AGE Inside Information

[quote=ezmoney]I think he's right on. If I were an AG broker I would get out now![/quote]

If the AGE broker had any desire to go indy, yes this would be the perfect time.

I think this guy knows more than you folks are giving him credit for…

I think he makes some solid points.

Not to take sides but curious as to where you all feel that inside info is full of it or wrong…I see one item as that there are a few ofcs out there w/ higher avg production than he claims.  Anything else?

Inside Info does indeed have inside ino…that anyone who works at AGE has. He’s used a little interpolation and a LOT of hindsight to come up with absolutely nothing new. He must have a point, though that AGE brokers are lazy, after all, I’m posting this during market hours…oh yeah, I on vacation!

[quote=Indyone]I think this guy knows more than you folks are giving him credit for…[/quote]

I agree!

I used to work at AGE, and still have friends there.  Some of his stuff is spot-on.

Okay, Inside offered more inside info to anyone who was interested. I’m interested, when will Wachovia present its “broker retention package”? I expect date and time.

So what is the symbolic importance of “Sedona” anyway?

Joe,



Sedona suggested all AGE reps wearing red neckties to protest the takeover.

Then someone made the joke “Sedona Red”. To me, Sedona equals

delusional. livin’ in the past. I’m sure he’s a nice guy. Sedona probably wears

pink ties to protest breast cancer and yellow ties to bring home soliders. if

stopping the biggest takeover of last week was as easy as wardrobe, I’d

invest in Sedona’s IPO.



Obviously, if I hear anything new and good, I’ll post it, or if I have proof

something posted is wrong. I never claimed to have brand new Inside Info.,

just Inside Info.

Inside_Info. I’ll let you know when they put the retention package on my desk so you can post the “inside info” directly from a real insider.

Good luck with that Broker 010. Maybe AGE can blast the info from the front page of AGE-Net. Along with some of Bagbys’ always dynamic and sincere words of wisdom.
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[quote=joedabrkr]So what is the symbolic importance of "Sedona" anyway? [/quote]

He's a Korean-made car?

No Idea, please clarify, your post makes absolutely no sense. You know our intranet is called AGE-Net, congratulations. I get that Bagby has proven to be dishonest, but are you saying that I don’t work for AGE or that I will not have a retention plan put on my desk?

[quote=Broker010]No Idea, please clarify, your post makes absolutely no sense. You know our intranet is called AGE-Net, congratulations. I get that Bagby has proven to be dishonest, but are you saying that I don't work for AGE or that I will not have a retention plan put on my desk? [/quote]

Broker,

Half these guys posting AGE related comments on this board are cluesless. They are simply losers who derive pleasure out of fanning the flames.  Anybody can put together a so called "inside info" statement based on the comments made by you, me or other actual AGE brokers on this board. That's why I don't waste my time replying to most of these "insiders". I have enough "insider" info to deal with at my branch right now.

Fee, Yeah, I guess this is what happens when we’re starved for new information, we look in places where there is none to be found. Good luck, Fee!

Hey, Ho’. Again, meaningless drivel. You may go.

Believe me, dont believe me but its better info then you will get from ageinsider.

There’s nothing to believe. You haven’t said a thing… See you on the other thread.

[quote=Broker010]Fee, Yeah, I guess this is what happens when we’re starved for new information, we look in places where there is none to be found. Good luck, Fee!
[/quote]

That is very true!  The busy bodies get extra busy when there is something like this going on!  I know from experience.  Best you can do is spend a little time thinking about what path you want to take, and then put your head down and keep working until they put the paperwork on the desk in front of you.

Joe, that’s great advice for all of us.

Well said…that’s all we can do. Nothing changes until it does…

[quote=Broker010]Joe, that’s great advice for all of us.
[/quote]

If I can help a little glad to do so.  Like I said, I’ve been there…spent quite a bit of time at AGE in the good old days when Ben was in charge, left shortly after Tad-ster had his grab at the ring.  Then went through a takeover.  It was interesting times to say the least.

FWIW that’s why I’m indy now.  Far more freedom to respond to changing conditions.   I’m in the STL area if any of you are in town and want info.

What I meant was good luck with the retention package and transition. AGE had a lot of good qualities. Hopefully WB won’t kill off all of the culture.

Just In: Home Office Leak says

Retention Bonus as I've heard will be 40% 0-$349K, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up 

Advisor28, Thanks for the info. If that’s anywhere in the ball park, it may actually end up being a “broker retention” package. 

Broker10

It seems i was a little harsh last night. Tequila has that effect. LOL!

I apoloigize for that. I know it's a rough time for some of you. I believe that once you see and interact wirh some of the WB people it will help to calm your fears. The culture at WB is the closest you will find in a large firm to what you have at AGE. Don't let the fact that its owned by a bank give you the wrong idea. It's run by brokerage people, for brokers. You won't be doing auto loans, but will have the ability to offer mortages, letter of credits and business loans. If thats what you want to do. You can do managed money and get paid more or transactional business. The Envision process can unlock your clients hidden assets and up your AUM and net.

Just give it a chance.

Hydeho, No problem. It was a case of beer for me (purely medicinal at this point). These things always seem to have a way of working out for the best.

[quote=advisor28]

Just In: Home Office Leak says

Retention Bonus as I've heard will be 40% 0-$349K, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up

[/quote]

No offense to anyone, but someone doing 200K and has been in the business for 10 years doesn't deserve a check for $80K.  Sorry.  That's an insult to the rest of us and I seriously doubt they are considering that.  Plus if you multiply the number of producers at each level by the percentage you suggest it totals to over 1.4BIL and that doesn't even include the incentive for the WS brokers.

Not saying that package is anything like the truth, but…Why is that an insult to “the rest of us”? What do you care what a $200k producer gets as long as you get a whole lot more??

Because the total pie is only 1 Billion and I’ve already been subsidizing 200K producers in my office for too long.

So where would you put $0 on your offer scale, knowing that over 4000 AGE brokers produce less than $350?

0-149 = 0%

150-349 = 20%

350-549 = 40%

550-799 = 60%

800-999= 80%

1MIL + = 100%

Now that's a fair system.

Very realistic. I honestly appreciate your input. Thanks!

I think his point pertains to the break-even point for brokers vs. overhead. Anyone doing below $170 or so is not profitable i.e. a net drag on the firm. I think he’s saying that those who are only marginally profitable should not expect much of an offer.

[quote=Broker010]I think his point pertains to the break-even point for brokers vs. overhead. Anyone doing below $170 or so is not profitable i.e. a net drag on the firm. I think he's saying that those who are only marginally profitable should not expect much of an offer. [/quote]

B10... A guy doing 170m has a 32% payout... that means after his part of hlth ins. he grosses 48m....It doesn't cost 122m for phone computer and back office support.....

[quote=Broker010]I think his point pertains to the break-even point for brokers vs. overhead. Anyone doing below $170 or so is not profitable i.e. a net drag on the firm. I think he's saying that those who are only marginally profitable should not expect much of an offer. [/quote]

Exactly.  The sad thing is that he still won't get what you mean.  This is capitalism, we each reap what we earn.  There is nothing wrong with someone getting paid for their worth, but there is something wrong with someone expecting something that they didn't earn.

