WFA--There seems to be 2 voices
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They are going to cut the CAAP payouts. I am going to fire them because the performance has been poor. But, I am irritated that they are doing this. I think that they view us as high paid clerks, and they are going to rectify the situation. To me the situation is bleak, I don’t relish the thought of going somewhere else, but I feel that my back is against the wall.
[quote=Tropic Lightning69]They are going to cut the CAAP payouts. I am going to fire them because the performance has been poor. But, I am irritated that they are doing this. I think that they view us as high paid clerks, and they are going to rectify the situation. To me the situation is bleak, I don’t relish the thought of going somewhere else, but I feel that my back is against the wall.
[/quote]
Trust me you won’t look back…I have been out since Jan and things went better than I could have ever imagined! There are still firms that care abotu advisors and clients!
Allocation advisors ie Caaps Plus, foundation, Ibbotson, Laffer clipped the advisors 25 bp. An FA with 10mill just got cooked for 25k gross for next yr. Sadder yet the outstanding performance they had the last few yrs has been cooked lately. Dont even know the team who is running it anymore…previous guys who mgd it have all left the firm.
Premier ADv- While I agree with most of your answers…the info on the checking accts came from a group of folks yesterday who were at a meeting with the top folks in the firm this week. And no Im not nostradamus.
Seems to me the payout at WFA is as good or better than any of the bank/wires.
Am I wrong? That being said don't they all pretty much suck? As for CAAP I bailed the few clients I had in that well over a year ago and none of the business I do is haircuted beyond grid. If so and if not indy, why leave?[quote=AGEMAN][quote=Gaddock]Seems to me the payout at WFA is as good or better than any of the bank/wires.
Am I wrong? That being said don't they all pretty much suck? As for CAAP I bailed the few clients I had in that well over a year ago and none of the business I do is haircuted beyond grid. If so and if not indy, why leave? [/quote] Yes, I agree. WFA is pretty fair with the pay exept for the haircuts and what we don't get paid on. (MM) I have done due diligence on most of the other firms and have decided to stay put. The only thing I may do is go Finet at some point, but would not go for the cash to Morgan or Merrill to me that would be a step down.[/quote] That's been my conclusion as well. I want to create a pim type set up and then finet. Things can and will change but short of going indy it's the best gig going I'm aware of at this time. Again, if I'm wrong please let me know.[quote=tdude]Allocation advisors ie Caaps Plus, foundation, Ibbotson, Laffer clipped the advisors 25 bp. An FA with 10mill just got cooked for 25k gross for next yr. Sadder yet the outstanding performance they had the last few yrs has been cooked lately. Dont even know the team who is running it anymore…previous guys who mgd it have all left the firm.
Premier ADv- While I agree with most of your answers…the info on the checking accts came from a group of folks yesterday who were at a meeting with the top folks in the firm this week. And no Im not nostradamus.[/quote]
I still have all my ETF portfolio’s with the guys that USED to run CAAP, and created it…they bailed from the Wachovia/Wells Debacle a year and a half or so ago…my new firm has them in our managed money platform…so it was a seemless transtion and the performance was much better than whoever took over those portfolio’s at wells/wach!
A little here, a little there. Eventually, they will squeeeze us into a salary structure with a little incentive structure for selling checking accounts and auto loans. gotta luv the future of this place. Glad I am staying positive. This allocation advisors take away is one of many and many more to come.
[quote=Ferris Bueller] [quote=nestegg]
[quote=tdude]Allocation advisors ie Caaps Plus, foundation, Ibbotson, Laffer clipped the advisors 25 bp. An FA with 10mill just got cooked for 25k gross for next yr. Sadder yet the outstanding performance they had the last few yrs has been cooked lately. Dont even know the team who is running it anymore…previous guys who mgd it have all left the firm.
Premier ADv- While I agree with most of your answers…the info on the checking accts came from a group of folks yesterday who were at a meeting with the top folks in the firm this week. And no Im not nostradamus.[/quote]I still have all my ETF portfolio’s with the guys that USED to run CAAP, and created it…they bailed from the Wachovia/Wells Debacle a year and a half or so ago…my new firm has them in our managed money platform…so it was a seemless transtion and the performance was much better than whoever took over those portfolio’s at wells/wach![/quote]
performance sucked at BOTH places.[/quote]
Much better with Keller and O Grady than the newbs at Wach that took over…that said I moved alot into Joe B’s ETF portfolio…kicked ass last year, as he actually called the correction right!