You know… you’re right. Good luck to all and to all a good night.

I am a recruiter and representative of Polar Investment Counsel, Inc. an independent full service broker dealer / advisory.

Our chairman worked with AGE from 1989-1995 and then left to set up his own BD.  During that time, he was a Chairman's counsel level producer and at the time of his leaving in 1995, he was by far their top producer in managed futures at the firm.

For all those who are thinking this deal isn't what it's cracked up to be, please check out our website www.icebear1.com.  We offer an 85% - 90% payout, currently our clearing ticket charges are $16 for equity, $10 + .75 cents for options. 

We welcome the opportunity to talk to anyone who wants to be an owner and not an employee.

NEWSFLASH TO ALL RECRUITERS: AGE’s real producers need not pad your

phat pockets w/ part of their recruiting bonuses. AGE brokers are in

major demand. All they have to do is call up any wirehouse BM they want

an interview with or any Indy 1-800 number or regional recruiter that

works direct for the specific Indy Firm.



Where did all the recruiters trolling RR get the idea that they are needed.



As per AGE deal, agree completley w/ BrokerMike. Deal is best for lazy

old timers who would never move anyway and Huge guys at the top

(cause they are getting other specialized bonuses that are not available to

the lowlies).



Also, BrokerMike is wise in relaizing that it is only a matter of time before

payouts equalize with WB’s. AGE already trimmed payouts in 2006 to

prepare AGE reps that the haircuts are only going to get bigger. Surprised

no one started a blow-by-blow payout comparison grid. Didn’t anyone at

AGE think it odd that VA payout went from 44 to 40 in 2006. Ask Joe, he

gets more than 90 percent payout on his, and Indy’s credit you the whole

gross to begin with. Wires don’t. Little known factoid.



The recent Financial Advisor magazine shows all the Indy Firms’ payouts.



Best Wishes to all in Planning your future in this great time in history for

Financial Planners!

Wac Sec has never, unlike some firms, "haircut" Annuities or Mutual Funds.FA's get 100% to gross. Never forced to push any product. The cuilture at Wach Sec is a close as you will find to AGE. It not a ML,SB,UBS or MS. Its also not bank like. It run by Brokerage people not bankers. It wil offer AGR FA's the ability to grow and prosper.

Running your own shop is not for everyone. I have several friends that do so and find it a bit of a pain. They have only been able to grow there business a small percentage.

Don't let anyone push you, give Wac Sec a chance and if you don't find it's for you then move.

The grass always looks greener in your neighbors yard.

[quote=AGE_Inside_Info]NEWSFLASH TO ALL RECRUITERS: AGE's real producers need not pad your
phat pockets w/ part of their recruiting bonuses. AGE brokers are in
major demand. All they have to do is call up any wirehouse BM they want
an interview with or any Indy 1-800 number or regional recruiter that
works direct for the specific Indy Firm.

Where did all the recruiters trolling RR get the idea that they are needed.

As per AGE deal, agree completley w/ BrokerMike. Deal is best for lazy
old timers who would never move anyway and Huge guys at the top
(cause they are getting other specialized bonuses that are not available to
the lowlies).

Also, BrokerMike is wise in relaizing that it is only a matter of time before
payouts equalize with WB's. AGE already trimmed payouts in 2006 to
prepare AGE reps that the haircuts are only going to get bigger. Surprised
no one started a blow-by-blow payout comparison grid. Didn't anyone at
AGE think it odd that VA payout went from 44 to 40 in 2006. Ask Joe, he
gets more than 90 percent payout on his, and Indy's credit you the whole
gross to begin with. Wires don't. Little known factoid.

The recent Financial Advisor magazine shows all the Indy Firms' payouts.

Best Wishes to all in Planning your future in this great time in history for
Financial Planners![/quote]

How do you know that PICI isn't a sleeper of a little firm? They clear through SWS, which is perfectly decent and they could be solid guys that are reasonable people vis-a-vis compliance and signing selling agreements on deals that you find and want to sell.

Certainly appears that AGE FC's are still frustrated. The major hurdle at this point now appears to be the payout grid going forward. If WB holds their current grid payout, then the retention package is a wash. The 20% additional bonus is really a plan that you MUST dedicate ourself to WB for a 10 year period. The 20% add on starts at the time of deal closing, then you stay for 5 years and get the money placed into a deferred comp program that vests after another 5 years. To me that totals 10 years for a 100% add on bonus that you get to keep.

