Steifel-UBS. RUT ROW
Heard Steifel might implode over this…not going too well
Any details? Will the deal go thru? Any comments?
How could they implode? It is not like they are taking bad assets.
I am sure UBS is dragging its feet like always. Everything I have heard is it going fine and on schedule.But he is up to 14 awful posts, so he has that going for him…which is nice.
World Peace s a freaking clown. Once again another dumbass who has no good arguments and must resort to wild conjecture.
hit a nerve.
sorry got sick of you regional guys talking all your bad a*& trash talk again, the majority of u guys are doing under 500 in good times. minors stfuJust to confirm WP, nobody here gives a fk what you think or say.
You have your head up your own threaded ass.
You have no wit, you have no game, you add zero to these forums, fk off before Nurse Ratchet finds out your missing.
Fking stupid dipsh!t.
Implode…yup…lol
We either gain office or we don’t wont hurt us either way.
Nothing like needing gov’t money so we can pay our bills we racked up by not knowing how to manage our own money let alone our clients money ahla Morgan, Merrill, Citi, Bank Of America, Wachovia, Wells, UBS…etc etc etc…sound familiar?
No reason to feed the troll guys…must be another wirehouse guy whose prod is so far down he can’t move and is stuck in the penalty box!
“again, the majority of u guys are doing under 500 in good times.”
You sound like a true company man. I say that because I can't help but wonder why anybody would care about the revenue that they bring in for their company. After all, isn't that was is meant by gross? If you thought like a businessman instead, you would realize that gross doesn't mean anything. It's net income, baby, that counts. I'm proud to say that my income is greater than my gross.WORLD PEACE= s&p low 666=CDO squared=JayMc
Once a douche, always a douche. Can't wait to see who his fifth ID will be and if he will bring back the haiku.[quote=Sam Houston]WORLD PEACE= s&p low 666=CDO squared=JayMc
Once a douche, always a douche. Can't wait to see who his fifth ID will be and if he will bring back the haiku.[/quote]I am waiting with bated breath lol!
[quote=Sam Houston] WORLD PEACE= s&p low 666=CDO squared=JayMc
Once a douche, always a douche. Can’t wait to see who his fifth ID will be and if he will bring back the haiku.[/quote]
You say that like Haiku is a bad thing, like it’s some throw away form of verse which hasn’t changed lives and even the world around us. Well, to paraphrase Lloyd Dobler, “Full contact Haiku; it’s the sport of the future.”
I manage a Stifel Branch. The UBS merger is going fine. By the way, I opened the doors 3 months ago and I already had two million dollar plus producers leave a big bank to join me. They are not a team.
[quote=WORLD PEACE]
hit a nerve. sorry got sick of you regional guys talking all your bad a*& trash talk again, the majority of u guys are doing under 500 in good times. minors stfu [/quote] You didnt hit a nerve, you made an asshole out of yourself. This guy might qualify as the NEW biggest asshole on the forum. He either is just bleeding kool aid at a level that he needs help, or (more likely) he;s dying to go indie, but doesn;t have the balls!!![quote=iceco1d][quote=Sportsfreakbob][quote=WORLD PEACE]
hit a nerve. sorry got sick of you regional guys talking all your bad a*& trash talk again, the majority of u guys are doing under 500 in good times. minors stfu [/quote] You didnt hit a nerve, you made an asshole out of yourself. This guy might qualify as the NEW biggest asshole on the forum. He either is just bleeding kool aid at a level that he needs help, or (more likely) he;s dying to go indie, but doesn;t have the balls!!![/quote] Just so I know I'm following correctly; who did he take that title from?[/quote]Me.
Sorry ice, I aint getting into that part of it. (Don;t want to hijack the thread )
Just for the record though, you said it Alice, not me!Yes, the UBS/Stifel acquisition is going fine except for that 4 branches I know of that have totally imploded and literally been closed already before the deal formerly closes. Kennewick WA is a good example. The biggest team in there left to RBC in Kennewick 2 weeks ago. Everyone else either followed to RBC or is out. It was closed. Another office in the midwest is about to fall out as 4 FAs making up 90% of the business just left last Thursday. No way Stifel keeps that open in a couple of trainees.
The thing you have to realize about this deal is Stifel has the “option” to buy up to 55 branches, if branches implode they don’t have to take those…they will only take the ones worthwhile
Any updates on how many branches went to Stifel from UBS?
I thought I saw a press release that 55 branches were officially purchased. I think there were only 11 advisors who did not sign up out of the 340.
I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials.
[quote=thunderkwb]I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials. [/quote]
Why do you think they haven’t had much success w/ moving assets? I would think that the SF story would be much more appealing to a client than the confusion of MSSB. Especially from guys who have had long relationships with their clients (20 yr los). Just wondering…
Clients may not want to go to Stifel any more then they want to stay at Citi-morg.