[quote=Quicksdraw]

[quote=Broker010]I think his point pertains to the break-even point for brokers vs. overhead. Anyone doing below $170 or so is not profitable i.e. a net drag on the firm. I think he's saying that those who are only marginally profitable should not expect much of an offer. [/quote]

B10... A guy doing 170m has a 32% payout... that means after his part of hlth ins. he grosses 48m....It doesn't cost 122m for phone computer and back office support.....

[/quote]

Broker010 - See, I told you this monkey wouldn't understand.  Now we know where this entitlement comes from.  If he only knew...

Right on. The tricky calculation comes when you consider Wachovias payout system. Anyone doing under $360 or so will take a pay cut. Period. Wachovia either needs to compensate for that short-term (we all plan to move above $360, I hope) or basically give up on us. Since $300+ is quite profitable either there or indy. That’s the boat I’m in which makes the final numbers’ accuracy very important.

Ferris, My gut tells me that $500+ guys will get 100% T12. They deserve every penny and can get it elsewhere and WB knows this. 

My contention is that if you have been in the business under 2 years and you post $175K trailing 12 months your ahead of the curve.  Why would you risk losing that producer?  If the regional guys have a say in this it certainly would help preserve the rookie quality...

I have come to the conclusion that we have no control over this situation and therefore we will all have to suffer and wait till next week, at least.  Time to quit speculating and try to make this a good month and for obvious reasons.  Come next week, month, quarter, whatever time frame, we can make educated decisions based upon the info in front of us. The bottom line is that we are crazy to not stick around and see what the next few months bring. 100% 50%, nothing....we'll know soon enuf.  Doesn't mean that you shouldn't at least do your due diligence.

Don't think that the #'s of "retained" brokers hasn't been baked into the Bagby pie. Read the news release again closely....WB says they figure to only lose 3% "of the advisors we want to keep". Enuf said.

Advisor. I don’t think a trainee (especially under 2 years) will be included in the umbrella deal. This is just my gut. I suspect that trainees will get a revised offer of some kind. This is based purely on my gut. Nothing more.

Shredder. You’re absolutely right on. All I need to do is to be able to stop thinking about the future of my career. Until I know, I’m afraid I’m stuck surfing web-sites, google searching and anything else I can think of in hopes of getting these questions answered. Call it a character flaw.

We’ll all know next week for sure…Just be sure to make your mind up within 7-10 days.

The UBS/Piper retention offer was given a 30 day look. I expect a similar timeline. Again, my damned gut.

Adv28...1. that's y u should do your DD now  2. It doesn't really matter, I can always sign the deal, leave and give the $ back.

When I read these post it makes it seem like a 200K producer is a turd. Granted it's not much gross but in my office there are some guys who have pensions from prior employment with a paid off house, driving a buick (possibly a ford pinto) who are fat and happy.

AGE pays 35% of 200K plus pension income (from prior career) and possibly social security. Not bad for taking it easy and enjoying your life.  No need to sell something you don't believe in life is good.

As far as the manager what's he to do? He comes shows up in the morning and he's looking at six empty offices and would rather have 200K than nothing. The company won't pay anything up front so he can't attract producers  so he'll take the gross he can get and run his own book.

Some guys are trying hard but just can't get it going. They eat up time and money and do not produce. It's these 200K brokers which should be the first to go. It's probably best for them anyway.

The change will be interesting to watch.

it’s going to be like watching a 25 car pile up at Daytona…

7877, At any other firm in America, a $200k producer is a step below a turd. AGE was a bastion for guys like that who could make a living at those level. This merger signals the end of that era.

I’m doing my DD…existing best clients seem to be taking it well so far 

28, If the WS offer isn’t acceptable to you, don’t forget that AGE will no longer exist. Who is your clients’ loyalty with, you or WS (or no one). Assuming you’ve treated them right, You should have their full support if you need to move.

[quote=Broker010]Ferris, My gut tells me that $500+ guys will get 100% T12. They deserve every penny and can get it elsewhere and WB knows this. [/quote]

And I would love nothing more than getting 100% of my T12.  My suggestion earlier was a best of all world scenario.  I get paid well and the sub 350 group gets something.  At least that way our firm can stay intact.

If this is truly a MERGER and they want to retain the AGE culture, expect something for the sub 350 group.  If it's a pure asset takeover, expect nothing.  I guess we'll know next week what it really is.  Based on Bagby's actions, I suspect the later.

[quote=advisor28] My contention is that if you have been in the business under 2 years and you post $175K trailing 12 months your ahead of the curve.  Why would you risk losing that producer?  If the regional guys have a say in this it certainly would help preserve the rookie quality...[/quote]

Most compensation packages are blanket grids, but I agree with you.  Someone who is ramping up should be considered.  Maybe they will have a side scale for producers with less than 5 years experience.  That would be fair.

I would agree and I feel good about client retention

Ferris, Amen on all counts. If they make an offer like 0% 0-$350k and 40% 350-$550, they stand to lose literally the majority of the AGE sales force. I’m a moron and if I know this those MENSA superstars in the big chairs must know this. Ergo, why would they pay a @$10 premium for AGE stock knowing that over half those producers are potential attrition?? Once again, this all my damned gut talking.

Broker - I agree but what about the guy doing 500K that's been spoon fed assets his whole career. My experience is that there is a very uneven allocation of reassigned accounts.

What if I am given 30 mil and you don't get sh*t? Is it fair that I should be given a check now and you're fired? The average turn is 65 bps at the firm so if I'm average and get reassigned 30 mil my gross goes up by 200K.

The stats in this industry are b.s. What if we each bring in 500k in new assets and I invest in a V.A. at 5% - Nice day - But you wrap it at 1% - etc

Ultimately the higher producers should be given more. But the stats in the brokerage industry and similar to government reporting. Not everything is as it seems.

7877, My point was just that every other firm in the country is far more cut-throat that AGE was. Now no one’s neck is safe in this business. I’m not saying it’s fair, it the nature of the beast.

Shredder - the contract would have to have a clause(s) stating that AGE/

Wachovia will let you change your mind at any time during the 6 years

and just give the money back, plus I’m sure they’d expect Centennial

Money Market Trust compounded interest rates.



If it were as easy as chaging your mind in business/with contracts and

giving back the money, every broker with a brain would invest his sum for

max risk-adjusted growth, give back the money if a better offer came

along, and pocket the investment gains. Not gonna happen.



I would have your lawyer/a great lawyer read and re-read that contract. If

I were a 200K producer, there’s no way I’d take the retention bonus, pay

taxes on it and bind myself to a bnak who’s going to no doubt get rid of

two-faced good 'ol country boy Bagby, and cut, cut, cut commissionsl.

The days of the up to 44 percent AGE payout will be looong gone! Minus

the big guys, only greedy and lazy mofos will take the bait and enslave

themselves.



Let’s see how many different AGE magnetic jacket pins we can get on

Ebay.



http://stlouis.bizjournals.com/stlouis/stories/2005/06/20/da ily49.html

(6.05 - this article references the Day in 2005 AGE put itself up for sale!!!