I really think that many FC's at AGE will have to run the numbers carefully. The retention package will take alot of thought and careful consideration. I believe that many AGE FC's would feel a whole lot better if they had a "payout grid" that would be announced and etched in stone for 5 or 6 years. Thats the biggest fear, to take the retention then find out that the payouts will be cut to WB levels. Time will tell, and certainly WB will stoke all AGE FC's into a story of good times. It's really hard to believe what anybody back in Richmond says or St.Louis. It's the men and ladies down in the trenches that produce the revenue for the firm. Several posters are correct in the fact that the stock has done well. AGE FC's who own the stock and have options will have a lot of money made, BUT, the price to pay for a much lower payout and lots of extra hard work for less pay over the long run, truely hurts the lower producer in the $300-$400 range. And realisticly a $400,000 producer at AGE really make a good buck with bonuses, and P/S firm contributions.

It won't be an easy decision to take the retention bonus and those who take it all upfront may be the biggest losers, if they ultimately leave and have to pay the money back, after most likely spending some of it and after paying taxes on the income. WB won't care about that, they will just force you to pay the prorated loans back at full value. That automatically puts the AGE FC upside down  with the retention funds. like a car loan. I strongly feel the only way to take the retention bonus is year by year. If you leave, you gained something with no paybacks, and you get to move on.

If only WB would announce a firm payout grid, explain annual bonus's, and explain the possible loss of the P/S program that would help. I am very afraid, that  AGE FC's will have taken their retention options by Oct 2007, to only find out,  the final payout grid, bonus structure and P/S programs if any have been cut or eliminated.

The P/S has been one of the greatest in the industry, and may be the biggest loss the AGE FC.

All in all, it will be tough times with AGE FC's going back and forth in their own minds, what's really best for them. Without the advanced information of production payouts, bonus structure and cuts in the P/S program without solid information it is very difficult to make a final decision. Granted every FC is in their own financial situation and may be late in their career or early in their career. At this point, it appears it's every person from themselves to do what's right.

Bottom line is WB will never be an AGE with the AGE culture. Every AGE FC gets hurt by this sell out, merger, combination whatever you call it. It's a shame after 100 + years that the culture of AGE comes to an end. WB will NEVER be able to take the AGE blood and heritage out of the AGE FC. The combination of WB and AGE will never be the same.

In fact, WB would have been alot smarter to  retain the name of Wachovia-AG Edwards, rather than to throw all the hard working FC at AGE down the river.

Every AGE FC should push hard and insist to find out the other important matters like future payout grids, bonuses, and if the P/S program will be eliminated. These are VERY IMPORTANT factors to consider,rather than just thinking that a 30-40-50% bobus over shadows these important matters. Convey the importance of knowing these matters to your Regional Officer, and BM so that they can convey these concerns to the upper level guys at WB.

Without knowing whats ahead, it wil be difficult to make a real hard and honest decision to take the retention packages or seek other alternatives, with other National, Regional or Independent firms.

Best to all and the best to all of the hard working, and dedicated AGE FC's. You guys deserve only the best because you are the best.

[quote=Downunder]

Certainly appears that AGE FC's are still frustrated. The major hurdle at this point now appears to be the payout grid going forward. If WB holds their current grid payout, then the retention package is a wash. The 20% additional bonus is really a plan that you MUST dedicate ourself to WB for a 10 year period. The 20% add on starts at the time of deal closing, then you stay for 5 years and get the money placed into a deferred comp program that vests after another 5 years. To me that totals 10 years for a 100% add on bonus that you get to keep.

I really think that many FC's at AGE will have to run the numbers carefully. The retention package will take alot of thought and careful consideration. I believe that many AGE FC's would feel a whole lot better if they had a "payout grid" that would be announced and etched in stone for 5 or 6 years. Thats the biggest fear, to take the retention then find out that the payouts will be cut to WB levels. Time will tell, and certainly WB will stoke all AGE FC's into a story of good times. It's really hard to believe what anybody back in Richmond says or St.Louis. It's the men and ladies down in the trenches that produce the revenue for the firm. Several posters are correct in the fact that the stock has done well. AGE FC's who own the stock and have options will have a lot of money made, BUT, the price to pay for a much lower payout and lots of extra hard work for less pay over the long run, truely hurts the lower producer in the $300-$400 range. And realisticly a $400,000 producer at AGE really make a good buck with bonuses, and P/S firm contributions.

