.' Let me tell ya - I was so close - but something in my gut said no, it's a trap. Maybe I was lucky? Certainly not better. So it's not the end of the world and you can deal with 'circling the wagons' to keep the BS away from your business and deal with the 3 stooges leadership. I think anyone who would judge that given what we have all been through is a fool. And anyone who says we are all about to blow one another or corrects my spellling can f off. For you and anyone else to Man up to a decision and acknowledge what many of the indy folk have been saying may be accurate is cool. And not because I am indy. It's good to see someone go thru a self actualization and see the light - for your own sake because these big wires equate to a big fat government that skims from the most productive citizens. They have gotten "too big to serve" and are laden with conflicts and wastes between the layers of fat and incompetent "leaders". The red tape and bureaucracy as well as arrogance is their Achillies heel. Just remember, You can give a check back at some point and leave... And again, to any ardent EDJones or other Proud Wire folk, To each his own. I am not saying my way is the only way. Hey all - you screw your wife your way, and I'll screw her my way! (just kidding). Eventually, the big firms will figure out that they suck as they are and will either adapt or get eliminated. Some will realize clients hire an advisor and not an institution. You still own the relationship at a wire, you just have to battle every day to keep it! Your are leasing your book. I got sick of that silly game. But I am sure some wire folk could make a case for the deferred comp., "hassle free" focus on your business, etc... I'll take the "hassles" of being an etrepreneuer ANY DAY.



Seriously, it is so liberating to leave and clients sense your happiness. They root for David vs. Goliath. They now confess that your old firm did have a pungent proprietary aroma. It also feels better to be an OWNER than an employee. I am not an agent for someone else. It is very hard to explain to someone still on the inside of these tarnished ivory towers that outside you are the decision maker and you call the shots (along with the responsibility). Personally, having dealt with all the business owner stuff, I can really relate better to many clients who deal with this stuff. They share their experiences and while the businesss issues are a new challenge, it is a whole new spectrum I am discovering and learning more about what my business owner clients all deal with. It's a new thrill to run a business and make the strageic decisions. It's like after years of being a sailor, you one day get your own vessel. You have more risk, but now your are cruising and you have the helm - not some jerk who has been out of production for a few decades.   The "managers" who "lead" these firms are there to undermine your client relations and increase profitability to shareholders - NOT clients. Again, they are too far removed from the day to day relationship we have with clients, nor do they respect the relationship. So I say - REVOLT! Branch managers are a dying breed. Why anyone would stay beyond 5 - 7 years makes no sense (I stayed a lot longer so I am not claiming genius status). The technology, experience, and open platforms gove you all you need and no need to pay 55-60% to these clowns. Again, big firms to me equate to a big wasteful organizations TAXING you. Like a government run by liars. Okay...this is very conspiracy theory - but hey, this is my perception. Passionate about staking independence - damn right.

Would not go back! Okay, Maybe when I am a geezer! I'll sell 'em MY book and start T&E ing like mad! Life is so much fun on the outside! Hop over the wall! Fire the firm! It is awesome! I never felt this psyched about the business and the feeling of optimism when I have such a stake in the outcome and I trust my ability to allocate resources way more than some manager who is conflicted between the corporate home office and helping his best FAs. You just don't need this grief and it's really better! I swear it is and glad you are realizing this. The indy's are cutting deals and will make it very worthwhile for a quintile 1 or 2 FA. You are starting to get it and that's cool. The "whire houses" really provide very little for the hefty taxation! Get out while you're young kid! You will be happier!



       

Feb 3, 2010 11:21 pm

Watch this video in a new window - Papillon -Welcome to Devil's Island



http://www.youtube.com/watch?v=-F62B6BX0xs  &nbsp;



Feb 4, 2010 8:23 pm

Just responding to the Burt White comment. Yes, he did leave Wachovia after building a pretty nice wrap program that wasn't your typical buyandhold pie chart, more based on relative sttrength analysis.  Since then, they seem to have panicked that they can't run the models he left behind the same way. Solution to that was to double the number of funds in each, most models now have 20-25, so now we get index performance minus fees.  Planning my exit  too...

Feb 5, 2010 10:41 am

ML,

 
Change your Avatar back to something better to look at.  I miss the dancing girl.  BTW, how do you upload a moving Avatar?  I tried and it didn't work.  I had a really nice one for all of you to look at.
Feb 5, 2010 10:55 am
Omar:

ML,



Change your Avatar back to something better to look at. I miss the dancing girl. BTW, how do you upload a moving Avatar? I tried and it didn't work. I had a really nice one for all of you to look at.





I don't think ML will be responding to you

Feb 5, 2010 11:14 am

What happened to you???  LOL, I'm sorry but I find that you got booted hilarious!

Feb 5, 2010 11:17 am

Wachovia did have a great name before meltdown (Im in the south).

Wach. had a good name until FU bought em, sucked em, shat em.  All for the name.  I saw that coming a mile away.  Had a friend who headed the future bank initiative (FBI) that sank FU.  All they had left was some way to shed the name.  WB was just getting big enough and had a superb reputation to be acquired.  Bye-bye WB.  Hell, I remember when you had to be a Citadel grad to even be considered for Wachovia. 



Edited:  also in the south.  Y"ALL.

Feb 5, 2010 1:01 pm

His membership doesn't show as suspended.  And he was on this morning.

Feb 5, 2010 1:12 pm

Subject: Suspended

Sent: Today at 7:51am

Sent by: administrator

Group: Admin Group   



I'm not sure why, but instead of banning your IP, I've suspdended your account for 10 days. I'm sure you'll just create another user and continue to harass people, in which case I'll just ban the IP anyway. But I'd prefer if you acted civil our forums, and if you can't, you're not welcome here.

Feb 5, 2010 1:13 pm

commies

Feb 5, 2010 1:24 pm

Nice try Mel!

Feb 5, 2010 1:27 pm

LMAO. sweet revenge on myself!