When was your first?
Made my first transaction today: sold 20 shares of Dell and the person was then nice enough to close her account so she could open a new one with me (wtf?).
I then got bum rushed and had my tie cut in half
some of us have not hit production yet… u r joking about the tie thing??
And you’ve been giving you’re opinion for months
[quote=anabuhabkuss]
Made my first transaction today: sold 20 shares of Dell and the person was then nice enough to close her account so she could open a new one with me (wtf?).
I then got bum rushed and had my tie cut in half
[/quote]
How much was your first commission?
You should be shorting Dell…
[quote=bankrep1]And you've been giving you're opinion for months [/quote]
nothing production related...
Yes the tie thing is no joke! How could I make that up?
oh and today I’m about to rollover my first 401k. I should have bought some pants from Wal-Mart.
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[quote=P G D M]
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[/quote]
Wow! Nice bonds! 5.7% to the broker. It's unheard of. That's why I don't believe you.
[quote=knucklehead][quote=P G D M]
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[/quote]
Wow! Nice bonds! 5.7% to the broker. It's unheard of. That's why I don't believe you.
[/quote]
It was an odd lot. When you sell odd lots you are allowed a larger commission.
Plus my Mother did not object. I think she would have paid a price that include $300 but I do not believe the firm would have allowed it even though it was an odd lot.
[quote=P G D M][quote=knucklehead][quote=P G D M]
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[/quote]
Wow! Nice bonds! 5.7% to the broker. It's unheard of. That's why I don't believe you.
[/quote]
It was an odd lot. When you sell odd lots you are allowed a larger commission.
[/quote]
What sort of bucketshop are you at where there's such a thing as a 5.7% YTB?
[quote=mikebutler222][quote=P G D M][quote=knucklehead][quote=P G D M]
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[/quote]
Wow! Nice bonds! 5.7% to the broker. It's unheard of. That's why I don't believe you.
[/quote]
It was an odd lot. When you sell odd lots you are allowed a larger commission.
[/quote]
What sort of bucketshop are you at where there's such a thing as a 5.7% YTB?
[/quote]
It was an odd lot. The 5% thing is a guideline and if the firm can explain why they charged more than 5% the NASD will normally allow it.
My manager arranged the trade, the client was a related account and the customer did not complain.
My mother paid $200. 5% would have been a bit more than $175. It is not an issue. As I said I could have charged $3,800 for the bonds and it would have been OK with the client.
You charged your mother a commision
You must work in a wire house and they are teaching you that it is all about you and the firm getting paid and screwing the client! Even your own mother!
[quote=Greenbacks]
You charged your mother a commision
You must work in a wire house and they are teaching you that it is all about you and the firm getting paid and screwing the client! Even your own mother!
[/quote]
My mother wanted to pay a commission, she would have paid even more if it would make me look good in my boss's opinion.
[quote=P G D M][quote=Greenbacks]
You charged your mother a commision
You must work in a wire house and they are teaching you that it is all about you and the firm getting paid and screwing the client! Even your own mother!
[/quote]
My mother wanted to pay a commission, she would have paid even more if it would make me look good in my boss's opinion.
[/quote]If a customer voluntarily pays you more, it's called a tip.
Enjoy it, because it's your last one.
No manager will be impressed because you sold an odd lot of bonds to your mother. Focus on producing with new clients.
[quote=P G D M][quote=mikebutler222][quote=P G D M][quote=knucklehead][quote=P G D M]
My first client was my Mother who wanted to buy some municipal bonds.
I asked my manager for an idea and she looked on her computer and found $4,000 worth of City of Dayton Ohio general obligation bonds.
My Mother paid around $3,700 for them including $200 in gross for me.
Nobody cut my tie in half. That was a great day. I love this business.
[/quote]
Wow! Nice bonds! 5.7% to the broker. It's unheard of. That's why I don't believe you.
[/quote]
It was an odd lot. When you sell odd lots you are allowed a larger commission.
[/quote]
What sort of bucketshop are you at where there's such a thing as a 5.7% YTB?
[/quote]
It was an odd lot. The 5% thing is a guideline and if the firm can explain why they charged more than 5% the NASD will normally allow it.
My manager arranged the trade, the client was a related account and the customer did not complain.
[/quote]
None of those comments change the fact that it's a low rent outfit that would allow a 5.7% YTB......
My manager arranged the trade, it was a year ago.
I have been doing what the manager asks me to do and she is very happy with me.
So is my mother.
[quote=Greenbacks]
You charged your mother a commision
You must work in a wire house and they are teaching you that it is all about you and the firm getting paid and screwing the client! Even your own mother!
