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Oct 20, 2006 1:47 pm

"I have spent some time going through the LPL and RJFS websites' ability to find a rep in your area.  I have come across hundreds of names that I recognize.  Names that I know were on "cut lists" for various reasons ranging from negative attitudes to compliance issues to poor production."

Wow!  Hey that store down around the corner from you has a few lives still for sale; you ought to hurry down and buy one. 

Who's the real loser, the advisor that jumps from an environment they're not happy at and makes a better life for him and his family or the idiot who gets on his soap box in a discreet postboard, posting all day long, never having lived the life he so proudly advises about? 

Weren't you the same dolt who claimed LPL didn't have any million dollar producers then never posted in reply to facts that were presented proving you wrong again?  Have you seen the analysis done by Morgan Stanley Research that discusses in detail how broke the wirehouse model is specific to their brokers?  Now, click your heals 3 times and repeat "there's no place like home"  you may eventually wake up and get a clue.  Now hurry down to that store there aren't many lives left for you to buy.

Oct 20, 2006 2:00 pm

Heels

Oct 20, 2006 2:04 pm

Loser

Oct 20, 2006 2:50 pm

[quote=Devil’sAdvocate]

[quote=BrokerRecruit]Different strokes for different folks.  Some like the idea of being their own boss, while some like having a boss down the hall.  [/quote]

I have spent my life in a wirehouse environment and I'm here to tell you that most branch managers do not consider themselves to be the boss.

Most managers will go out of their way to foster an "Open door" policy where the producers realize that he or she is there to help when they are needed and to stay out of the way when things are going fine.

Oh sure, if the producer is not hitting on all cylinders there may be some conversations about how things could be better, but the idea that your firm is your enemy is simply not true.

I have spent some time going through the LPL and RJFS websites' ability to find a rep in your area.  I have come across hundreds of names that I recognize.  Names that I know were on "cut lists" for various reasons ranging from negative attitudes to compliance issues to poor production.

I don't care if some guy is happy with income of $60,000 so he becomes an "indy" because they will facilite his sloth.  What is offensive to me is the constant suggestion that running a place called "Acme Securities and Dog Grooming" is the zenith of this industry.

As I keep asking, if it's such a big deal why do the wirehouses have any big producers?

[/quote]

It's not the managers that consider themselves to be the boss, it's those that work for them.

And again, I stress that different people want different things.  Yes, there are big producers at wires and big producers at independents.  Some like having someone else control expenses, back office operations, etc., while some enjoy doing it themselves. 

You keep coming back to the question "if it's such a big deal, why do wirehouses have any big producers" - joe likes life at LPL while blarm likes life at ML.  It's a personal choice.  You have a small dog with a bow-tie while I have a 110 lb black lab with a bandana around his neck.  Neither are wrong.  Your dog appeals to you while mine appeals to me.  Personal preference.

Oct 20, 2006 4:00 pm

See, that’s where you got it all wrong BR. It’s not other folks opinion that matters, it’s his. The sooner we can all come to grips with this, the sooner we can all take this industry to a higher level. Let’s you and I start today!

Oct 20, 2006 4:04 pm

I know - it’s like trying to reason with a wallet sometimes.  And even though I think that bow-tied dog is a bit fruity, I’m glad it makes him happy.

Oct 20, 2006 4:20 pm

[quote=BrokerRecruit]

And again, I stress that different people want different things.  Yes, there are big producers at wires and big producers at independents.  Some like having someone else control expenses, back office operations, etc., while some enjoy doing it themselves.

[/quote]

You think it is a benefit of being independent that you get to worry about the power bill rather than letting somebody else do that?

Oct 20, 2006 4:34 pm

Seriously?

Ok - some would rather have to pay the light bill, the rent, phone, technology, etc. instead of giving 60% back to the house.  For them, it makes more sense, or this is a trade-off they can live with because they like having an office to themselves.

The independent model is not for you.  I get that.  The forum gets that.  Your dog gets that. 

We also get that you are a narrow-minded, know-it-all blowhard who cannot understand that everyone has their own opinion and that may differ from yours.  Maybe everyone in the independent world is thinking that you are a complete boob for thinking the way you do.

Why do some people prefer a BMW over a Lexus?  Why do some prefer pizza over tacos?  They just do!  Get over it and yourself.  Some people like LPL, some don't, end of story.  You've ruined and high-jacked this thread from someone that was seeking information by turning it into a soap box to step up onto and preach your beliefs.  If you want to do that, tell someone who cares.

Sorry for the rant, all....

