Ahead of time?? Why would you do that?  I would suggest calling an attorney on grounds that the company you signed on for is toxic and your clients are starting to jump ship.

Ahead of time because there are currently no good uses for the money. Market sucks, why have it hanging over your head? Doesn’t sound like you work for AGE/WS so you might not know the specifics of the deal.

[quote=Gordon Gekko]…if you were to leave and repay the loan/bonus, what is the best approach? When you leave, ahead of time, or after you leave? I posted this on another thread so excuse the duplication.[/quote]
Gordo,

I’m sure you’ll see my response to your similar post elsewhere, but I’ll add this to your more specific question here.  I found it to be a matter of your personal preference for legal risk.

On advise from counsel, I paid mine back with my resignation letter, in order to minimize their incentive to do have to contact me for anything.  They had everything they needed to close my file, so taking other action would cost them money and might not get them a penny.  It worked in my case.

You could also pay it back afterwards, but in that case they might figure since they have to chase you anyways perhaps there isn’t much risk to them in trying for more.  But they will come after you to recapture whatever unearned retention loan/payment amounts.  It’s just a question of when and how.

I would not suggest paying it back ahead of time, as that would likely set off red flags regarding an imminent departure. 

negotiate after. your likely to keep about 30%.

I left and settled after my departure. Kept 28% and differential paid by new firm as negotiated prior to my acceptance. Client retention of AUM = 94%!

I'm sure most here are slick enough to take whatever you need without fear TRO or litigation!

[quote=Gordon Gekko]Ahead of time because there are currently no good uses for the money. Market sucks, why have it hanging over your head? Doesn’t sound like you work for AGE/WS so you might not know the specifics of the deal. [/quote]

How in the world do you make any money if you get to your desk with that attitude?  Buy CD’s and Treasuries?

Does any one know if a WB broker is going to be on the hook for a loan/bonus?  Any WB broker that signed up with WB up until last week was offered all of Wachovia’s capabilities, (Banking, Wealth Management, Investment Banking, etc.)  Now that it is going to be gone WB has nothing to offer anymore.  From what I here and from my own experience, clients are leaving in droves because no one has a clue about what is going on with the company and there is  a severe lack of trust.  How does the contract hold up when you can’t conduct the business capabilities that were promised?  One a side note, I believe the guy running the shop now mentioned about a year ago that most brokerage firms were not going to make it going it alone but now he might give it a shot with WB Securites and AG Edwards.  Huh? Not looking of legal advise, just posting a thought.

Interesting angle, wolfgang.  There may be some merit in your premise, but probably zero legal standing (he said confidently as a non-attorney).  You would almost certainly need to cite a specific clause in the contract that obligated them to offer anything outside of the brokerage side (i.e. banking, investment banking, etc.)  Unless it specifies something to that effect, it would be hard to argue that you should be released from your loan/bonus as a result of losing something that was never part of the contract in the first place. 

Morph & Wolfgang…my thought also ( again with the disclaimer as to my status in the legal profession ) would present an interesting legal arguement. But I am just guessing somewhere in the Contract …buried somewhere an escape for the Firm if they fail to provide services. I look at these contracts and using English Common Law as the basis of my observations…Master ( Firm ) / Servant ( Employee ) Relationship. It seems the Master always has the better part of the agreement. Perhaps Bill Singer could make comment to the subject?

I am weathering the storm, sir. In all seriousness, I’d be interested to hear what you’d buy in this market. I know that isn’t the thread topic but what the hay.