Question for anyone that can provide some insight: What happens when a broker leaves for a big check, and manages to bring over only a fraction of what they "promised" to deliver in regards to assets/production. In particular, production cause we all know that is really what matters most.
I've heard that (often) the firm tries to get them to leave, so they can get back a large portion of the upfront $. And try to keep the few clients that came over to try and recoup even more. They do this by making life for the broker miserable, albeit in a legal/proper manner. Anyone have any insight on this?
Makes sense that they would do that. Sounds like you've got a pretty good handle on it. Why, what's going on in your life right now?
Ace- I haven’t jumped ship. We had a number of big hitters take off a year ago (bank to wirehouse) and I know very little has left. I’d like to know what is facing the FA’s that left. They were so sure that all would follow. The opposite has happened.