Joining WB Securities

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Oct 2, 2008 6:43 pm

Does any one know (recruiters), what type of deal is out there to jump ship and move to WB Securities?  Percentage of trailing twelve, are they paying all cash, all stock or a combination of cash and stock?  I have a buddy who was thinking about making the move but now is thinking he might be better off looking at C since they might be offering a greater platform/services for clients, in his opinion.

Oct 2, 2008 8:46 pm

Unless your from Jones, your nucking futs to want to jump ship to WB.  I would rather jump from a high bridge into 6 inches of water than to WB.

Oct 2, 2008 10:34 pm

Wolfgang    Do you own a TV or get a newspaper.  They don't even know their own future.

Oct 2, 2008 11:30 pm

Bud Fox,
What do you mean by the "Unless you are from Jones...." quote?  I am asking this question seriously.  If you have real facts I am not considering I would like to know.  I am dead serious when I say I am asking you this question for a straight forward, factual answer.  I do not blindly drink any drink and I would appreciate any other opinions.  I am pretty sure I read the same news as everyone else but I could be missing something.  Please answer my question with the same candor and respect that I asked the question.  ytrewq

Oct 3, 2008 2:19 pm

sure, tell your clients you know exactly what they should do with some degree of certaintly when you are willing to give your career to someone who's trying to have two girlfriends.  Last time I tried that they both broke up with me.  I feel sorry for those AG Edward Brokers, I mean what the hell to you tell your clients? 

You signed up with AG Edwards, now with Wachovia, now with Citi, wait no, by ourselves, uhh hold that Wells Fargo, crap, I'm sorry, that may be incorrect, that deal may get broken up by the feds, feel comfortable yet?  Maybe some of us will do the right thing and jump ship and resort back to AG Edwards and be closely held again.  No, that's AG Edwards not Edward Jones.  What's the difference? Edward Jones is still Edward Jones.  Dinky and Dungy, but still Edward Jones, nobody will be buying them, no transparency, and well they run a very inefficient business model.  Whew!  But your portfolio is in less of a mess, it's only down 25% YTD, but you're still in better shape than I am, so you have that going for you... which is nice.
Oct 3, 2008 2:23 pm
Wolfgang:

Does any one know (recruiters), what type of deal is out there to jump ship and move to WB Securities?  Percentage of trailing twelve, are they paying all cash, all stock or a combination of cash and stock?  I have a buddy who was thinking about making the move but now is thinking he might be better off looking at C since they might be offering a greater platform/services for clients, in his opinion.

ytrewq:

Bud Fox,
What do you mean by the "Unless you are from Jones...." quote?  I am asking this question seriously.  If you have real facts I am not considering I would like to know.  I am dead serious when I say I am asking you this question for a straight forward, factual answer.  I do not blindly drink any drink and I would appreciate any other opinions.  I am pretty sure I read the same news as everyone else but I could be missing something.  Please answer my question with the same candor and respect that I asked the question.  ytrewq


 
I sure hate it when people get their multiple sign-in names mixed up
Oct 3, 2008 4:25 pm
OldLady:
Wolfgang:

Does any one know (recruiters), what type of deal is out there to jump ship and move to WB Securities?  Percentage of trailing twelve, are they paying all cash, all stock or a combination of cash and stock?  I have a buddy who was thinking about making the move but now is thinking he might be better off looking at C since they might be offering a greater platform/services for clients, in his opinion.

[quote=ytrewq]Bud Fox,
What do you mean by the "Unless you are from Jones...." quote?  I am asking this question seriously.  If you have real facts I am not considering I would like to know.  I am dead serious when I say I am asking you this question for a straight forward, factual answer.  I do not blindly drink any drink and I would appreciate any other opinions.  I am pretty sure I read the same news as everyone else but I could be missing something.  Please answer my question with the same candor and respect that I asked the question.  ytrewq
[/quote]
 
I sure hate it when people get their multiple sign-in names mixed up
 
 
Oct 3, 2008 4:32 pm

I guess I don't see how Wolfgang and Ytrewq are the same people.  What did one post have to do with the other??  WG is talking about WB.  YTREWQ is talking about Jones.  I don't see the connection.  I think you are mis-reading his post.

Oct 3, 2008 4:37 pm

B24...it's just Freaky Friday. Is anything that clear this week

Oct 3, 2008 4:45 pm

Damn, dinky and dungy...why I didn't I think of that...how about small and smelly...or tiny and toxic...

Oct 3, 2008 4:53 pm

At the end of the day it's the relationship you have with the client not the name on the shingle. But I must say it's been a crazy week. I made a ton of money for my clients this week. That kind of makes the rest fade away.

Oct 3, 2008 4:54 pm

Rumors flying abuot LPL buying ING Advisors...what do my brethren think of this?

Oct 3, 2008 7:06 pm

OldLady,
If you are suggesting that I have 2 sign in names you are a bit mistaken.  Although I enjoy reading and occasionally posting to this forum, I could not care enough to bother making up two names.  You can see that I never post during business hours.  I have a large practice and do not have the time (I wouldn't waste it on this if I did).  I only infrequently post on Saturday's as I work every Saturday too.   Not to disrespect this forum but none of us should be spending too much time here right now.  These opportunities only come around once every 3-5 years.  The market could go back up at any moment and we will have lost a chance a chance of a lifetime.

Oct 3, 2008 7:48 pm

I am sorry if I struck a chord with the "unless your from Jones comment".  I have to remind myself that people are lucky to have jobs right now, even if it is at the Kool-Aid factory.  Everyone has to start somewhere, even if it is at the bottom.  BTW, go ahead and come on over to WB.  It won't be so bad since our name WILL change either to WFC or C.  But unfortunately, you won't be eligible for any of the new retention package that will be larger than what us AGE guys got 11 months ago. 

Oct 3, 2008 8:11 pm

You didn't strike a chord.  I was asking a sincere question.  Maybe Jones did something to you?  I tried to make it completely clear I was not getting in an argument.  I did not even know you worked for Wachovia.  The last thing I want is to see good people, I could care less what firm they work at, lose their jobs, retirement, security, or their books of business that they poured their heart and soul in to build.  I believe there is room for all of us to succeed.  I am sure you are under even more pressure than most of us are so I will not take your post personally.  I understand many have an axe to grind with Jones.  They may have very good reasons.  There are also real people with real families that work at Jones.  I am originally (years ago) from St. Louis.  I have many good friends (and a family member) that did/do work for AGE.  No matter your opinion, I do not wish even 1 bit of bad on anyone in our industry.  I hope whatever you are going thru works out for the best for your family.

Oct 3, 2008 8:32 pm

 to you. And the same for you & your fam.  I just have a few axes to grind with a couple of the Jonesy's, which I'll keep silent for now.  The day is a comin soon.  So nothin personal, but how could it be, I don't even know you.  From all the posts I have seen here over time, it just seems like Jones is a synonymous word for piker, or insurance salesman, or snake-oil salesman, or just a place to learn what a mutual fund is and then take that knowledge somewhere else.  Funny thing is,  all of the incoming ACATS that I submit for Jones are small amounts, like 5 figures.  The 6 & 7 figures are all coming from SB, MER, MS or even a bank. Never are they from Jones.  The new clients always sign the ACATS and then say "Oh, we have this small account over at Ed Jones, how can we get that included here?" I find it hard to believe that this is a trend that only I am experiencing.