Recruiting Deals

or Register to post new content in the forum

62 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.
Sep 15, 2008 12:23 pm

For those producers considering monetizing their business - send me a private message.  I have the national recruiting contract at two wire houses and one super regional.  We can discuss platform as well as deals ... but remember, without a good platform that makes sense for you and your clients the deal is irrelevant.  We will discuss my background and qualifications as well as your business mix and the current recruiting environment.

Sep 17, 2008 11:42 am

I have had an overwhelming response from Merrill FC's - if you are at Merrill and need to know what your options are PM me.

Sep 17, 2008 12:02 pm
Pinnacle:

if you are at Merrill and need to know what your options are PM me.

 
I would think your options at ML are the same as at any other company... stay or go.
Sep 17, 2008 1:15 pm

If anyone would care to place an intelligent post rather than a PM I would gladly respond.  As to ML FC's decision being simply "stay or go", it runs a little deeper at the number one firm as far as FC loyalty goes.  The retention package about to be offered will have to be reviewed and compared to the value that other firms are willing to place on the same book of business.  ML FC's have a varying mix of business and product within their books and have to understand which firms it is more easily transitioned into a different platform.  Changing firms is a much harder process than most people will have you believe.  Most of us know FC's that took the biggest check without asking the right questions or doing the research only to either be out of business or to never regain the assets or production they once had because the firm is a bad match.

Sep 17, 2008 1:34 pm

A year from now it will be interesting to see how many stayed vs how many departed. But I would be most interested to see how many signed on at another wirehouse & collected a check vs how many went the independent route.

Sep 17, 2008 2:06 pm

I think that a year from now we will see the majority of the top third of Merrill FC's at different firms.  Most of these FC's have been with Merrill for most if not all of their career.  The number that will go independent  in my opinion will be low due to the business model that Merrill FC's are taught. 

Sep 17, 2008 9:26 pm
Pinnacle:

I think that a year from now we will see the majority of the top third of Merrill FC's at different firms.  Most of these FC's have been with Merrill for most if not all of their career.  The number that will go independent  in my opinion will be low due to the business model that Merrill FC's are taught. 

Gee, think you have a vested interest in that kind of outcome???
Sep 17, 2008 9:42 pm

And where are you suggesting ML reps go lol...MS.....UBS....LMAO....ummm in a week or two there will be about 2 firms left...jump now and get bought next month!

Sep 17, 2008 9:43 pm

I believe the retention package will be made attractive to the first and second quintilers, and just ok for the 3rd quintile. The fourth and for sure the fifth quintilers will be dead in the water.

Sep 17, 2008 9:46 pm

You could make that point.  However, the truth of the matter is that I started my career @ Merrill and still have many friends there.  The basis for my comment is that if your current firm offers you 50% of your T12 and you have to sign for 7 years - but your current firm has just been purchased and the reality is that it is no longer your current firm - a better platform and a value of 200% of T12 with a replacement of deferred comp with a stock that has a higher percentage chance of appreciation over the next 7 years makes sense.  Morgan has already hired numerous high level positions and a great number of Merrill large producers - I see this trend continuing.  Just trying to provide an educated opinion whether I am involved in a placement or not.

Sep 17, 2008 9:48 pm

in my office this has created less uncertainty and at least for now we can just focus on the market and our clients and not what will happen to the firm.  We can finally take our eyes of the stock and stop fretting about the survival.  It is what it is.


Keeping the name of the firm already is one step ahead of the last big merger, Wachovia.
 
Also, the people in place to run the brokerage also has created a calm.   As the packages come in, the picture will become clearer for everyone.
Sep 17, 2008 9:53 pm
rocky:

in my office this has created less uncertainty and at least for now we can just focus on the market and our clients and not what will happen to the firm.  We can finally take our eyes of the stock and stop fretting about the survival.  It is what it is.


Keeping the name of the firm already is one step ahead of the last big merger, Wachovia.
 
Also, the people in place to run the brokerage also has created a calm.   As the packages come in, the picture will become clearer for everyone.
 
I echo those comments for my office.  It will be interesting to see what happens when the retention offers come out.  I am expecting to lose an advisor or four out of my office.
Sep 17, 2008 9:58 pm

Rumor has it at 50-60% for top producers - 30% for mid level - haven't heard about smaller producers.

Sep 17, 2008 10:03 pm

If that rumor pans out BAC will lose allot of producers.

Sep 17, 2008 10:17 pm

That's all I'm trying to say...LOL.

Sep 17, 2008 10:25 pm
Broker Fee:

If that rumor pans out BAC will lose allot of producers.

 
rumors are everywhere.  No need to worry about that now, focus on the clients and then when the deal comes out you can make a informed decision.  
 
The other wildcard is the current market enviroment and not all clients are thrilled right now.
Sep 18, 2008 4:04 pm

what level GDC is 1st, 2nd, 3rd and 4th quartiles?

Sep 18, 2008 5:44 pm

Figure on 1rst quintile being roughly 2.5 mm+

Sep 18, 2008 9:43 pm

what happens if you take a deal at a new firm for say 7 years and 200%, and your new firm is bought out....

Sep 18, 2008 10:12 pm
tired:

what happens if you take a deal at a new firm for say 7 years and 200%, and your new firm is bought out....

 
You go indy, like you should have done the first time...