POA/PMDs: Where Are They Now?

or Register to post new content in the forum

11 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Feb 7, 2009 10:20 am

If any of my fellow former POA/PMDs still visit this board, I'm curious how we're all fairing and whether you've been able to land a position in the industry or out? (I realize it's only been a few days, weeks or months depending on your branch.)



WFC/WS has welcomed me with open arms and a very generous 18 month contract. Hurdles and payout are both better than anything ML ever offered for someone just a few years past their 7/66.



I'll always be grateful for the start the old pre-BofA Merrill gave me in this business, but now I feel like spring training is over and it's time to start kicking a$$ and taking names.



Hope others were able to stay in the game too!

Feb 7, 2009 11:04 am

Congratulations!!! How many years were you with Merrill/and as a POA. In my area, WS has pretty much frozen hiring unless you have  transferrable book of business of 10MM or more in AUM. The six in my office that were let go are looking, one has joined a bank and two left the business.

Feb 7, 2009 12:51 pm

I heard some of the guys let go from our complex were going to receive offers from WS.

Feb 8, 2009 4:14 pm

Most from my office who were let go did not really have a book and that is including a lot of recent distributions.  For those with a book of near $10MM, I would strongly recommend that they consider joining an RIA.  I know one guy who is trying to find a few recently dismissed POA/PMDs who have a $5-10MM book that would follow them.  He will get them up in running under his RIA and then once their book gets large enogh, help them start their own RIA.

--WM

Feb 9, 2009 7:33 pm

I decided to leave the business.  I had only been in production for two weeks and feel like this is obviously not the best time to be starting out.  I just accepted a position as a financial analyst with a regional medical center. 

 
Good luck to all my fellow PMDers!
Feb 9, 2009 8:57 pm
pursuing happyness:

I decided to leave the business.  I had only been in production for two weeks and feel like this is obviously not the best time to be starting out.  I just accepted a position as a financial analyst with a regional medical center. 

 
Good luck to all my fellow PMDers!




Would you like us to call you when they ring the "best time" bell or will you still be a pussy?

Feb 9, 2009 9:03 pm
Merrill Lynched:

If any of my fellow former POA/PMDs still visit this board, I'm curious how we're all fairing and whether you've been able to land a position in the industry or out? (I realize it's only been a few days, weeks or months depending on your branch.)



WFC/WS has welcomed me with open arms and a very generous 18 month contract. Hurdles and payout are both better than anything ML ever offered for someone just a few years past their 7/66.



I'll always be grateful for the start the old pre-BofA Merrill gave me in this business, but now I feel like spring training is over and it's time to start kicking a$$ and taking names.



Hope others were able to stay in the game too!



Wow...clever move...you went from being an employee at one brokerage firm owned by a bank on government life support to another bank-owned brokerage firm that was just acquired by another bank to save it from collapse.  I'm sure potential clients will be impressed with your forethought.

Feb 13, 2009 8:37 pm

[/quote]Would you like us to call you when they ring the "best time" bell or will you still be a pussy? [/quote]



Classic.

Feb 13, 2009 8:41 pm

The blind still lead the blind.

Mar 10, 2015 6:35 pm

HELP! Does anyone out there have a 2007 and or 2008 POA handbook? I lost mine and desperately need a copy. I'll pay for copying and FedEx.

Mar 12, 2015 5:48 pm

The "best time" bell is rung right before the "bull market" bell is rung.

Everyone knows that!