You’d have to be an idiot not to plow through the BS about not renewing

the posion pill for corporate goverance reasons…yada yada…that’s about

what babgy sound like when he talks, which is why they are letting

Ludeman do the talking )



http://images.google.com/imgres?imgurl=http://www.agedwards. com/

annualrpt/ar01/images/ben_edwards.jpg&imgrefurl=http://

www.agedwards.com/annualrpt/ar01/

letter_edwards.html&h=175&w=132&sz=8&hl=en&start=23&um=1&tbn i

d=kN-gUauolfUN0M:&tbnh=100&tbnw=75&prev=/images%3Fq%3D%

2522Bob%2BBagby%2522%2B%26start%3D20%26ndsp%3D20%26svnum%

3D10%26um%3D1%26hl%3Den%26sa%3DN

(Who misses Ben’s combover?)



http://www.strayrescue.org/images/age_MrBagbyGracie.jpg

( I think the dog looks more attractive than stout little pug Bagby)



http://www.stlmag.com/core/includes/phpThumb/phpThumb.php?sr c=/

media/galleries/299/IMG_1425.jpg&w=378&q=100

(Caught red handed - like the stain on the shirt, what’s in his hand).

Broker - Agreed - Thanks for the reply.

Here’s the correct link to the 2005 Bagby lie –



http://stlouis.bizjournals.com/stlouis/stories/2005/06/20/da ily49.html

Ok, This is pissing me off…just delete the space in daily and it works –

Insider, It’s my understanding that these retention offers are usually forgivable loans (the upfront part, at least) If you leave, you repay the pro-rated portion. Even if there’s a no-compete clause, brokerages pay these contract off every day to hire desirable broker from competitors. 

AGE Inside Info: No one rambles without an agenda

[quote=AGE_Inside_Info] I’ve been making my clients 
8-25 percent with very low risk. I have a strategy that has gotten 
numerous people 15 percent in 8 months, with little risk short of another
9/11.[/quote]



Are you selling cash-covered puts? Buying catastrophe bonds/reinsurance side cars? What is it?

Inside_Info., Are you mplying by your last post that your “inside info” confirms the retention package that’s been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info…that I don’t already have as an AGE broker. I look forward to your explaination.

I don’t think anyone likes Bagby at this point certainly not me.  If Inside has better info I would like to hear, and I guess we will see how close the home office leak is.

28, Outside shareholders sure like Bagby. From their perspective, he’s been an absolute genius studd.

On the bright side,  he made my restricted stock double in value over the past year.

Plus, I think it all vests upon consumation of the deal.

 A $billion only equates into 150k per FC (6700 fc's).

Even if you take out the top produces and the bottom producers and do some simple math, the median producer will probably only see 150k over 6 year period (25k/year).  If the bottom is weighted (200-300k producers) either the top 15% won't get much more or the bottom aren't getting even close to 150k.

Looks like a "sale" to me.  Mark up the price (150k over 6 years) wait until 2008 then cut the grids by 25k/year.  They get all the FC's under contract (even better with a forgivable loan senerio), they retain assets, and their profit soars in a few years. 

Let's not forget the (company optional) 7.5% of gross to 401k's AGE chipped in last year.  Let me see, 0.075 x 350,000 = $26,250.  Hmm that number is familiar, isn't it?

vesting of stock only vests 100% on a “hostile takeover” which this is NOT. Our restricted stock/options do NOT automatically vest.

fyi -let’s see if Insider has any good contacts…deal out soon…you should recieve the retention pkg  no later thatn Mon/Tues. Have not heard #'s.

I read that AGE managements’ restricted stock vests…Hmmmm…

Re; Vesting: My source is the Wall Street Journal, in an article dated 06/01/2007, and I quote, " the deal will allow its managers and directors to cash out millions of dollars in stock and options. At $89.50" If I’m mis-reading this, please forgive me, I’ just a dumb salesman.

[quote=Broker010]Re; Vesting: My source is the Wall Street Journal, in an article dated 06/01/2007, and I quote, " the deal will allow its managers and directors to cash out millions of dollars in stock and options. At $89.50" If I’m mis-reading this, please forgive me, I’ just a dumb salesman.
[/quote]

I tend to think you’re right.  Usually the triggering event for accelerated vesting for any common stock is a change in control that can be measured objectively.  A “hostile takeover” is something which would generally be too subjective to put into a contract like that.

Agree w/ Omirp222!



Does anyone know that AGE allegedly spends $75K to train each broker.

They are not going to just let under $150K producers walk, w/or w/o pay.

But, all of AGE’s proprietary fee-based programs (some at 2.25 percent

for funds)…some soooo proprietary that no one else has anything like

them…were designed to retain assets.



While AGE monkeys in the training dept. only know A-shares of Capital

Income Builder and Bond Fund of America, AGE branches and greedy

producing BMs have been pushing proprietary fee-based programs like

crazy.



BTW, Inside-Info. has a job. Won’t have time to get good inside info.

tomorrow unless it is texted to me.



For AGE brokers, want Inside Info., just read your BM’smail and faxes.

BMs are getting retention packages first

[quote=AGE_Inside_Info] Agree w/ Omirp222!



Does anyone know that AGE allegedly spends $75K to train each broker.

They are not going to just let under $150K producers walk, w/or w/o pay.

[/quote]



AGE spent that money, not Wachovia. Now all they have is a series 7

producer.   So what.



[QUOTE]

But, all of AGE’s proprietary fee-based programs (some at 2.25 percent

for funds)…some soooo proprietary that no one else has anything like

them…were designed to retain assets.

[/quote]



Like the CAAP program? The assets inside those accounts are ETF’s.

Those ACAT away real easy.



[QUOTE]

BTW, Inside-Info. has a job. Won’t have time to get good inside info.

tomorrow unless it is texted to me.[/quote]



And I’m sure you’ll be the best dressed fry cook at Burger King. And

contrary to your statement, you’ve NEVER been able to get good inside

info. Everything you’ve posted is common knowledge mixed with some

bad guesses.

Re: BM’s getting retention offers first…Yesterday at 4:00 My BM & assistant BM locked themselves in the BM’s office for a conference call. This is VERY non-typical behavior for them. These are NOT the conference-call-joiner type unless it’s VERY important. I did not see any info about any scheduled conference call anywhere on our system for the rest of us. Read into this whatever you want, but I know what I’m reading it as. These guys are both friends of mine and I’ll see what I can find out.

[quote=AGE_Inside_Info]



While AGE monkeys in the training dept. only know A-shares of Capital

Income Builder and Bond Fund of America, AGE branches and greedy

producing BMs have been pushing proprietary fee-based programs like

crazy.



[/quote]



funny you mention that inside_info, although it is far from inside information – just like all the other bits of gossip material you have provided on this forum. to repeat other replys, you obviously have no inside info



this excerpt from watch over ya’s guide to investing in MFs (wachovia.com/files/GuideToMutualFund0305.pdf) has a paragraph on their annual push to sell their own funds (Evergreen, JennisonDryden, Strategic Partners and Worldwide Investors).



"During the course of annual business planning, business with our affiliates is included in establishing our sales goals. We intend, however, to make all recommendations independent of any such goals and based solely on our obligations to consider the clients’ objectives and needs."



to an age broker that has never had to push proprietary products- this is comical

[quote=dontask] [quote=AGE_Inside_Info]

While AGE monkeys in the training dept. only know A-shares of Capital
Income Builder and Bond Fund of America, AGE branches and greedy
producing BMs have been pushing proprietary fee-based programs like
crazy.

