Sharing Retention Package

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Aug 6, 2007 3:29 pm

Any other AGE folks been asked to "share" their retention packages? If so what %? I have been asked to share 10% and I think that # is a little steep. Any thoughts?



Please refrain from telling me to go indy, etc. I'm predominately a stock and bond guy and enjoy the resources of a wirehouse.

Aug 6, 2007 4:16 pm

who is asking to "share" your package?

Aug 6, 2007 4:55 pm

Branch Manager wants us to share 10%. Our BM is sharing 10% of their retention package. However our BM is in a very different financial situation than us brokers.

Aug 6, 2007 5:02 pm
Brokermike99:

Branch Manager wants us to share 10%. Our BM is sharing 10% of their retention package. However our BM is in a very different financial situation than us brokers.



Share with whom--or is it who?  I suppose he's talking about support staff.


It would be a good idea to keep in mind the wisdom in the adage, "Go along to get along."


Have it taken out before taxes and figure that it was found money in the first place.

Aug 6, 2007 5:30 pm

You can't take the lump sum if you share it.

Aug 6, 2007 5:35 pm

We pay our FA a % of the business each month, plus bonus $ when we hit certain goals. We will share some of the bonus $ w/ her but not 10%....maybe along the lines of 5%.  If you are taking the yearly cash deal then 5% seems fare, you pay them as you get it.  The bonus loan is a different story.  We have to sign the deal, not them. I'll pay 1/6now and the rest every anniversary.

Aug 6, 2007 5:39 pm
shredder:

We pay our FA a % of the business each month, plus bonus $ when we hit certain goals. We will share some of the bonus $ w/ her but not 10%....maybe along the lines of 5%.  If you are taking the yearly cash deal then 5% seems fare, you pay them as you get it.  The bonus loan is a different story.  We have to sign the deal, not them. I'll pay 1/6now and the rest every anniversary.


It breaks my heart to see proof of how my beloved industry has lowered the standards for admission.

Aug 6, 2007 5:45 pm

my bad, FAIR

Aug 6, 2007 5:49 pm
shredder:

my bad, FAIR


How did you get out of high school without knowing that?

Aug 6, 2007 7:02 pm

How did you get out of high school without knowing that?


Why are you still posting on this forum? Aren't you retired? Dont you have better things to do? Do you truly think anyone gives a $hit what you say?


Go clean that mess out of your diaper and let this website go... Just... Let it go... Buh bye...

Aug 6, 2007 7:06 pm
blarmston:

How did you get out of high school without knowing that?


Why are you still posting on this forum? Aren't you retired? Dont you have better things to do? Do you truly think anyone gives a $hit what you say?


Go clean that mess out of your diaper and let this website go... Just... Let it go... Buh bye...



How do you figure he got out of high school without knowing that?

Aug 6, 2007 7:13 pm

Maybe he had a rich daddy who never loved him but wrote a big check to get his idiot son through high school...

Aug 6, 2007 7:22 pm
blarmston:

Maybe he had a rich daddy who never loved him but wrote a big check to get his idiot son through high school...


Could be, but probabaly not.  I think it's because the teachers came through the dumbed down schools.


You did too for that matter.

Aug 6, 2007 7:59 pm

But isnt that how you made it through school? And then your great college in Texas? And your fathers connections to get you into Wall Street where you plodded along your whole life before retiring or being forced out a couple years ago?


You live a worthless existence.


Aug 6, 2007 8:15 pm
blarmston:

But isnt that how you made it through school? And then your great college in Texas? And your fathers connections to get you into Wall Street where you plodded along your whole life before retiring or being forced out a couple years ago?


You live a worthless existence.



Nah I went to public schools.


Why do you think I went to college in Texas?  Is Williams in Texas?


My father had zero connections to Wall Street--less than zero for that matter.


I have more experience with Wall Street than every other poster on this forum put together.


I have forgotten more than small time brokers like you will ever know--but if you shut up and pay attention you might learn some things.

Aug 6, 2007 8:24 pm

I think most fcs take the upfront deal. If that shuts out the fa's from compensation, something else will have to be done for them. I hear of nobody talking up the 6 year equal installment option.

Aug 6, 2007 8:47 pm

From a time value of money perspective, taking the upfront money is a no

brainer. It does cut out the FA's, but who says you just can't up the monthly

amount you contribute to them?

Aug 6, 2007 8:54 pm

Personally I am giving all mine to teh staff...I mean its found money anyway

Aug 6, 2007 9:27 pm

I have more experience with Wall Street than every other poster on this forum put together.


You were a joke a year ago, and you are still a joke. You come back and a new generation of posters have no clue who you are... but you come back and post the same old questions just to get a rise so you can spout all your wisdom. Your "wisdom on Wall Street hiring practices", your "wisdom on pain thresholds of clients", your "wisdom that present day brokers have no talent or clue as to what they are doing because some choose to outsource the asset management..."


Put- you were a douche then and you are still a douche. Maybe the newbies dont know yet but most of us do. And it wont take long for the rest to catch on... Go play with your rat-dog and leave this forum to people who are actually STILL in the business...

Aug 6, 2007 9:33 pm
blarmston:

Go play with your rat-dog and leave this forum to people who are actually STILL in the business...



Do you think that when you've been around for thirty five to forty years you'll know more than you do now?