It won't be an easy decision to take the retention bonus and those who take it all upfront may be the biggest losers, if they ultimately leave and have to pay the money back, after most likely spending some of it and after paying taxes on the income. WB won't care about that, they will just force you to pay the prorated loans back at full value. That automatically puts the AGE FC upside down  with the retention funds. like a car loan. I strongly feel the only way to take the retention bonus is year by year. If you leave, you gained something with no paybacks, and you get to move on.

If only WB would announce a firm payout grid, explain annual bonus's, and explain the possible loss of the P/S program that would help. I am very afraid, that  AGE FC's will have taken their retention options by Oct 2007, to only find out,  the final payout grid, bonus structure and P/S programs if any have been cut or eliminated.

The P/S has been one of the greatest in the industry, and may be the biggest loss the AGE FC.

All in all, it will be tough times with AGE FC's going back and forth in their own minds, what's really best for them. Without the advanced information of production payouts, bonus structure and cuts in the P/S program without solid information it is very difficult to make a final decision. Granted every FC is in their own financial situation and may be late in their career or early in their career. At this point, it appears it's every person from themselves to do what's right.

Bottom line is WB will never be an AGE with the AGE culture. Every AGE FC gets hurt by this sell out, merger, combination whatever you call it. It's a shame after 100 + years that the culture of AGE comes to an end. WB will NEVER be able to take the AGE blood and heritage out of the AGE FC. The combination of WB and AGE will never be the same.

In fact, WB would have been alot smarter to  retain the name of Wachovia-AG Edwards, rather than to throw all the hard working FC at AGE down the river.

Every AGE FC should push hard and insist to find out the other important matters like future payout grids, bonuses, and if the P/S program will be eliminated. These are VERY IMPORTANT factors to consider,rather than just thinking that a 30-40-50% bobus over shadows these important matters. Convey the importance of knowing these matters to your Regional Officer, and BM so that they can convey these concerns to the upper level guys at WB.

Without knowing whats ahead, it wil be difficult to make a real hard and honest decision to take the retention packages or seek other alternatives, with other National, Regional or Independent firms.

Best to all and the best to all of the hard working, and dedicated AGE FC's. You guys deserve only the best because you are the best.

[/quote]

Is Downunder a recruiter?

Yep.  And pulling his hair out, trying to bring back the unrest we had before the announcement.  It's 7:45 and he's still trolling.

I keep hearing how if we make this deal, THEN we'll find out what the grids are etc.  WHO GIVES A $HIT?  I take the money and if in a week month or year I don't like the grid THEN I leave.  Give the money back and tear up the agreement.  It's a free look.  So stop making it something that it's not.

Face it recruiters, the ones who are screwed are you not AGE FC's.

Five Questions and a Comment:

1.  At what point do funds received from the AGE retention everything-up-front loan become taxable -- all at once or one-sixth per year for six years (or "never" because, and this could just be semantics, it is a loan and not compensation)?

2.  If funds are received in 2007 and if they will be taxable, will the amount be factored into the profit sharing calculation?

3.  If the funds received are deemed taxable, can salary deferral be elected, i.e., divert a percentage of the funds into the 401(k)?

4.  Did anyone else see on the "Important Information" page the reference to "monthly bonus" under the loan bonus (Option #1) arrangement?  What's that all about?

5.  If one would accept the lump sum, then leave in, say, six months, what percentage of the lump sum would need to be repaid?  Five-sixths -- meaning the first sixth vests immediately?  Eleven-twelfths -- meaning everything is prorated based on the 66 remaining months out of the 72-month (six year) period?

Commnent:  Agreed ... there needs to be absolute clarity on the structure and 6-year (or 10-year) non-reduction characteristics of the pay grid (including the bonus structure and 401(k) / profit-sharing plan) BEFORE we can be expected, fairly, to sign anything.  If they want to dangle a carrot, we need to be assured it's actually a carrot...