[/quote]

funny you mention that inside_info, although it is far from inside information -- just like all the other bits of gossip material you have provided on this forum. to repeat other replys, you obviously have no inside info

this excerpt from watch over ya's guide to investing in MFs (wachovia.com/files/GuideToMutualFund0305.pdf) has a paragraph on their annual push to sell their own funds (Evergreen, JennisonDryden, Strategic Partners and Worldwide Investors).

"During the course of annual business planning, business with our affiliates is included in establishing our sales goals. We intend, however, to make all recommendations independent of any such goals and based solely on our obligations to consider the clients’ objectives and needs."

to an age broker that has never had to push proprietary products- this is comical

[/quote]

What's your name?

I suggest anyone getting the boot or considering moving consult with an attorney. I have seen too many bkrs wait to consult with me until it was too late. If you need help I would be happy to assist, as I love going after these firms  for the little guy .

Regards,
Stuart

www.stockesq.com

Atty, What, exactly, would you plan on “going after” AGE/WB for? We have no contracts currently and haven’t been presented with any future contract or offer of any kind yet? Unitl we’re presented with something that could be binding, I don’t see anything any lawyer could do for anyone yet and, even when we have the new offer, what are you going to sue for, offering a contract???

[quote=shredder]fyi -let's see if Insider has any good contacts....deal out soon...you should recieve the retention pkg  no later thatn Mon/Tues. Have not heard #'s.[/quote]

Yup most brokers will see their package on Monday. WB initially said it would be 2 weeks but have had to scramble to get them out because the internal heat was getting too hot.

As far as the numbers I'm hearing...let's just say somebody on this forum nailed it.

Fee, so…what numbers are you hearing? There’s been a lot of them posted here.

Listening to the AGE confernce call just now, I almost believe that they don’t even have a broker retention package together yet. How scary is that?

They have it.  You won’t like it.  Please grab a glass of Koolaid.

Baller. Let’s have it then, why be coy? Here’s your chance to be a star.

Instead of trying to hop around and move either Indy or to another firm, it may be in the best interests of the FC’s, FA’s in individual AGE branches to just negotiate a deal with someone like MS, MER, Dain, Ray J, Wall Street Securities, LPL,or whomever to move the entire office at one time to another firm, if FC’s are not happy. This would scare the hell out of Sr. Management at AGE/WB and would really make them wake up to the seriousness of this sale, not merger. It’s just easier to change the name on the building to another firm and have new cards printed. I am sure that the AGE FC would retain 100% of the client base. Something to seriously think about, but needs the support and coordination of the entire AGE office. Noty sure if this is viable, but certainly a thought. The power to succeed stands with the masses.

It could be done. I remember hearing aobut entire offices at Advest that did that when the Merrill deal went down…

[quote=Broker010]Fee, so...what numbers are you hearing? There's been a lot of them posted here.[/quote]

Ok ...just fininishing up the conference call, and they DID reveal some interesting points.

As far as the comp deals are concerened...don't expect a mass exodus as some have predicted. Nearly every core member of the field will receive some kind of offer.  Now wheather they take it or not is another question.

Fee, If it’s the rumored package that starts with 40% $0-$350k T12, then I expect you’re right, that there won’t be mass exodous. I expect that would be compelling for most, for better or worse.

A Core FA at WB is someone doing 300k+…0-300k is not a core FA…

How do you know that a mass exodus isn’t already built into the price of the deal?

Well, I guess that’s that. There is not nor has there ever been any AGE Inside Info on this thread and I guess the outside speculation has played itself out. Too bad, I almost believed a couple of you when you said you knew things I don’t about the merger/retention package.

They had the package together before they announced the “takeover”.  FC salaries and benefits are the single biggest expense for AGE by far.  It’s like buying a gas station and trying to say you have no idea how much gas costs but you’ll figure it out later.  Either you’ll fail miserably in business or you’re lying.

[quote=Broker010]Fee, If it's the rumored package that starts with 40% $0-$350k T12, then I expect you're right, that there won't be mass exodous. I expect that would be compelling for most, for better or worse.[/quote]

350k x 0.4 / 6(years) = $23,333/year

350k x 0.075 (AGE company 401k contributions) = $26,250/year

I may be a noob, but I see a pattern here.  I'd make sure I got 401k contributions locked in, at least in a range, before I signed anything.

"Due to unexpected costs associated with the merger, we're sorry to inform all FC's that Wachovia will not be able to make any additional contributions to employee 401k's this year" 

"We would also like to remind all FC's of their contract they signed"  /evil grin

222, If you do any legwork at all, it’s easy to find that Wachovia Securities has a 6% 401(k) “match” policy already in place. I bow to your superior math skills, but my gut tells me that the 401(k) employer contributions won’t be slashed.

222, Also, the AGE 401(k) employer contribution is based on an FC’s INCOME, NOT his GROSS PRODUCTION. Other than that, you make a lot of good points.

[quote=Broker010]222, Also, the AGE 401(k) employer contribution is based on an FC's INCOME, NOT his GROSS PRODUCTION. Other than that, you make a lot of good points. [/quote]

Good points.  I just don't see how they're going to pay for everything and still make their profit goals in the years ahead.  Something has to give, either less support and less money for FC's on the same $$ produced, more production from FC's (on same expense $$) or a combination of the 2.

According to the WS slide presentation, they have some pretty aggressive profit goals for the merged company.

Agreed. I just keep hoping for some real insight. It’s apparent there isn’t any in here. I’m just frustrated.

[quote=shredder]

I have come to the conclusion that we have no control over this situation and therefore we will all have to suffer and wait till next week, at least.  Time to quit speculating and try to make this a good month and for obvious reasons.  Come next week, month, quarter, whatever time frame, we can make educated decisions based upon the info in front of us. The bottom line is that we are crazy to not stick around and see what the next few months bring. 100% 50%, nothing....we'll know soon enuf.  Doesn't mean that you shouldn't at least do your due diligence.

Don't think that the #'s of "retained" brokers hasn't been baked into the Bagby pie. Read the news release again closely....WB says they figure to only lose 3% "of the advisors we want to keep". Enuf said.

[/quote]

Sorry to repeat myself.....

Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I’d get some “Inside AGE Info” from this thread. Don’t ask me where I got that stupid idea. 

[quote=Broker010]Shredder. Your are and were right, obviously. I have been one of the few ignorant fools who kept thinking that, any time now, I'd get some "Inside AGE Info" from this thread. Don't ask me where I got that stupid idea.  [/quote]

It will ulimately be in the form of the "contract on your desk". On an encoraging note...I have heard that if you do not want to sign a contract, you will not be required to sign a contract...an interesting number of days ahead. My motto is, "Be positive, stay focused"

You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I’ve been toying with for well over a year. Good luck!

[quote=Broker010]You are right on. I just hate waiting w/o information. Call it a character flaw. This WILL end up working out for the best. Either the WB deal will be lucrative and promising, or, this will be the ideal time to go indy, an idea I've been toying with for well over a year. Good luck! [/quote]

EXACTLY, good luck to all AGE'ers....fyi Bagby had a guard posted by his car for the last few days....got a giggle out of that. Apparently, the guard is no longer there....

