Smith Barney payout cut coming?

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Nov 22, 2006 4:54 pm

Word on the street is that a cut is coming in a week or two. Merry Christmas to you SB!

Nov 24, 2006 11:29 am

It sure ain't MERry, is it?


There was a Dow Jones Newswire story on the Smith Barney payout cuts on the 21st.


IM me if you wish to read it.

Nov 24, 2006 12:21 pm

As if last years payout were not enough.  Cant wait to hear the grand news from my branch manager and the spin they put on it.

Nov 25, 2006 8:29 pm

I don't know what the changes are, but I can already tell you what the spin will be: 1. It's "revenue neutral" for us and the firm. 2. All the other firms are going to be doing it, too.  It's always the same.

Nov 25, 2006 8:58 pm

This is exhibit one as to why I went independent.  I had a different payout grid practically every year and each one found a way to pay me less for each dollar of production than the previous one.  Last year, my B/D announced (1) lower ticket charges on equity trades, (2) elimination of low balance charges on a fee-based platform and (3) an INCREASED payout grid for reps.


After years of being screwed by a corporate godfather, I found this to be a refreshing change, to say the least.

Nov 27, 2006 9:56 am

I hear they will cut the payout to 20% on the first $5k of production (per month) but stop charging reps for errors.

Nov 27, 2006 10:06 am
NOFX:

I hear they will cut the payout to 20% on the first $5k of production (per month) but stop charging reps for errors.



Staying with a wirehouse after more than 5 years is like being charged for an error every time you drop a ticket.....


(sorry guys couldn't resist)

Nov 29, 2006 7:18 pm

The guy said to me that it was a 20% on the first $5,000 each month but  that it was going be about the same payout over all.


I said how can that be? Are they upping the payout on subsequent dollars?


He said, No.


I'm anxious to hear how this pay cut is structured (that's how I wound up back here, I googled Smith Barney Payout and this thread was tops on the list). Can some one please post a link to the deal?


Thank you,


Mr. A