I am NOT a recruiter!!

Actually you would all be very surprised to find out who I really am.

FL BROKER has made some very good points of interest, and all FC's need to be aware of his points and his questions need to be resolved.

Good points FL Broker.

[quote=Downunder]Actually you would all be very surprised to find out who I really am.[/quote]

You'd have to tell us in order for us to be surprised.  You won't, of course.

I'm so glad I am not you guys.

My life is good.

I'm my own boss.

I am in controll of my own life.

RabbitStew:



Your boss is an idiot.



If you think you have control over life, then you’re not too smart. Life will

kick you in the teeth for even thinking such a thing.



You have nothing to contribute here except for your holier than thou

attitude.

[quote=Bobby Hull]

[quote=AGE_Inside_Info]NEWSFLASH TO ALL RECRUITERS: AGE's real producers need not pad your
phat pockets w/ part of their recruiting bonuses. AGE brokers are in
major demand. All they have to do is call up any wirehouse BM they want
an interview with or any Indy 1-800 number or regional recruiter that
works direct for the specific Indy Firm.

Where did all the recruiters trolling RR get the idea that they are needed.

As per AGE deal, agree completley w/ BrokerMike. Deal is best for lazy
old timers who would never move anyway and Huge guys at the top
(cause they are getting other specialized bonuses that are not available to
the lowlies).

Also, BrokerMike is wise in relaizing that it is only a matter of time before
payouts equalize with WB's. AGE already trimmed payouts in 2006 to
prepare AGE reps that the haircuts are only going to get bigger. Surprised
no one started a blow-by-blow payout comparison grid. Didn't anyone at
AGE think it odd that VA payout went from 44 to 40 in 2006. Ask Joe, he
gets more than 90 percent payout on his, and Indy's credit you the whole
gross to begin with. Wires don't. Little known factoid.

The recent Financial Advisor magazine shows all the Indy Firms' payouts.

Best Wishes to all in Planning your future in this great time in history for
Financial Planners![/quote]

How do you know that PICI isn't a sleeper of a little firm? They clear through SWS, which is perfectly decent and they could be solid guys that are reasonable people vis-a-vis compliance and signing selling agreements on deals that you find and want to sell.

That is exactly what PICI is all about.  For example we have far more managed futures products on the shelf than AGE does!  And, yes, SWS is more than decent, and with front line technology.

[quote=Downunder]

Broker 010, and others:

What's your honest opinion, for below $400,000 FC's.

Will you stay or look for alternatives?

Doesn't look like a good deal for below 300,000.

Your thoughts since you have been so active here.

Most of the large wirehouse firms are quite alike, but the independent firms are not.  In this situation ( production below 400k or lower ) you need to consider becoming and independent ( assuming you have the drive and desire ). 

These days, there are not a lot of choices for the smaller ( certainly under 300k ) producer unless you are happy working for say 20%.  I was chairman's council at AGE a bit more than 12 years ago, and in those days crest club was only 175K I believe.  www.icebear1.com

[quote=Recruit 4 PICI]

Most of the large wirehouse firms are quite alike, but the independent firms are not.  In this situation ( production below 400k or lower ) you need to consider becoming and independent ( assuming you have the drive and desire ). 

These days, there are not a lot of choices for the smaller ( certainly under 300k ) producer unless you are happy working for say 20%.  I was chairman's council at AGE a bit more than 12 years ago, and in those days crest club was only 175K I believe.  www.icebear1.com

[quote=nestegg]

[quote=Recruit 4 PICI]

Most of the large wirehouse firms are quite alike, but the independent

firms are not. In this situation ( production below 400k or lower ) you

need to consider becoming and independent ( assuming you have the

drive and desire ).

These days, there are not a lot of choices for the smaller ( certainly

under 300k ) producer unless you are happy working for say 20%. I was

chairman’s council at AGE a bit more than 12 years ago, and in those days

crest club was only 175K I believe.

www.icebear1.com

Just FYI it’s actually Thief River Falls, please learn to read correctly.  Yes, I did get a lot of grief from many of the firm’s brokers about the address when I moved here ( from Burlington, Wisconsin ) about two years ago.  But, the location does not change what the firm is, nor what we have to offer.