[quote=Omirp222]

Good points.  I just don't see how they're going to pay for everything and still make their profit goals in the years ahead.  Something has to give, either less support and less money for FC's on the same $$ produced, more production from FC's (on same expense $$) or a combination of the 2.

According to the WS slide presentation, they have some pretty aggressive profit goals for the merged company.

[/quote]

They are looking to take AGE brokers to the next level, well most of them anyway! Through May 31 WB Securities is up low 20% area. They think they can take AGE up minimum 15% first year. Figure in the branch consolidations and there is a lot of your money. 401K and personal polies are based on the overall corporate policies. So to cut part would be to cut all 50000+ employees.

[quote=Broker010]I keep hearing all these “they had/have the retention package ready” posts that imply that the poster know what the package contains. They are full of S%*t. Either post the numbers or shut up. I admit I don’t have any inside info that every other AGE broker has. I’m looking for info, not trying to make myself look important.
[/quote]

Dude I’m sure you’re frustrating but with all these posts you honestly come off as whining a whole lot.  Put your head down and work, and you’ll get info you can count on in writing from the mother ship…

Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you’d watch your language more carefully, I promise.

[quote=Broker010]Joe, If only I could know all, like you, then I would quit whining. In the mean time, if we ever met face to face, you’d watch your language more carefully, I promise.
[/quote]

Trust me my friend there is much that I do not know.

I did not mean my language nor my directness to offend.  Honestly.  I’m sorry.  I am sure this is stressful to you.  I was merely trying to point out that if you’re not getting the information you seek here, then it is only causing you more stress to obsess over it.

I know it probably comes across as some Zen-like Phil Jackson b.s., but whatever is going to happen will happen.  Speculating about it will not change it. The best thing you can do to get is to get your ducks in a row and have your head clear.

Look at it this way…better to be a producer with a book of business in the midst of all this than to be in middle management in home office!

Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head’s down and I’m grinding out my daily production. I’ve been looking for info that simply isn’t available yet. Understand that we’ve been told, literally as recently as two weeks ago, that our firm “is not for sale” and "committed to remaining feircely independent, so it creates a degree of anxiety. 

OK....some real information. If you haven't seen this yet, it may be informative to some.

Check out these links for 2007 Payout comparisons. I really don't think that WB will make any changes in their payout grids.

http://www.onwallstreet.com/pdfs/wachovia.pdf

http://www.onwallstreet.com/article.cfm?articleid=3558

Hopefully this information sheds some light on what to expect vs A.G. Eddies payout numbers. If you print this out and compare, you will see some major differences.

The biggest concern to AGE FC's would be to take a retention package, sign the 6 year contract, then get caught in a new payout grid as WB is paying out in 2007. That would be very discouraging to all the FC's. Right now, I am told that Bob Bagby has made the statement "payouts will be the same thru 2008", but can anyone really believe what this man tells his employees when he has already mislead all of them with we are "staying independent" then getting the shocking news that he and 6 other "outside" board members made the decision, had been discussing selling back in Nov 2006, and retaining Goldman Sachs to find a buyer. It is hard to believe anything that the present AGE CEO tells his people. Also remember, he is NOT going to be the guy running AGE. It's big Danny now. Bagby is now the puppet for WB.

Next week will be a real test of what WB thinks of the heart and soul that AGE FC's have put into the business building AGE to one of the most respected names on Wall Street. WB can NEVER compare to the tradition and integrity of the Edwards family and what they represent to so many Americans.

[quote=Broker010]Joe, No problem, my aggression is bred by my inability to cope efficiently with lack of information and I apologize to you, too. Trust me, my head’s down and I’m grinding out my daily production. I’ve been looking for info that simply isn’t available yet. Understand that we’ve been told, literally as recently as two weeks ago, that our firm “is not for sale” and "committed to remaining feircely independent, so it creates a degree of anxiety. 
[/quote]

Well if you’re still grinding out daily business then trust me you’re ahead of many from what I hear.

Then next you just need to come to grips with the fact that there will be some uncertainty for a while.  There’s simply nothing you can do about it, except to clear your head of all the doubt and frustration and get the most you can get out of every day.  Make it a point to spend a little extra time playing with your kids(or your wife or girlfriend), or go beat up some golf balls.  At a time like this you need to go a little out of your way to make sure you decompress on a regular basis.l

I can only imagine what it must be like.  Frankly I think Bagby pretty much lied to you guys.  I suppose some would argue you can’t blame him for cashing out, but the Edwards family didn’t do it for over a century.  You would think Bobby boy could have resisted the quick hit.

I was there while Ben was running the shop, and remember how cool it was when at the beginning of the home office tour they paraded us all as a class of trainees right into Ben’s office to meet him and shake hands.  He had one helluva china collection up there I’ll tell you what!  IT was a cool place then.  Ben might have been a nice guy for the most part, with a good sense of humor, but when push came to shove there was no doubt how we were going to do things and who was in charge.

I also lived through the Tad disaster.  Seemed like an ok guy, but just wasn’t ready to fill his pop’s shoes and tried to hard to set himself apart as different.

Bagby was obviously different.  So were the political hacks that rode his cottails.  Even still, I would probably still be there but for some challenges I had with local management.

Good luck.

Reggin,



You’re obviously fresh of the boat.



1) A Series 7 (combined w/ a 66, etc.) is NOT a dime a dozen. Many

independent bds are hard-pressed to find someone w/ this combo. Any

fool can get a mutual fund license or advisor rep license. This combo is

valuable to Wachwards, and they WILLl pay for it / not to lose these

brokers that cost $75K to train and have AUM.



2) ETFs ARE funds. What’s your point. CAAP can be ACAT’d but no one

else can manage it, hence my point about AGE creating proprietary value.



3) BMs and top dogs are getting packages and have to sign before low

level producers are getting anything. This is Inside Info. I already said

this. The retention grid is speculation, but one of many scenarios AGE has

tossed around. I long said they will offer to pay the under $150K

producers. This is Inside Info. Accepting at this level for 6 years of

enslavement makes one a moron. The one thing they won’t lose is home

office staff. Trained monkeys are hard to untrain. AGE takes a lot of high

school grads that have no ambition and trains them w/ one skill - to push

A SINGLE KEY on a computer for 30 years, but only pay them $25K-$38K

a year.



4) What’s Burger King? Is that the restaurant that has a gay king as a logo

and the “Wake Up With the King” commercials?



I’m sorry, the only cooks I know work Babbo, Trotter’s, French Laundry.

Your clients must love dinner out on you.



I have SOME Inside Info. I never claim to know everything. This is now a

forum for anyone w/ Inside Info. 010’s BM’s suspicious behind-cloed

doors conference call is very revealing. If he really is buddy buddy with

them, he’ll have better Inside Info. than me tomorrow.

AGE_Inside_Info

I've patiently read through all of your posts, including the last one with rambling about fine Napa restaurants and have come to the conclusion that you should change your username to knownothingspeculator.

Stop posting, nothing you post has value.  Anyone else agree?

