Steifel-UBS. RUT ROW
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I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials.
[quote=thunderkwb]I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials. [/quote]
Why do you think they haven’t had much success w/ moving assets? I would think that the SF story would be much more appealing to a client than the confusion of MSSB. Especially from guys who have had long relationships with their clients (20 yr los). Just wondering…
Clients may not want to go to Stifel any more then they want to stay at Citi-morg.
Instead of moving twice once to Stifel and then out to another advisor they may stay at Citi-morg untill they find a honest firm to transfer to.Both of the guys never really invested in their business or tried to educate themselves , they just sold products, hardley gave advice. On top of that they were out the door 15 to 30 minutes after the closing bell. The clients I have inherited never talked bad about their experience with those brokers, but like the accounts and features here. Plus, for the same price they get a team that will offer more than just investment advice. Greenbacks- you are a real class act, you know that! You keep slamming the Citi and MS shows your insecurity, you keep talking trash while your clients are going watch our commercials and see more and more of our capabilities. Sooner or later, you see the ACATS come in, do yourself a favor focus on your own book before it is too late![quote=thunderkwb]I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials. [/quote]
Why do you think they haven’t had much success w/ moving assets? I would think that the SF story would be much more appealing to a client than the confusion of MSSB. Especially from guys who have had long relationships with their clients (20 yr los). Just wondering…
Thunder you are some what right I am pissed at the wires and the big banks.
My E&O goes up because of the crap they do and the bad name they give all of us.[quote=Greenbacks]Thunder you are some what right I am pissed at the wires and the big banks.
My E&O goes up because of the crap they do and the bad name they give all of us. [/quote]You habitually put out some of the most ridiculous, illiterate, near-incoherent nonsense I’ve ever read on any internet financial professional website. I doubt your E&O insurance rates have anything at all with large banks or brokerages. Sure, there’ve been some black eyes given to the industry by registered reps from wirehouses and banks, but there’s been no shortage of scandal in independent shops either.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The fact is you’re eternally pissed at banks and wirehouses because you’re just barely smart enough to know that none of them would hire someone with your obviously limited skill set. If you were just two IQ points lighter, you’d be blissfully aware of how you could never make the cut anywhere with even minimal recruiting standards. That’s not true universally of independents, but it clearly is true of you. Based on that anger, you’re here venting in the most ridiculous fashion 24/7/365.
Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
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You need to to stay at the firm you are with because you are not bright enough to think on your own.[quote=Greenbacks]Clients may not want to go to Stifel any more then they want to stay at Citi-morg.
Instead of moving twice once to Stifel and then out to another advisor they may stay at Citi-morg untill they find a honest firm to transfer to.[/quote]Honest firm...lmao...you mean a firm that hasn't imploded and needed bail out money....oh yeah that is Stifel I forgot.
The only reason they are not taking assets is because they don't have good relationships...nothing to do with how good or bad the firm they are leaving is and how good or bad the new firm is. We left In Jan, went to SF from Wachovia/AGE/Wells/Whatever and have taken over 90%...70%+ was over in the first month...it was VERY easy...Stifel has a great story, clients are unhappy, and if you have a good relationship they will follow...period
I concur. Had one of the few guys I didn’t get 6 months ago call me out of the blue to ask about acat’ing as he is getting no love at whatever AG Edwards is called now.
I have not read this post in full, but all of you employees out there need to recognize the basic truth not provided by your employer: Brand (firm) means very little. The relationship you have with YOUR client supercedes any impression of the brand.
We all work with the same, archaic FINRA rules (might I point out the $100 gift rule circa 1971) in the same markets under the same licenses. If you hire some entity for your b/d rather than the b/d hiring you, you will have proper alignment of values, period. If you are happy being an employee, fantastic since not everyone wants to run their own shop. If you are inclined to leave the employee ranks, then you will keep the clients if YOU are the product, the intellectual capital.[quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
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You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote]+1
[quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote] You're one slow learner, aren't you? Do you know what E&O covers? It doesn't cover the blanket of things you've called "scandals" on Wall Street. It covers what it says, errors and omissions. The companies offering you E&O insurance haven't paid a dime on Wall Street "scandals". I suggest you talk with your peers that are buying that same insurance and ask THEM what they've done to have your rates jacked up. Blaming your E&O insurance rates on events not even covered by E&O insurance is like a fool claiming his car insurance went up because of hurricanes in the Dominican Republic. Stick with your present situation, you wouldn't be employable elsewhere.[quote=alwaysaguest][quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote] You're one slow learner, aren't you? Do you know what E&O covers? It doesn't cover the blanket of things you've called "scandals" on Wall Street. It covers what it says, errors and omissions. The companies offering you E&O insurance haven't paid a dime on Wall Street "scandals". I suggest you talk with your peers that are buying that same insurance and ask THEM what they've done to have your rates jacked up. Blaming your E&O insurance rates on events not even covered by E&O insurance is like a fool claiming his car insurance went up because of hurricanes in the Dominican Republic. Stick with your present situation, you wouldn't be employable elsewhere.[/quote] +1^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[quote=nestegg]
^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[/quote] Egg, you are grasping for straws buddy, big time! I would have been out of the business years ago if that was my approach. I don't use fee based as a waiver for account fees, our team has never ever had an issue about explaining price because the value we have shown our client, and we our very transparent with our charges. Maybe it is an issue for you because your client can't get passed the Account fee to see your value, our maybe you just push them all in bonus product annuities, just a guess.[quote=thunderkwb][quote=nestegg]
^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[/quote] Egg, you are grasping for straws buddy, big time! I would have been out of the business years ago if that was my approach. I don't use fee based as a waiver for account fees, our team has never ever had an issue about explaining price because the value we have shown our client, and we our very transparent with our charges. Maybe it is an issue for you because your client can't get passed the Account fee to see your value, our maybe you just push them all in bonus product annuities, just a guess. [/quote] I was being sarchastic...laugh a little..it makes life more fun...the way you wrote your first post sounded exactly like what I posted though which I got a chuckle out of. As far as me...I have a good balance between Fee Based and Commission Based accounts...never done a Bonus Annuity in my life, and my clients don't pay any account fees regardless of acct size...I don't work for a bloated firm that needed a bailout and needs to nickel and dime their clients to death...so acct fees are a non issue to me or my clients. Oh yeah and we had our 13th straight year of record profits last year...and somehopw did that with no nickel and dime acct fees...amazing isn't it...oh yeah and no bailout money either. I was in your boat before, so I know how it is to try to work around the fees and find wqays to waive them etc...much nicer when you don't have to worry about silly things like that, and can focus on your clients!Point taken! My approach is these are my clients, regardless of your firm. If you do a good job for your clients they will follow you anywhere if your move is for the right reasons. Whether it us wirehouse guys poking fun of the small Indy guy or the indy criticizing the "evil" wirehouse that had a bailout, it boils down to how good of an advisor you are and your clients trust. Another words the sign on the door means nothing!