Bac
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It’s done after hours (probably online) while you’re drinking 4-5 glasses of wine…
The reason you haven't seen a lot of FA's fleeing BAI is because it takes some time to interview other firms and gather up the clients. Also, April is a trail month for CSG so I most FA's are waiting until the May 15 paycheck.
The year-end bonus (where you recoup your missing trails and qualify for the 14% bonus in the form of 3 year vesting stock options) consists of more than just 3 contacts/day. You also have to refer $3 million in mortgages, CD's, HELOC's, etc. back to the bank. Those are very difficult goals to achieve. The BAI compensation is by far the worst I've ever seen in this industry.
They are having no success in attracting the experienced wirehouse brokers because anyone with any experience can just ask the friendly neighborhood wholesaler and figure out that BAI is falling apart. It's laughable when I see the new recruits that they do hire. Two years of experience and no book. I guess it's good for them because they have the ability to build a book, make no money, and then leave after a few years.
Pathways (for new brokers) is actually a great program but a lot of it depends on where you’re at. Most drop out after the $40k salary ends (18 mos.) but during that time, you can build a pretty good book. Payout sucks but who cares when you’re getting the salary.
$3 million in bank referrals, can you believe that? I’m still waiting for the $1.8 mill/qtr that those piker premiers are supposed to send me.
[quote=Indyone]It’s done after hours (probably online) while you’re drinking 4-5 glasses of wine…[/quote]
Nothing positive when it comes to getting referalls. The plan just changed for premier.They now get PENALIZED if a referral moves money from deposits to investments.
good luck getting anything approved. I do very little in annuities but They call your clients on every annuity ticket and try to talk them out of it. all they want is fee based. I could put a 90 yr old widow in a all stock port and get a pat on the back from mangt
[quote=ezmoney]Mgmt is weak. A bunch of yes men.[/quote]
What do you figure makes a strong management team?
[quote=NASD Newbie]
[quote=ezmoney]Mgmt is weak. A bunch of yes men.[/quote]
What do you figure makes a strong management team?
[/quote]
I didn't think you'd know, Putsy.