WFA is hiring new advisors!

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Dec 23, 2009 8:55 pm

My friend was just hired by WFA as a trainee!!!!! Did anyone know about this??

Dec 23, 2009 9:07 pm

This is certainly exciting news. 

Dec 23, 2009 9:12 pm

How interesting.  Let's see......I'll stretch it and give him a 1 in 10 chance of being around in a couple of years.  I'll put my next forefront payment on it.  Any takers?

 
Oops, maybe I read your post wrong.  What part did you want to know if we knew about?  That you have a friend,  that WFA is hiring jackasses now and calling them trainees, or your friend the jackass got hired by a firm that is losing bigger producers left and right.
Dec 23, 2009 9:16 pm

I'll take that bet.  I can show him how to always have a crumpled up piece of paper with random names on it in his back pocket for that time when his manager unexpectedly asks him for his "prospect list".  They'll give him the first year for free, then this should buy him another, and I win the bet.  I am a rainmaker.

Dec 23, 2009 9:17 pm

And this is a shock? They need to fill all the empty seats somehow! 

Dec 23, 2009 9:18 pm
Bud Fox:

How interesting.  Let's see......I'll stretch it and give him a 1 in 10 chance of being around in a couple of years.  I'll put my next forefront payment on it.  Any takers?

 
I will tell you this.....He made it once at Merrill, moved out of state and worked as a wholesaler. He is a very hard worker and has a good chance. I just can't believe this place is offering salary!!!!
Dec 23, 2009 9:20 pm

Every Monday, throw some fresh, partial filled acat forms across the desk.  You know, in case the manager stops by. That's what I do.  I am a rainmaker.

Dec 23, 2009 9:21 pm

Yeah, they do give the rookies a salary draw......

 
You lost already Winston.  I will have no forefront money to hand over because I will not check the POR box.
Dec 23, 2009 9:23 pm

Ask if they offer "wrap fee accounts"?  Managers love that.

Dec 23, 2009 9:24 pm

Better yet, ask why the "older brokers" don't accept "managed money" as part of their business.  Your friend will be VP the next day.

Dec 23, 2009 11:37 pm

I find it amusing that companies like WFA and ML lost tons of seasoned advisors over the past year and now they go on hiring binges. How long and how much money spent on new hires will it take to replace the amount of assets that were moved out?   What % of the new hires will ever become top producers? All of these companies took a giant leap backwards in terms of it's sales force talent this year.

Dec 24, 2009 11:20 am
Winston Smith:

This is certainly exciting news.






This might be post of the year.



funny

Dec 24, 2009 11:26 am
mlgone:

oh and tell them you love "structured products"!





UBS has more witch hazel structured alternative reverse repo principal protected screw the client garbage then any firm on the planet.

I get like 3 emails a day on this crap.   dumb

Dec 24, 2009 1:36 pm
Omar:

I find it amusing that companies like WFA and ML lost tons of seasoned advisors over the past year and now they go on hiring binges. How long and how much money spent on new hires will it take to replace the amount of assets that were moved out?   What % of the new hires will ever become top producers? All of these companies took a giant leap backwards in terms of it's sales force talent this year.


 
Force out people under 250K with cuts or some BS payout..then couple thousand point move on the DOW, "we better get our headcount back up, the market is better" then hire hundreds of trainees with training, failed series 7 exams, then the about 97% attrition rate I have seen the past 10 years.  Makes sense to me!!  Gosh the way this business is run in amazing, others in the real business world would not believe the model.  Also then pay someone on a manipulated t-12 which most brokers rarely ever duplicate at the new firm.  Pure Genius.
Dec 24, 2009 2:00 pm

Sure seems like there is a lot of sour grapes around here. I've yet to get an answer where a better deal is not to include indy. This ends my second calender year and I've received over $80,000 in bonus $$ over and above grid. I'm crying all the way to my upper mid 6 figure salary.

Dec 24, 2009 2:27 pm
Gaddock:

Sure seems like there is a lot of sour grapes around here. I've yet to get an answer where a better deal is not to include indy. This ends my second calender year and I've received over $80,000 in bonus $$ over and above grid. I'm crying all the way to my upper mid 6 figure salary.

 
I don't see any sour grapes???? I think it's insane to pay a trainee right now. There are far less assets available. If there was a 90% washout rate before, I will be terrified at the new one. 99.9??? You don't make that kind of money or you wouldn't be here. Stop it.
Dec 24, 2009 2:31 pm

Guess you don't know how this business works. As far as the cash, yes I do. That fact you find that unbelievable is a reflection of you. It takes huge balls to make it in this gig now or then. If you think it's hard now try starting in a protracted bull market.

Dec 24, 2009 2:47 pm
Gaddock:

Guess you don't know how this business works. As far as the cash, yes I do. That fact you find that unbelievable is a reflection of you. It takes huge balls to make it in this gig now or then. If you think it's hard now try starting in a protracted bull market.

 
Plenty make that kind of money, however they are far too busy for silly forums. Stop it. Bull markets are easy.......buy buy buy buy buy! Again, stop it. I have been in this biz for quite a while my friend.
Dec 24, 2009 2:59 pm
BigKahuna:
Gaddock:

Guess you don't know how this business works. As far as the cash, yes I do. That fact you find that unbelievable is a reflection of you. It takes huge balls to make it in this gig now or then. If you think it's hard now try starting in a protracted bull market.

 
Plenty make that kind of money, however they are far too busy for silly forums. Stop it. Bull markets are easy.......buy buy buy buy buy! Again, stop it. I have been in this biz for quite a while my friend.
 
The dupe writes ..." I think it's insane to pay a trainee right now. There are far less assets available"
 
It's called the "Merrill Model" Look it up and all will be revealed.
 
 "they are far too busy for silly forums" Oh like yourself meat head?
 
In a protracted bull market people see their statement increase each month and the last person that they want to talk to is a broker. But then you've never been there hence your lack of understanding.
 
What's up with the "stop it stop it stop it" routine. Are you menstruating?
 
PS you are not my friend.
Dec 24, 2009 3:33 pm
Gaddock:

Sure seems like there is a lot of sour grapes around here. I've yet to get an answer where a better deal is not to include indy. This ends my second calender year and I've received over $80,000 in bonus $$ over and above grid. I'm crying all the way to my upper mid 6 figure salary.


Upper middle 6 figure, does that mean 800,000++ Take home?  That would be amazing.