The "merger agreement has been filed with the SEC…Section 6.12 states that WB will compensate the AGE FC’s as if they were at AGE. In essence, I really don’t think that AGE FC’s should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC’s, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC’s, even though AGE will be integrated into WB. The only big question will be what’s in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC’s whose heart and soul has gone into their business’s and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC’s will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC’s, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good.

I almost forgot to let you all know what went on in the BM’s closed-door meeting Wednesday afternoon. It was a private (speakerphone) call with our region manager, who claims to be as in the dark as we are at this point. Both my BM and asst. BM are, in fact, close friends and I believe them ALWAYS. Sorry this wasn’t more.
 Obviously Inside-Info doesn’t have any. Unfortunately, neither do I nor does anyone else on this post. Good luck, guys!

[quote=Downunder]The "merger agreement has been filed with the SEC....Section 6.12 states that WB will compensate the AGE FC's as if they were at AGE. In essence, I really don't think that AGE FC's should worry to much. I understand that your home office has been totally aware of the concerns and the emotional nature of the FC and they will not want to lose brokers nor will WB. My bet after two weeks of input from FC's, via emails and letters to Bagby and Regional Managers that the results of any retention packages may be better than what you would have expected, and that perhaps the WB 2007 Payout grid will not be in force for AGE FC's, even though AGE will be integrated into WB. The only big question will be what's in the 6-year contract and what are the terms. My bet, WB does not want to lose AGE FC's whose heart and soul has gone into their business's and have earned a trendmenous amount of respect with strong relations. Time will tell, and AGE will never be the same as the long time employees know of it. Bob Bagby will play a submissive role, but in the end, most FC's will probably remain, take the retention packages and move on with the business/client relationships and conduct business as they did with AGE. The long term FC's, you will never be able to take the AGE blood out of their system, and you will ultimately treat the client the same regardless of the name WB. So go with the flow, and life may just not be as bad as you might have thought, even though your CEO lied to you and ultimately sold you out. There is life ahead, and life will be good, perhaps not great at WB, but good. Digest the news careful and forge ahead. Most importantly remember life itself is good. [/quote]

Now THAT was an informative post.  Sums up what I've been thinking, but good to hear it from another.  Package comes next week.  Relax and have a drink.

Baller, I read the SEC Merger agreement, too, but didn’t give it any weight, because it has no bearing on forward-looking policy. All it is is an SEC requirement. It does not bind the party’s as to their future behavior. BUT both of your points is VERY well taken. Life is/will be good. I’m on my second drink right now. Cheers!

Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 

PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

[quote=advisor28]

Regionals are flying to St. Louis for Sunday Night Meeting...I stick to my previous post within 10%. We should know Monday afternoon for sure. 

PS. Keep in mind a forum is like CNBC (Keep Ratings Up!) be calm, buy and hold, and diversify??...Keep the guessing and speculation alive until he/she who had the info is discovered. 

[/quote]

Wednesday-Thursday is more likely. I hope all the regionals put up a good fight.

[quote=joedabrkr]Even still, I would probably still be there but for some challenges I had with local management.
[/quote]

hmmm.. let me guess.  You had a know it all attitude, an answer for everthing, and spent too much time posting on the internet?

[quote=Ferris Bueller]

[quote=joedabrkr]Even still, I would probably still be there but for some challenges I had with local management.
[/quote]

hmmm.. let me guess.  You had a know it all attitude, an answer for everthing, and spent too much time posting on the internet?

Baller,



You PATIENTLY read through my posts. If you were patient, you wouldn’t

be a broker. I don’t give a sh*t about your posts, so I “patiently” searched

for no more of them.



I know somebody who already got their offer. BM. 100 percent plus bonus

based on getting certain big producers to come with him.



Then I have some Inside Info. that I cannot post here, or it will give me

away.



Since no one responded to your post about me not posting, I’ll keep

posting. Then again, MAYBE I’ll find something new out next week, not

post and wait to see who the first to get it is.



Have your drinks this weekend. Most will get something. It won’t be equal

and fair, either. If you want fair, go home and watch Barney.

New to this forum, like some others here just wanted to add my two cents (hear my head rattle). Most AGE BM's have heard (not seen) their package, remainder will be called from StL meeting Monday. Make your BM nervous? Don't "buy in" just yet!

Inside info, my posts were not a guess.

[quote=AGE_Inside_Info]Baller,

You PATIENTLY read through my posts. If you were patient, you wouldn't
be a broker. I don't give a sh*t about your posts, so I "patiently" searched
for no more of them.

I know somebody who already got their offer. BM. 100 percent plus bonus
based on getting certain big producers to come with him.

Then I have some Inside Info. that I cannot post here, or it will give me
away.

Since no one responded to your post about me not posting, I'll keep
posting. Then again, MAYBE I'll find something new out next week, not
post and wait to see who the first to get it is.

Have your drinks this weekend. Most will get something. It won't be equal
and fair, either. If you want fair, go home and watch Barney.[/quote]

I'll respond.  Stop posting.  Now will you go away?  I'm with AGE and you haven't added anything that I didn't already know.  So your inside info is bull$sh*t.  Then you say you do have some info that you can't post?  You are a troll.  Go away trollboy.

[quote=Broker010]Inside_Info., Are you mplying by your last post that your "inside info" confirms the retention package that's been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info....that I don't already have as an AGE broker. I look forward to your explaination.[/quote]

Broker010 - He won't answer this because he CAN'T.  He doesn't work for AGE and has no clue.  He's an internet troll.

Judging by all the private messages I’ve been getting, some brokers must be

attracted to trolls. (BTW, ymh ymh ymh - tried to respond in depth to you w/

a little new info. because you were so nice, and you have exceeded your

limit on private messages).



Ferris, Liquid just confirmed something I was the first to point out re: BMs

getting packages early. I am in contact w/ a BM who has gotten a 100

percent offer plus a bonus based on which big producers in his office he can

get to sign on the dotted line. If, you, FB (F_ckin’ Bile) already knew this, you

certainly did not say.

And one more thing, FB, if you don’t know my connection to AGE/the

industry, then I am accomplishing exactly what I want on this forum (TO

STAY ANON).



You just wish I would come out and say, "Worked in the Janesville, WI AGE

office from 1997-2001, left to go Indy with RJ, made a pile of money and

now run the biggest hedge fund in Oklahoma…um, yeah.

[quote=Broker010]Inside_Info., Are you mplying by your last post that your "inside info" confirms the retention package that's been rumored, 40% T12 $0-$350, 50% $350K-$499K, 60% $500K-799K, 100% $800K-up that Advisor 28 posted is correct? You seem conflicted with 28, in that case. I really am interested in inside info....that I don't already have as an AGE broker. I look forward to your explaination.[/quote]

ANSWER THE QUESTION.  If you really know what you say, then you will be able to answer this question.

The next post you make should contain your 'guess'.  If next week you are right, I will leave this forum and never return.  Put up or shut up.

Just what I thought.

Ladies & Gents:

There is no inside information to be had. Any posts here is pure speculation, and be assured, nothing will be final and dertermined until the Regional Managers come here to St. Louis today for tomorrow's meetings. They are expected to be lengthy and very detailed. The Regional Managers will have some major input and everyone should just sit tight. Don't look for any major annoucements on Monday, Sr. Mgt has stated that more will be coming the week of the 11th, not necessarily the 11th. So this will be a interesting week for all. Just sit tight, relax, drink some iced tea, your favorite beer or mixed drink, and next week will finally lend some guidence for all those AGE FC's out there.

