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Nov 26, 2009 6:38 am

This guy's a loser.

Nov 26, 2009 2:59 pm

one thing I can guarantee about this newbull- he’s basically a rookie broker recently brought in on desperation by the recently canned market directors of BAI.  He’s got no book and he’s hanging on for dear life before Merrill puts him on a plan to raise production or get out.  A 15% payout increase means he’s going from 20 to 35%.

I just left BAC and I was at 36% and at in Jan I would’ve been at 43%- plus, possibly, another 7 or so w/ bonus- so I can see a 15ish% increase- but guess what.  Real brokers don’t run around advertising friggin ACATs their pulling.  That’s really weak.  I can acat a 25 million dollar account stocked with treasuries and who really cares?  Are you going to tell the client it’s time to go managed for 10bps?  Wait 8 years till all those 10s come due that somebody smart bought when they were yielding 5% right before the stock market peaked and the then collapsed?

he’s a rook and he’s sipping the koolaid.  He has no other choice because he’d be dead anywhere else.  probably came over from Wamu or Wachovia within the last yr.

Apr 16, 2011 7:32 pm

[quote=cutacheck]While the CMA account is a premier banking solution, according to some people in the firm they are looking for a way to integrate the CMA into a BAC proprietary product so that it can be linked to BAC online. Also the signature visa that credits atm fees will also dissapear. Apparently the Bank does not want to pay you for using other bank ATM's. Anyone else hear this.[/quote]

The only reason for ANY of this BofA product pitching nonsense is to make the clients more sticky to the firm and hence a pain in the butt to ACAT out if the advisor leaves.

Apr 29, 2011 6:27 pm

[quote=thenewbull]I don't want to be the bearer of bad news to all you "brokers" out there, but with BAI brokers bringing their huge books of business (admittedly, were padded by bank referrals for years) to a wirehouse platform complete with top notch technology......well, they (we) will put all these legacy ML and other legacy wirehouse guys on notice starting Oct. 26th.

MSSB, UBS--get ready to have accounts ripped out from underneath you because if we can do $800k (60% annuitized managed money, not L-share annuities) in production with bank brokerage tools and platform, just imagine what we will do beginning the 26th.[/quote]

On the contrary, I hate to be the bearer of bad news.  The only reason you're doing 800k is because you get fed clients all day long.  The ML platform isn't going to make you a bigger producer, big guy.  You actually have to prospect now.