[/quote]
I'm not aware of any wirehouses that would allow 5.7%....
[quote=mikebutler222]
None of those comments change the fact that it's a low rent outfit that would allow a 5.7% YTB......[/quote]
The low rent outfit is UBS and the amount of money you are complaining about is less than $25, the manager specifically approved the trade and the charge, and the customer did not complain.
Don't be jealous because you don't have a mother with $3,700.
[quote=P G D M]
[quote=mikebutler222]
None of those comments change the fact that it's a low rent outfit that would allow a 5.7% YTB......[/quote]
The low rent outfit is UBS and the amount of money you are complaining about is less than $25, the manager specifically approved the trade and the charge, and the customer did not complain.
Don't be jealous because you don't have a mother with $3,700.
[/quote]
Great, I just read the other thread....
Geezze, Putsy, seek professional help...
[quote=Greenbacks]
You charged your mother a commision
You must work in a wire house and they are teaching you that it is all about you and the firm getting paid and screwing the client! Even your own mother!
[/quote]
What's wrong with charging a comission to family members?
My parents are clients and they don't expect me to work for free or to lose money because they are related to me. Obviously if I can give them a discounted commission or charge the minimum to cover my ticket costs I will. They don't abuse the relationship and neither do I.....but I AM in business.
BTW: the new poster is really NASD Newbie in a not very well done disguise.
[quote=mikebutler222][quote=P G D M][quote=mikebutler222]None of those comments change the fact that it’s a low rent outfit that would allow a 5.7% YTB…[/quote] The low rent outfit is UBS and the amount of money you are complaining about is less than $25, the manager specifically approved the trade and the charge, and the customer did not complain.
Don't be jealous because you don't have a mother with $3,700.
[/quote] Great, I just read the other thread....
Geezze, Putsy, seek professional help...[/quote]
...don't feel bad...he fooled me too for a bit...what a sad way to entertain yourself...
What does Pretty God D*** M_?__ mean?
__________________
Normally I don’t bite at people, but this really needs clarification. Bro, I offer advice on two subjects:
How an entry level kid can weasel his/her way into a wirehouse without having much professional experience. How to study for the NASD exams. I should know, I failed the 7 two times.
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Yes, I have been posting for several months but the content of my questions have been ENTRYLEVEL questions for the same 4 individuals: what wirehouse has the best program, prospecting tips, etc. Do you even read my posts??
Before you insinuate that I am a moron, make sure you can justify your claim.
And as far as the footnote, I stole it off of AnnuityGuy.
"Call them until they threaten to sue… then ask for the appointment 5 more times…. In the end you will open the account.. "
No, in the end you'll get fired because your firm will get tired of paying those DNCL fines....
[quote=Greenbacks]
You must work in a wire house and they are teaching you that it is all about you ... getting paid and screwing the client! [/quote]
No, I pretty sure knucklehead isn't at a wirehouse
[quote=mikebutler222][quote=Greenbacks]
You must work in a wire house and they are teaching you that it is all about you ... getting paid and screwing the client! [/quote]
No, I pretty sure knucklehead isn't at a wirehouse
[/quote]
And I pretty sure that mikebutler wasn't an English major......
[quote=noggin][quote=mikebutler222][quote=Greenbacks]
You must work in a wire house and they are teaching you that it is all about you ... getting paid and screwing the client! [/quote]
No, I pretty sure knucklehead isn't at a wirehouse
[/quote]
And I pretty sure that mikebutler wasn't an English major......
[/quote]
Ohhhh, you got me on a typo!
I cold walked today. It was fantastic. Got a free tan out of it. An old lady told me she had a Merrill broker and slammed the door on me.
anabuhabkuss:
I cold walked today. It was fantastic. Got a free tan out of it. An old lady told me she had a Merrill broker and slammed the door on me.
-------------------------------------------
Well, there you go! Now, you know she's a qualified prospect (Merrill client) and your chances of opening an account with her increase to 80% after your eighth contact with the prospect. (I read that in an FA marketing book.) Only seven more contacts to go...
[quote=doberman]anabuhabkuss:
I cold walked today. It was fantastic. Got a free tan out of it. An old lady told me she had a Merrill broker and slammed the door on me.
-------------------------------------------
Well, there you go! Now, you know she's a qualified prospect (Merrill client) and your chances of opening an account with her increase to 80% after your eighth contact with the prospect. (I read that in an FA marketing book.) Only seven more contacts to go...
[/quote]
Ask her if she has any interest in "turning off those broker fees and making more money."
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