I really doubt that anyone really knows anything, and be sure to know that AGE Sr Mgt will NOT leak anything. Just think of how well they managed the situation up until the annoucement of the sell out.

Be patient and enjoy the weekend. Relax, and plan your next move.

[quote=AGE_Inside_Info] Judging by all the private messages I’ve been

getting, some brokers must be

attracted to trolls. (BTW, ymh ymh ymh - tried to respond in depth to you

w/

a little new info. because you were so nice, and you have exceeded your

limit on private messages).



Ferris, Liquid just confirmed something I was the first to point out re: BMs

getting packages early. I am in contact w/ a BM who has gotten a 100

percent offer plus a bonus based on which big producers in his office he

can

get to sign on the dotted line. If, you, FB (F_ckin’ Bile) already knew this,

you

certainly did not say.



[/quote]



I call bullsh*t here. My branch is in the top 25 for production and profit

and there have been no offers.



Here’s my take on why you’re here. You are an EX AGE broker that is

bitter about the way you left and that you are not still there to get an

offer. When you left, you took less clients than you wanted and am now

hoping that the ensuing chaos allows you to rebuild your book.



I agree with the prevailing thoughts here. Put up or shut up.

Obviously, Inside_Info is full if S%*t. The #5 producer in the company is a BM of our former parent branch office, 5 miles from mine. My BM is a President’s Council member and a good friend of mine. They have had no offer. Why, pray tell, is Inside’s  anonymity so important to him? It’s all a smoke screen, for anyone hasn’t figured this out yet. Hell, I’ll give any of you who care my name address and phone number and invite you down for a day on the boat, if you want. Inside has nothing going on and needs an ego stroke. Sorry if I’ve insulted any of your intelligence with any of this.

Regarding Inside_Info: I called him out and now he’s vanished.  What a loser.

I cleaned out my private message in-box. Apologies to AGE_Inside_Info and anyone else who attempted to PM me.

[email protected] works and I am not with LEHman Brothers.

I don't have a dog in this hunt (not long/short AGE/WB to include puts/calls, not with either firm).

Ymh, You’d think you’d have realized by now that this post is for those “with a dog in this hunt”. No one cares with whom you are not, nor whether you have or are a dog of any kind.

[quote=Broker010]Ymh, You’d think you’d have realized by now that this post is for those “with a dog in this hunt”. No one cares with whom you are not, nor whether you have or are a dog of any kind.
[/quote]

Dude-  If you google YMH’s email address or “Yolanda Holtzee” you’ll see that she is making said disclosure because she runs some serious dollars and wants people to know that she isn’t trying to influence the market for anything she trades.

Yolanda is a long time poster here, and is seriously plugged-in and the real deal, IMHO.

Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren’t currently interested, in this venue at least, in someone “seriously plugged-in and the real deal”, not pertaining to or specifically related to “the real deal” aforementioned.

[quote=Broker010]Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren’t currently interested, in this venue at least, in someone “seriously plugged-in and the real deal”, not pertaining to or specifically related to “the real deal” aforementioned.

[/quote]

No worries man.

[quote=Broker010]Joe, Excuse my faux pas. Again, however, my retort is that this post is entitled AGE_Inside_Information. Those endeavoring to find said information aren't currently interested, in this venue at least, in someone "seriously plugged-in and the real deal", not pertaining to or specifically related to "the real deal" aforementioned.
[/quote]

Translation:  Take a hike Joe.

[quote=joedabrkr] [quote=Broker010]Ymh, You'd think you'd have realized by now that this post is for those "with a dog in this hunt". No one cares with whom you are not, nor whether you have or are a dog of any kind. [/quote]

Dude-  If you google YMH's email address or "Yolanda Holtzee" you'll see that she is making said disclosure because she runs some serious dollars and wants people to know that she isn't trying to influence the market for anything she trades.

Yolanda is a long time poster here, and is seriously plugged-in and the real deal, IMHO.
[/quote]

I think the word you were looking for is "GADFLY"

[quote=Broker010]Obviously, Inside_Info is full if S%*t. The #5 producer in the company is a BM of our former parent branch office, 5 miles from mine. My BM is a President's Council member and a good friend of mine. They have had no offer.  [/quote]

Just to beat a dead horse, I'm a BOM and Chairman's producer...no offer.  I haven't spoken to a BOM in the system who's had one, and if it had happened news would spread.

If you want to guarantee a mass exodus give the BOM's info on their deal before your producers....that would be bright, wouldn't it? 

For the naive AGE brokers here (rookies in the biz), WB probably learned their lesson on the PRUSec "merger of equals" with respect to NOT courting the BM's.

PRUSec had a policy which precluded BM's from managing a book. Some got around this by having the assistant BM or a pal manage their book "on paper." WB, for some reason (probably that one) did not "court" the BM's. They knew they would consolidate many of the branch offices so their rationale was "why attempt to retain BM's with no books when we'll have to put some of them out the door eventually anyway."

Well, that backfired on them because the head of private client at PRUSec bailed for a competitor then unleashed an army of headhunters to recruit BM's. The BM's jumped ship, then they cherry picked their PRUducers (1st quintile types) to jump ship, too.

I am amazed by the number of AGE brokers who post here who are not aware of how history often repeats itself over and over again. I surmise the ones who don't understand are rookies in the biz (under 5 years).

It makes $en$e (cents) that WB is courting your BM's. Your BM's manage books (in some cases big ones). The stakes are much higher retaining your BM's.

FD: the same disclaimers as last time

For those of you considering going independent, the November 2006 issue of Registered Rep may be of interest to you.

[quote=CutterJon]

[quote=Broker010]Obviously, Inside_Info is full if S%

*t. The #5 producer in the company is a BM of our former parent branch

office, 5 miles from mine. My BM is a President’s Council member and a

good friend of mine. They have had no offer. [/quote]

Just to beat a dead horse, I’m a BOM and Chairman’s producer…no offer. I

haven’t spoken to a BOM in the system who’s had one, and if it had

happened news would spread.

If you want to guarantee a mass exodus give the BOM’s info on their deal

before your producers…that would be bright, wouldn’t it?

yhm, If you think WB will repeat the disaster of the Pru deal, then it is you who are (painfully) naive. You may want to spend your time elsewhere rather than troll a site specifically intended for AGE brokers instead of staying here entering stupid, useless posts intended to insult AGE brokers. Not only do you NOT have any information for those who seek inside AGE information, but yoru preaching has gotten old. You may go now.

Yolanda - or Yolanda. M. Holzee (ymh ymh ymh)…



I have decided not to respond to you privately and give you juicier bits,

because you outed yourself as an industry watchdog/whistleblower.

RegisteredRep wrote an article about you in December wanting to be SEC

Chairman. Exposing your identity isn’t too bright. People w/ political

aspirations get to know real people NOT other Internet trolls (haha).