Instead of moving twice once to Stifel and then out to another advisor they may stay at Citi-morg untill they find a honest firm to transfer to.Both of the guys never really invested in their business or tried to educate themselves , they just sold products, hardley gave advice. On top of that they were out the door 15 to 30 minutes after the closing bell. The clients I have inherited never talked bad about their experience with those brokers, but like the accounts and features here. Plus, for the same price they get a team that will offer more than just investment advice. Greenbacks- you are a real class act, you know that! You keep slamming the Citi and MS shows your insecurity, you keep talking trash while your clients are going watch our commercials and see more and more of our capabilities. Sooner or later, you see the ACATS come in, do yourself a favor focus on your own book before it is too late![quote=thunderkwb]I don’t know about Stifel imploding, I am at MSSB and we have 2 of our 20 yr plus leave to Stifel. One did $340k the other $275k and now the local Stifel branch is at 7, it’s not going to great for them as far as moving assets over so that can’t be helping their branch. Having said that, I do respect Stifel for how well their stock has held up relative to the other financials. [/quote]
Why do you think they haven’t had much success w/ moving assets? I would think that the SF story would be much more appealing to a client than the confusion of MSSB. Especially from guys who have had long relationships with their clients (20 yr los). Just wondering…
Thunder you are some what right I am pissed at the wires and the big banks.
My E&O goes up because of the crap they do and the bad name they give all of us.[quote=Greenbacks]Thunder you are some what right I am pissed at the wires and the big banks.
My E&O goes up because of the crap they do and the bad name they give all of us. [/quote]You habitually put out some of the most ridiculous, illiterate, near-incoherent nonsense I’ve ever read on any internet financial professional website. I doubt your E&O insurance rates have anything at all with large banks or brokerages. Sure, there’ve been some black eyes given to the industry by registered reps from wirehouses and banks, but there’s been no shortage of scandal in independent shops either.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The fact is you’re eternally pissed at banks and wirehouses because you’re just barely smart enough to know that none of them would hire someone with your obviously limited skill set. If you were just two IQ points lighter, you’d be blissfully aware of how you could never make the cut anywhere with even minimal recruiting standards. That’s not true universally of independents, but it clearly is true of you. Based on that anger, you’re here venting in the most ridiculous fashion 24/7/365.
Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own.[quote=Greenbacks]Clients may not want to go to Stifel any more then they want to stay at Citi-morg.
Instead of moving twice once to Stifel and then out to another advisor they may stay at Citi-morg untill they find a honest firm to transfer to.[/quote]Honest firm...lmao...you mean a firm that hasn't imploded and needed bail out money....oh yeah that is Stifel I forgot.
The only reason they are not taking assets is because they don't have good relationships...nothing to do with how good or bad the firm they are leaving is and how good or bad the new firm is. We left In Jan, went to SF from Wachovia/AGE/Wells/Whatever and have taken over 90%...70%+ was over in the first month...it was VERY easy...Stifel has a great story, clients are unhappy, and if you have a good relationship they will follow...period
I concur. Had one of the few guys I didn’t get 6 months ago call me out of the blue to ask about acat’ing as he is getting no love at whatever AG Edwards is called now.
I have not read this post in full, but all of you employees out there need to recognize the basic truth not provided by your employer: Brand (firm) means very little. The relationship you have with YOUR client supercedes any impression of the brand.
We all work with the same, archaic FINRA rules (might I point out the $100 gift rule circa 1971) in the same markets under the same licenses. If you hire some entity for your b/d rather than the b/d hiring you, you will have proper alignment of values, period. If you are happy being an employee, fantastic since not everyone wants to run their own shop. If you are inclined to leave the employee ranks, then you will keep the clients if YOU are the product, the intellectual capital.[quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote]+1
[quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote] You're one slow learner, aren't you? Do you know what E&O covers? It doesn't cover the blanket of things you've called "scandals" on Wall Street. It covers what it says, errors and omissions. The companies offering you E&O insurance haven't paid a dime on Wall Street "scandals". I suggest you talk with your peers that are buying that same insurance and ask THEM what they've done to have your rates jacked up. Blaming your E&O insurance rates on events not even covered by E&O insurance is like a fool claiming his car insurance went up because of hurricanes in the Dominican Republic. Stick with your present situation, you wouldn't be employable elsewhere.[quote=alwaysaguest][quote=Greenbacks]Wow I think I hit a nerve in your empty head.
So our E&O is not tied to the scandals on wall street. Keep drinking that kool aid. So the cost of FDIC insurance is not tied to bank failures either.My health insurance is not tied to the cost of doctor’s malpractice insurance either.
.