Oct 20, 2006 5:17 pm

[quote=BrokerRecruit]

Seriously?

Ok - some would rather have to pay the light bill, the rent, phone, technology, etc. instead of giving 60% back to the house.  For them, it makes more sense, or this is a trade-off they can live with because they like having an office to themselves.

The independent model is not for you.  I get that.  The forum gets that.  Your dog gets that. 

We also get that you are a narrow-minded, know-it-all blowhard who cannot understand that everyone has their own opinion and that may differ from yours.  Maybe everyone in the independent world is thinking that you are a complete boob for thinking the way you do.

Why do some people prefer a BMW over a Lexus?  Why do some prefer pizza over tacos?  They just do!  Get over it and yourself.  Some people like LPL, some don't, end of story.  You've ruined and high-jacked this thread from someone that was seeking information by turning it into a soap box to step up onto and preach your beliefs.  If you want to do that, tell someone who cares.

Sorry for the rant, all....

[/quote]



No need to apologize you rock!
Oct 20, 2006 5:19 pm

I know, I know.  It irks me when someone is looking to gain knowledge and everything is derailed completely.  It, of course, doesn’t help matters when we argue back. 

Oct 20, 2006 5:21 pm

[quote=Devil’sAdvocate][quote=BrokerRecruit]

And again, I stress that different people want different things.  Yes, there are big producers at wires and big producers at independents.  Some like having someone else control expenses, back office operations, etc., while some enjoy doing it themselves.

[/quote]

You think it is a benefit of being independent that you get to worry about the power bill rather than letting somebody else do that?

[/quote]

I am happy to pay my own power bill(and it really isn't a source of worry) if it means that I don't have to deal with arrogant blowhards like yourself.

It's amazing how when I read many of your posts-ridden with errors and presumptions of expertise-how it takes me back to my wirehouse days.  It's like once again I'm sitting in one of those damn sales meeting listening to some useless VP prattle on because they like the sound of their own voice.

BR you were incorrect.  It's not trying to reason with a wallet, it's like trying to have a rational conversation with a big steaming pile of dog poo....like the one from your lab, not the wimpy little rabbit pellets that come from his fluffernutter of a dog.

Personally I am starting to think I should adopt the policy that others have-to refuse to even reply directly to him any longer.
Oct 20, 2006 5:44 pm

I wouldn’t disagree with you there.

Oct 20, 2006 5:48 pm

[quote=joedabrkr]
I am happy to pay my own power bill

[/quote]

Joeboy, if you didn't pay your office power bill the lights in your children's bedroom would go off.

Of course it's no big deal.

Oct 20, 2006 5:56 pm

Thanks for the information, it would be on the west coast if I get the job, i am in Houston, TX not a good place if you are trying to break in the Financial Industry.

Oct 20, 2006 6:30 pm

[quote=CashMoneyBrothe]

Thanks for the information, it would be on the west coast if I get the job, i am in Houston, TX not a good place if you are trying to break in the Financial Industry.

[/quote]

Why do you say that?

Oct 20, 2006 6:31 pm

Another day, another new handle for NASD Newbie.

Is it a medication thing or just the little voices in his head driving this guy insane?

"Most managers don't think of themselves as the boss"?

Many think of themselves as the Messiah let alone a mere boss. If it was so great at wirehouse why are they an ever shrinking force both in asset and headcount? The bigger point is control;

http://www.ia-mag.com/article.php?article=6822

We all have to meet regulations but aside from that, we own our practices and can trade them. That's just one level of the equity concept you choose to ignore.

You don't have to agree Newbie but why all the anger?

Oct 20, 2006 6:44 pm

[quote=Seeker15]

Another day, another new handle for NASD Newbie.

Is it a medication thing or just the little voices in his head driving this guy insane?

"Most managers don't think of themselves as the boss"?

Many think of themselves as the Messiah let alone a mere boss. If it was so great at wirehouse why are they an ever shrinking force both in asset and headcount? The bigger point is control;

http://www.ia-mag.com/article.php?article=6822

We all have to meet regulations but aside from that, we own our practices and can trade them. That's just one level of the equity concept you choose to ignore.

You don't have to agree Newbie but why all the anger?

[/quote]

I have no idea who Newbie is, but speaking for myself I have zero anger--I'm sitting in the cat bird's seat.

Wirehouses are going to great lengths to help older brokers sell their book to associates within the firm--normally junior members of the teams.

Because the firms are intent on keeping the book in house, yet feel a certain obligation to the retiring broker, the firms tend to work out some very attractive deals for all parties.

