Switching Firms
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Any ideas on bonuses going from MSDW to SSB…trailing 225k
[quote=cracker]Rule of thumb seems to be 100% - 150% of trailing 12.[/quote]
I could be wrong, but while wirehouse deals are certainly up in that range I doubt you'd get that high on T12 of only $225k.
Why are you considering leaving MSDW? Just curious, because I will be starting with them in next week.
Not even. I just had my 2nd interview the other day and was told I would find out within the week if I will be starting. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
I wouldn’t suggest going anywhere with only $225k in production.
I think those with lower production and less-established client
relationships (in years) are more likely to lose clients in a
move. Big producers will take almost all. Smaller producers
usually don’t do as well.
I’d wait to hit 350k - $400k, then move.
Just my opinion.
I hear what you are saying, but I have a few dynamics at work...
1) places are hot to steal MSDW brokers right now.
2) only 3 years in production
3) clients are spoken to at least weekly
4) very top heavy with clients (a few realtionships are my book) and therefore i will know before i switch who will come. if not enough, i will stay
General question…if anyone was in a similar situation like mine, who else would you look at in addition to SSB?
The usuals, alsoo compare ML and UBS, see where you fit and who has the best deal!
[quote=frumhere]
I hear what you are saying, but I have a few dynamics at work…
1) places are hot to steal MSDW brokers right now.
2) only 3 years in production
3) clients are spoken to at least weekly
4) very top heavy with clients (a few realtionships are my book) and therefore i will know before i switch who will come. if not enough, i will stay
[/quote]It's good to stay in touch with them, but if you're calling weekly you're 'spoiling' them, and creating a book of business that will be very difficult to expand beyond a certain point.....in my opinion...
not each of my clients. i am top heavy. the relationship with 15mm and the relationship with 6mm i speak to all the time.
How many years are you in the business?
My experience has shown that anything under $250 will not garner much interest.
I was in your boat last year. Moved to UBS. Got 75% of training 12
upfront 25% if I hit certain golas the next two years. Transition went
smooth.