That is the career equivalent of going from driving a 2005 Mercedes C-Class to an '84 Yugo.  Hope that answers your question.  BTW, I shorted HRB in my own account today.  I’m totally serious.  That company is in big time trouble.

something isn't right when they have to put that generous a comp package on the table for you....

Don’t walk, run

I’m giving Block my notice next week.  I left a huge firm for the 50% payout.  I would encourage you to read the most recent edition of Fortune Magazine about the future of HRBFA (H&R Block Financial Advisors).  It doesn’t look pretty.  Big wigs are jumping ship.  Ernst is not ruling out a sale.  No response to the Fortune article has been made to the field.  Sad, really.  Tax side is not on board.  Buyer beware!!!

By the way...

Soothsayer is right on.  I'll likely be selling my BMW!!!

Rambo

And remember, K-Mart bought Sears.  Maybe H&R could be incorporated as part of a “blue light special.”

That would be a sad situation if you made that move.

85% of you biz is fee based, you’re with a good firm. Why not just sit back and build your book? I wouldn’t go anywhere but indy, but you don’t have the AUM.

Although Dean Witter started as stocks and socks…

I was offered a very lucrative contract to work as a branch manager at
H&R Block.  The problem is that I was offered the contract
without a serious interview.  They are desperate.



H&R Block has people in Wal-Mart near me.  I’d hate to be tied
to Wal-Mart when talking to large investment clients about their
portfolio’s.  Who would take you seriously?

[quote=joedabrkr]

something isn’t right when they have to put that generous a comp package on the table for you…

[quote=Soothsayer]And remember, K-Mart bought Sears.  Maybe
H&R could be incorporated as part of a “blue light special.”[/quote]



Well, many think that Walmart is destined to get into financial services.



And they will be huge, if they do.



Clients aren’t impressed by a kiosk in Sears?  Why are they impressed by Merrill’s crappy research reports then?

My office is in two doors down from HRB.  They open IRAs and leave people in cash positions for years.  Tells you how well they are working what they have.

You need to do what you do best.  And at HRB it ain't investments.

frank,

hearing that ding-a-ling sound??? Time for your daily kool-aid

Yes, I did hear that sound.  It must have been you opening your mouth.

I have been out of Jones for years and what did my post have to do with Jones?

I love the geniuses that post in this forum. Not one person has been able to step up and give full fledged evidence as to why the original poster should not consider H&R's platform. Instead we have a conversation that looks a lot like this:

Person A: "You should blow yourself up."

Person B: "Why?"

Person A: "Just because."

Person B: "Oh ok that makes sense."

H&R can offer deals because of their primary business which has been doing really well. Diversification hasn't hurt them either. I imagine their database that has access to their cleints W2's would probably benefit guys like you who waste their time posting "Run don't walk" posts instead of getting their hands dirty doing some heavy duty prospecting.

You guys boggle my mind with the whole Sears and Walmart thing. It's as if those companies don't have a wide range of customers. I imagine Sears and Walmart are sitting on their butts just on sheer luck. Think about it, the cliche FA is looking for the small percentage of the population that has a "hgih net worth" when instead they just bypass the numbers game altogether. People who have at least 100k in disposible income to invest shop at Walmart and Sears. I know freaking millionaires who are so tight on their money that shop in those places. Don't assume there is no money to be found just ebcause a client isn't wearing a rolex.

If given the opportunity, I would think twice before underestimating what Block is building on. It's something you're most definitley not going to have access to with any other firm for the meantime.

[quote=inquisitive][quote=Soothsayer]And remember, K-Mart bought Sears.  Maybe H&R could be incorporated as part of a "blue light special."[/quote]

Well, many think that Walmart is destined to get into financial services.

And they will be huge, if they do.

Clients aren't impressed by a kiosk in Sears?  Why are they impressed by Merrill's crappy research reports then?


[/quote]

LOL, bitter isn't pretty 

[quote=Rambo]

Hi -

I am a 4th year Broker at AG Edwards with a 200k trailing 12 and 14MM AUM.  85% fee based. 

I am being offered a bunch of money from H&R Block in the form of 2 years salary ($72k year 1, $60k year 2) PLUS whatever I make at a 50% payout (not a salary vs. draw deal).  Plus a 10% bonus of my gross for the first 3 years.  Plus a 401K match.  All is employment at will, no forgivable loan or employment contract.

Sounds great, but its H&R Block.  Any opinions of their financial advisor program?  Is this a downgrade from AG in terms of respectability?

Thanks - Rambo

[/quote]

I wouldn't make that move for love or money.