Where I do know Yolanda Holzee has true insight is that she had an army

background and clearly understands the dynamics of power and herd

mentality. This is mainly a response to Yolanda, but to all else, I know

ONE BM who has verbally been given a very substantial offer because ML

has been on his ass for almost a year, and they are going to likely have to

match that. YMH is exactly right w/ the rationale for taking care of the

top first. Retention grids are irrelavant at this point, 010. Mothing set in

stone, and they are being very careful in how they present this. We are

not socialists, and I already have prrof that one BM is being given extra

incentives to stay.



Whoever said that AGE is the only firm that is a bastion for laziness or

something like that is right. They have to take care of BMs and top dogs

first to determine what they are willing to offer to keep all the $150-

$250K producers. BMs at AGE have A LOT of sway. They are like kings

with their $1M books, overrides, bonuses. AGE HQ realizes that if BMs

stay, a lot of mid-level producers will stay. Just read all of Broker010’s

claims that he’s so tight w/ his BMs. His BMs would stab him in the back

in a minute. He’s naive. Everyone at AGE thinks they are golden if they are

in good with a BM…



I never intended to claim to have ALL the inside info. or a contant feed to

new stuff, just to get a forum of Inside Info. going. Of course, it’s turned

into a lot of speculation…that’s only to be expected.



Half the stuff I know, I don’t even want to say publicly in the forums.

Many of my AGE feeds that are newer to the biz have interviews lined up

with other major wirehouses. I don’t care who you are, you are very in

demand right now with a 7/insurance/66. Headhunters are even calling

the little guys I know many times a day. It is a big risk for a firm to pay

someone to study, when only about 64 percent of brokers pass the first

time. No one wants to sign a contract and take a risk on someone

unlicensed if they do not have to.



Also, a lot of the big Indy bds now pay up front money for $125k gross

and above. This is a fact, but I think some of the jerks on this site don’t

deserve to get even $30K up front to open their own Indy shop. I’d rather

see them lock themselves into 6 year contracts and have their pay slashed

in 2008. As per claims that I want to use other firms’ chaos to build my

book. This business is about relationships, not bad mouthing the

competition. The news speaks for itself.



For the last time, I started this thread as an open forum for Inside

Information. Any body can post theirs…

Yolanda - or Yolanda. M. Holzee (ymh ymh ymh)…



I have decided not to respond to you privately and give you juicier bits,

because you outed yourself as an industry watchdog/whistleblower.

RegisteredRep wrote an article about you in December wanting to be SEC

Chairman. Exposing your identity isn’t too bright. People w/ political

aspirations get to know real people NOT other Internet trolls (haha).



Where I do know Yolanda Holzee has true insight is that she has an army

background and clearly understands the dynamics of power and herd

mentality. This is mainly a response to Yolanda, but to all else, I know

ONE BM who has verbally been given a very substantial offer because ML

has been on his ass for almost a year, and they are going to likely have to

match that. YMH is exactly right w/ the rationale for taking care of the

top first. Retention grids are irrelavant at this point, 010. Nothing set in

stone, and they are being very careful in how they present this. We are

not socialists, and I already have prrof that one BM is being given extra

incentives to stay.



Whoever said that AGE is the only firm that is a bastion for laziness or

something like that is right. They have to take care of BMs and top dogs

first to determine what they are willing to offer to keep all the $150-

$250K producers. BMs at AGE have A LOT of sway. They are like kings

with their $1M books, overrides, bonuses. AGE HQ realizes that if BMs

stay, a lot of mid-level producers will stay. Just read all of Broker010’s

claims that he’s so tight w/ his BMs. His BMs would stab him in the back

in a minute. He’s naive. Everyone at AGE thinks they are golden if they are

in good with a BM…



I never intended to claim to have ALL the inside info. or a contant feed to

new stuff, just to get a forum of Inside Info. going. Of course, it’s turned

into a lot of speculation…that’s only to be expected.



Half the stuff I know, I don’t even want to say publicly in the forums.

Many of my AGE feeds that are newer to the biz have interviews lined up

with other major wirehouses. I don’t care who you are, you are very in

demand right now with a 7/insurance/66. Headhunters are even calling

the little guys I know many times a day. It is a big risk for a firm to pay

someone to study, when only about 64 percent of brokers pass the first

time. No one wants to sign a contract and take a risk on someone

unlicensed if they do not have to.



Also, a lot of the big Indy bds now pay up front money for almost anyone.

This is a fact, but I think some of the jerks on this site don’t deserve to

get even $30K up front to open their own Indy shop. I’d rather see them

lock themselves into 6 year contracts and have their pay slashed in 2008.

As per claims that I want to use other firms’ chaos to build my book. This

business is about relationships, not bad mouthing the competition. The

news speaks for itself.



For the last time, I started this thread as an open forum for Inside

Information. Any body can post theirs…Busy week ahead; think I’ll just sit

one out (FB and 010 can rejoice).

“Retention grids are irrelavant at this point, 010” - Inside_Info

 Inside, thanks, but I’ll decide what’s relevant at this and every other point. I’m not the one going by the handle AGE_Inside_Information. As to not wanting to post half of what you know, this is a mathematical impossibility, it’s impossible to divide any number by zero. It’s astonishing that you can type for what must have been an hour and say abosolutely nothing. Wow!

AGE_Inside_Info:

There's a T in Holtzee, but that's okay and my "intent" as stated in responding to your posts as well as a few other posters is to make everyone aware it's indeed a "dog eat dog" world out there and when firms merge/acquire one another, often times somebody gets more than his/her fair share and others get crumbs.

I expect this acquisition will be no different. The headhunters are salivating and some have already posted here to offer their help. I advise AGE brokers to listen, look, but not leap too fast as the first offer may not be the best one.

Overall this forum can be very helpful, especially to rookies (persons with 5 years or less experience in the financial services sector).

Thanks, AGE_Inside_Info, for reminding me to clean out my in-box.

Yolanda, I just read your bio. I am having trouble understanding what you’re looking to add to/take from this thread. If you’re looking for AGE inside info., I’d think you’d take a more passive role (I.E. not actively posting). You certainly have nothing to add on the topic and have asserted that you have “no dog in the fight”. Maybe you should spend this time going after Index-Linked annuity pushers or proprietary funds that have 2.5% expense ratios and under perform the market by 50%, for example.

Like I said initially, my "intent" is to assure AGE brokers are aware that history often repeats itself. I believe WB has learned from the mistakes made with previous mergers/acquisitions (particularly the PRUSec one). Quite a bit can be learned from that one for everyone.

I was not soliciting ANY information from AGE_Inside_Info. I passed along some information to him/her which is pertinent to this deal, too.

I have no interest in soliciting any AGE broker to jump ship or to stay for that matter. That applies to all brokers who post here. I am not a headhunter.

Best wishes to all brokers and their clients, including the AGE ones (including you).

Thanks for the best wishes. Go Badgers!

Some new articles today about the AGE-WB deal with possibly a little "new" information in Investment News.

One's by Bruce Kelly who followed the WB-PRUSec merger very closely and the other is by Kathy O'Donnell who followed the PRUsec mutual market timing mess very closely while at the Boston Globe.

Also, there's an AGE-WB article in the Charlotte Business Journal today. It's written by Will Boye who was with Wall Street Letter during the "merger" of Wachovia Securities and PRUSec.

This article is available only to paid subscribers but it again states WB has concerns with respect to retention of AGE brokers.