You need to to stay at the firm you are with because you are not bright enough to think on your own. [/quote] You're one slow learner, aren't you? Do you know what E&O covers? It doesn't cover the blanket of things you've called "scandals" on Wall Street. It covers what it says, errors and omissions. The companies offering you E&O insurance haven't paid a dime on Wall Street "scandals". I suggest you talk with your peers that are buying that same insurance and ask THEM what they've done to have your rates jacked up. Blaming your E&O insurance rates on events not even covered by E&O insurance is like a fool claiming his car insurance went up because of hurricanes in the Dominican Republic. Stick with your present situation, you wouldn't be employable elsewhere.[/quote] +1^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[quote=nestegg]
^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[/quote] Egg, you are grasping for straws buddy, big time! I would have been out of the business years ago if that was my approach. I don't use fee based as a waiver for account fees, our team has never ever had an issue about explaining price because the value we have shown our client, and we our very transparent with our charges. Maybe it is an issue for you because your client can't get passed the Account fee to see your value, our maybe you just push them all in bonus product annuities, just a guess.[quote=thunderkwb][quote=nestegg]
^^^so you sell fee based as a way to waive the IRA and acct fees LMAO!
Mr. Client...I know these IRA fees are such a hassle who wants to pay 40 bucks a year...please sign here to waive all those annoying fees...you wan't even pay any commissions...oh did i forget to mention you now pay 2500 a year instead lol[/quote] Egg, you are grasping for straws buddy, big time! I would have been out of the business years ago if that was my approach. I don't use fee based as a waiver for account fees, our team has never ever had an issue about explaining price because the value we have shown our client, and we our very transparent with our charges. Maybe it is an issue for you because your client can't get passed the Account fee to see your value, our maybe you just push them all in bonus product annuities, just a guess. [/quote] I was being sarchastic...laugh a little..it makes life more fun...the way you wrote your first post sounded exactly like what I posted though which I got a chuckle out of. As far as me...I have a good balance between Fee Based and Commission Based accounts...never done a Bonus Annuity in my life, and my clients don't pay any account fees regardless of acct size...I don't work for a bloated firm that needed a bailout and needs to nickel and dime their clients to death...so acct fees are a non issue to me or my clients. Oh yeah and we had our 13th straight year of record profits last year...and somehopw did that with no nickel and dime acct fees...amazing isn't it...oh yeah and no bailout money either. I was in your boat before, so I know how it is to try to work around the fees and find wqays to waive them etc...much nicer when you don't have to worry about silly things like that, and can focus on your clients!Point taken! My approach is these are my clients, regardless of your firm. If you do a good job for your clients they will follow you anywhere if your move is for the right reasons. Whether it us wirehouse guys poking fun of the small Indy guy or the indy criticizing the "evil" wirehouse that had a bailout, it boils down to how good of an advisor you are and your clients trust. Another words the sign on the door means nothing!
TD waterhouse.
[quote=AGEMAN][quote=thunderkwb]
[/quote] I was being sarchastic...laugh a little..it makes life more fun...the way you wrote your first post sounded exactly like what I posted though which I got a chuckle out of. As far as me...I have a good balance between Fee Based and Commission Based accounts...never done a Bonus Annuity in my life, and my clients don't pay any account fees regardless of acct size...I don't work for a bloated firm that needed a bailout and needs to nickel and dime their clients to death...so acct fees are a non issue to me or my clients. Oh yeah and we had our 13th straight year of record profits last year...and somehopw did that with no nickel and dime acct fees...amazing isn't it...oh yeah and no bailout money either. I was in your boat before, so I know how it is to try to work around the fees and find wqays to waive them etc...much nicer when you don't have to worry about silly things like that, and can focus on your clients![/quote]Point taken! My approach is these are my clients, regardless of your firm. If you do a good job for your clients they will follow you anywhere if your move is for the right reasons. Whether it us wirehouse guys poking fun of the small Indy guy or the indy criticizing the "evil" wirehouse that had a bailout, it boils down to how good of an advisor you are and your clients trust. Another words the sign on the door means nothing!
[/quote] That would be nice to not have to worry about the pesky fees. It seems as though the firms would realize the wasted time involved in talking to clients about fees, justifying them, planning on ways to avoid them. The fees probably cost the firms money instead of making them money, but they are shortsighted and can't figure that one out. By the way what firm is it that has no acct fees??[/quote]
I am former AGE...now at Stifel Nicolaus....no acct fees on a standard acct...includes free checking, monthly stmts with cost basis, MasterCard Debit card, choice of FDIC Bank Deposit OR Several Money Market Funds. You can upgrade to an acct for $60.00 that gives you some other bells and whistles, a MC Debit Card with reward points etc...but that still is a fraction of the cost of most firms.
anyone hear the rumor that steifel-ubs deal falling apart? Too many little offices that are not profitable and good producers are leaving before the the deal is done.
It’s happened but I think it’s sort of old news. A few offices, Kennewick WA for example, did implode, close and get dropped from the deal, however most have not from what I can tell.
Rumor is that the first waive of office conversions happened over last weekend and went far better than expectated. From a very credible source in upper mgt yesterday.
First wave out of three did close last weekend. I understand that it went well also. It is all on schedule.
Yes first waive is complete…welcome guys and gals!
nest why is Joe B so bearish!
has gone from Perma-bull to Perma-bear.nest why is Joe B so bearish!
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