If you think your book is worth, say, $500,000 it's going to be far easier to get a better arrangement if you're at UBS than if you're "Ajax Financial Planning and Carpet Cleaning, Ltd."

That's just the way it is--all the joy of being alone means that you're going to be alone when it comes time to say adieu.

Oct 20, 2006 6:49 pm

[quote=Devil’sAdvocate][quote=Seeker15]

Another day, another new handle for NASD Newbie.

Is it a medication thing or just the little voices in his head driving this guy insane?

"Most managers don't think of themselves as the boss"?

Many think of themselves as the Messiah let alone a mere boss. If it was so great at wirehouse why are they an ever shrinking force both in asset and headcount? The bigger point is control;

http://www.ia-mag.com/article.php?article=6822

We all have to meet regulations but aside from that, we own our practices and can trade them. That's just one level of the equity concept you choose to ignore.

You don't have to agree Newbie but why all the anger?

[/quote]

I have no idea who Newbie is, but speaking for myself I have zero anger--I'm sitting in the cat bird's seat.

Wirehouses are going to great lengths to help older brokers sell their book to associates within the firm--normally junior members of the teams.

Because the firms are intent on keeping the book in house, yet feel a certain obligation to the retiring broker, the firms tend to work out some very attractive deals for all parties.

If you think your book is worth, say, $500,000 it's going to be far easier to get a better arrangement if you're at UBS than if you're "Ajax Financial Planning and Carpet Cleaning, Ltd."

That's just the way it is--all the joy of being alone means that you're going to be alone when it comes time to say adieu.

[/quote]

You know exactly who Nebie is.  You REEK of Put Trader/Soon2BGone, and I would be surprised if your latest handle is still active by Monday.  Even if the mods don't boot you after they see this post, you will eventually do something so annoying and offensive that it gets you kicked off.

You can't help yourself.  You'll do it.  It's like breathing for you.

Thanks for dropping by to entertain us once again.
Oct 20, 2006 11:23 pm

If you think your book is worth, say, $500,000 it's going to be far easier to get a better arrangement if you're at UBS than if you're "Ajax Financial Planning and Carpet Cleaning, Ltd."

Nothing could be further from the truth Newbie. The rule of thumb is pretty simple, the more employed you are the less you are likely to get for your book. It almost is always better to shop and place it yourself on the recruiting market if you are opting to leave the industry on the employment side.

Not only nuts but ill informed as well.

After a lifetime of big firms haircuts on true product concessions, over bloated middle managers (where you are suspected of coming from), inflated service costs at every turn you haven't seen anything until the lemming lifetime employee approaches the management about getting comp on accounts when they want to leave the business. If you think 3 points credit on an annuity that pays the street 7 was bad firm practice (and it is) try selling "your book" as a firm "employee". No wirehouse book goes off on average at the same multiple at FP Transitions for self-employed parties. Get a clue.

Again, if was flattering average wouldn't you think they would publish it? Most wirehouse careers end with a major theft attempt, litigation and or despair. While "Wall Street" was a flawed but fun movie they covered this part very well. You would have fit right in as a suck-up hack and flunky office goon. Go rent it this weekend.

80 posts since 10/19/06 newbie?

 

Oct 21, 2006 1:30 am

[quote=Devil’sAdvocate][quote=Seeker15]

Another day, another new handle for NASD Newbie.

Is it a medication thing or just the little voices in his head driving this guy insane?

"Most managers don't think of themselves as the boss"?

Many think of themselves as the Messiah let alone a mere boss. If it was so great at wirehouse why are they an ever shrinking force both in asset and headcount? The bigger point is control;

http://www.ia-mag.com/article.php?article=6822

We all have to meet regulations but aside from that, we own our practices and can trade them. That's just one level of the equity concept you choose to ignore.

You don't have to agree Newbie but why all the anger?

[/quote]

I have no idea who Newbie is, but speaking for myself I have zero anger--I'm sitting in the cat bird's seat.

Wirehouses are going to great lengths to help older brokers sell their book to associates within the firm--normally junior members of the teams.

Because the firms are intent on keeping the book in house, yet feel a certain obligation to the retiring broker, the firms tend to work out some very attractive deals for all parties.

If you think your book is worth, say, $500,000 it's going to be far easier to get a better arrangement if you're at UBS than if you're "Ajax Financial Planning and Carpet Cleaning, Ltd."

That's just the way it is--all the joy of being alone means that you're going to be alone when it comes time to say adieu.

[/quote]

Do you have anything to back that statement up, or is it just another bumper crop of your bullsh*t, Newbie?