Why are you still with MSSB or MER?
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[quote=A b] [quote=Sportsfreakbob]
The rest of them got lucky
[/quote]
funny. so wrong. not much luck in this MF biz. You sound bitter.
[/quote]
You sound clueless
[quote=Greenbacks]Why are reps still with a wire?
Same reason some people work at Walmart and Wendy's they are not bright enough to run there own shop. They also have no idea how to manage money on there own. They need to have someone hold there hand tell them what to do and how to do it. Kiss up the BM and suck up to the big guy in the office and hope he drops a turd so they can jump on it.[/quote]
Congratulations, you are independent and happy. What I don't understand is all your animosity towards the wire houses and the wire reps?
Where did all the bitterness come from? Were you fired by one of these firms? Or, is the bitterness deeper seeded in your life?
Maybe your mother should have come down off the pole more often and hugged you.
This is all pretty crazy. I started at MSSB yesterday and I have heard NOTHING about assets being passed on to me or anyone else as of yet. Does this happen often? Are there branches that don’t do it at all?
Wow…the angry from the indie crowd. You guys are so uptight! Why is it you guys always mention sucking up to managers and so on? I quite frankly have never really had much interaction with either the good or bad managers that have come along. They have never been part of my business. Maybe you think you were mistreated…this can be a tough business but failure is nothing to take personally. Have fun when you go to work. This kind of anger has to manifest itself to your clients. Spend some time in self reflection. Maybe take one of those fly by night annuity company trips to Sedona and find a vortex or two.
Again I say who are you trying to convince? Stay where you are! I promise you are not my competition. We do not want you back. Stay with the golf shirts and tjmax slacks and spew how great it is to be independent. You look real professional. Keep up the good work. As to the assets...i have 136mm and maybe 10mm came from you guys leaving. thats ok..i will take them. And again thank youGoing indie really sux. shhhh don’t tell the wire guys.
Oh crap, 11:00, time to hit the links.
[quote=mnymker] Wow…the angry from the indie crowd. You guys are so uptight! Why is it you guys always mention sucking up to managers and so on? I quite frankly have never really had much interaction with either the good or bad managers that have come along. They have never been part of my business. Maybe you think you were mistreated…this can be a tough business but failure is nothing to take personally. Have fun when you go to work. This kind of anger has to manifest itself to your clients. Spend some time in self reflection. Maybe take one of those fly by night annuity company trips to Sedona and find a vortex or two.
Again I say who are you trying to convince? Stay where you are! I promise you are not my competition. We do not want you back. Stay with the golf shirts and tjmax slacks and spew how great it is to be independent. You look real professional. Keep up the good work.
As to the assets…i have 136mm and maybe 10mm came from you guys leaving. thats ok…i will take them. And again thank you[/quote]
I was pretty involved in the P&L of a wirehouse firm. Did you know almost 5% of your comp goes to pay for those “good or bad managers that have come along and have never been a part of your business.” Seems somewhat silly to pay 5% for something that does nothing for you.
Registered Rep just posted an article regarding a Cerulli Report that states wirehouses will see a net loss of $188 billion in assets. Wirehouse market share will drop to 40% by the end of 2012 from 47% in 2008. Firms pay $12,000 to read that report, so I think Cerulli is a trusted source. I’m a regional guy, but we’re growing just as fast as the Indy’s. If your $136mm represents 47% of what’s out there, that means there’s $289mm total, or $153mm you don’t have. If Indy’s and Regionals take you down to 40% over the next couple of years, you’ll have roughly $116mm.
I think that’s a big enough number to take this seriously.
Your old ML office got a new coffee maker??! Wait till Ken hears about THAT! He’ll put an end to such frivolous expenditures in no time.
[quote=mlgone]wirehouse tools…
I was at a wire, still have friends there but these tools posting here saying "thanks for the assets" was represented a lot in my branch. Out of 82 advisors in my branch I could honestly look at maybe 1 who built his own book. The rest wait until the assets get passed to the outside offices. What a joke[/quote]THANK YOU!!!!!!!!!!!!
[quote=mnymker]
As to the assets...i have 136mm and maybe 10mm came from you guys leaving. thats ok..i will take them. And again thank you[/quote]But be honest - your point isn't that you only have $10MM in inherited assets - your pointis that you have $136MM. Like i said, another big swingin d*** from the wire's.
Look, i am not and would not say that Indie is for everyone - I made the personal decision that it is for me - i just take exception when some BSD from a wire decides to come on here and make assenine comments about golf shirts and TJ Maxx slacks. Please clarify for me MNYMKR, how you come to the conclusion that all indies are not professional.
Just an FYI, i got home tonight at 7PM, and the first thing i did when i got home, was take off my cufflinks. There, feel better now?
You are the kind of guy I really love to hate. I cant wait till your wire fixes your grid to reflect the fact that you are a bank employee now.
But again, that comment is directed only towards you - i dont make generalizations about groups of people based on where they work or the lifestyle they choose.
BSD
[quote=Sportsfreakbob]
[quote=A b] [quote=Sportsfreakbob]
The rest of them got lucky
[/quote]
funny. so wrong. not much luck in this MF biz. You sound bitter.
[/quote]You sound clueless[/quote]
Not much luck in this biz, sport freak.
The only long term big producers Ive seem that I thought had it handed to them was a couple dad-son teams.
Inherited accounts are bonuses for not taking a deal. No one get so many to build a million dollar book.
“family money” Ive never seen any broker with so much family money they can do over a mil. im sure there are some. but rare.
aint luck. you just sound pissed cause you failed and bolted
[quote=Sportsfreakbob]
[CONGRATULATIONS!!!You win the award for 2009 Most Assenine Post!What a crock of sh*t.I was at a wire for 10 years, and was 1st and 2nd quintile every month of those 10 years until the last two, when i made the mistake of going into management. [/IMG][/quote]
bingo.
Gave up a good book to go into management?
Bear market came and you out the door.
Id be bitter too brother. sorry
AB - You’re just workin your book.
We all have our point of view.
I didnt give up my book, actually. I kept it. I was not that stupid. After keeping it intact while i was in management, but doing no prospecting, my book was still big enough to support my move to Indie. And no, i wasnt permitted to feed myself when a broker left to take a check or go indie. I was watched closely in that regard.
So wrong again.
Nice Avatar tho, is that you?
yes
thats me. i am a stripper/model/million dollar producer.
Ab stand for Anne Bonner, my name (pronounced “bone-er”