[quote=Ferris Bueller]

[quote=brokerman]I am going to Janney Next

Month. 150k up front vs. 60 with some good back end incentives. F off

Bagby.[/quote]

That’s the spirit, you’re really going to teach Bagby a lesson!

GOD I hope you’re in my branch, but I don’t think so. Either way the other

brokers in your branch are going to have some fun.

…My clients would see right through cockroaches like you…

I’m sorry you guys don’t have cofidence that your clients would follow if you

decided another firm made sense for you. Funny how you take out your

insecurities on others.

You're going to win some and you're going to lose some. Get ready for that fact. There are going to be people who have seen nothing but black since they started working with you who will not follow you and there are people who have seen nothing but red who will follow.

This could be that the people of blackness assume that things have been ok at their current firm and their string of success is because they were smart and you were lucky to have had them as clients. Clients tend to take credit for what goes right and blame you for what goes wrong.

I was fortunate in that I had a small percentage of my book given to qualified people who were willing to try to put me out of business. Most of the people I worked with were guys that I had worked with for over 15 years. The ones who worked for less time with me (and the ones who went after my book the hardest) were generally losers who had come over from Merrill after being less than mediocre there, and I was able to retain against them.

Mr Whitehair in the corner took out many of the stops, but he overplayed many clients "Don't worry, Mrs. Client, all YOUR money is here, but Whom no longer works for this firm!" and, well it's a Holiday weekend so... He didn't give it his usual 1,000 watt smile treatment.

So in no small part, your degree of success will have a correlation to the efforts of the others in the branch.

Recently, 3 good sized producers left the firm (went to Wachovia) and their accounts were split out across several offices for calling (For some odd reason they left on a Thursday morning! What is it with some people that they invite disaster to themselves?) Reason I bring this up is that, hungry brokers in other offices have nothing to lose and everything to gain by pounding your book and offering all sorts of enticements (the sorts that clients like, including no fees and preferential commission rates and lowered margin rates) and blandishments to just give it a year and "see how the other place works out (after all, many people who switch firm don't stay at the firm they switch to*), if you still want to go then, I'll do everything in my power to help you."

* Technically true in that many people who have jumped in the past, jump again at some time in the future. 2 of this threesome where employed elsewhere before they came to SB.

It's a good time to leave, but also a bad time to leave too soon. You can tell your clients that you don't like the way the new management was shaping up... But, Wachovia has a good name, High Cust Satisfaction Nums, good advertising, an aggressive up'n'commer. Saying that you don't like them before you even find out what they're like is going to be a weak argument, one that clients will be hesitant of accepting.

ESPECIALLY, if you're taking a check to go to another Retail branch.

If you think the "It makes sense for me" line is going to work for clients, you're in for a rude awakening. "It makes sense for YOU!" might be a better attitude.

[quote=Indyone]...My clients would see right through cockroaches like you...[/quote]

Youre clients are no different than any others.  I'm a top producer in my branch, I have a huge office with plaques all over the wall.  They will only see my success and my charm, I'd HAMMER you and at the end of the day you'll be sorry.

I disagree with you whom it may. My client retention rate depends on the

relationship I have with my clients not the efforts of other brokers in the

branch.



I feel pretty confident.

[quote=Indyone]…My clients would see right through cockroaches like you…

Youre clients are no different than any others.  I'm a top producer in my branch, I have a huge office with plaques all over the wall.  They will only see my success and my charm, I'd HAMMER you and at the end of the day you'll be sorry.[/quote]

You're a pathetic leech...building "your" book on the backs of failed brokers.  My clients don't give a sh*t about your big office or your tiny pecker...all they see is a pretentious asshole in a suit lying to them about a trusted advisor.  They'd be well-prepared for your pathetic assault and at the end of the day, the only thing you're hammering is yourself in the shower.

Brokerman, man.

Plenty of guys felt pretty confident as they went over Niagra Falls too.

I've been through it Brokerman and I am a guy who was doing much bigger nums than the ones you are showing. I am a guy who had many years under my belt and I am a guy who has very good relationships with my clients.

I'm just telling you that confidence alone won't cut it. You had better be ready to anwer some very pointed questions from clients and be ready for people who smiled in your face to be backstabbers.

As always, I wish the broker the best. In my world it is your book of business and that's the way it should be seen.

The thing you have going for you is that management is stoopid! What they'll do is give the biggest clients to the biggest brokers. Your biggest clients are the most likely to follow because they have put more of their trust in you. But, still in all, don't think you're going to take your whole entire book, and do the math for yourself from a worst, medium, medium good and best case scenario and be honest with yourself. Then try to decide if you will be as well off after three years given the number of "c-listers that you don't care about anyway" that won't come and then add in a couple of your big "absolutely positively" clients to the don't come list ('cause some of them might just not!).

"You're a pathetic leech...building "your" book on the backs of failed brokers."

Uh speak for yourself dude!

I left as a plenty successful broker and still am one!

Thank you very much! 

A little Sunday night sparring that was not directed at you, Whomit.  Re-read the post.  I’m not even saying Reggin isn’t a successful broker…I’m just not impressed with his methods of adding to “his” book.  You & I have disagreed before, but for the most part, what you said above makes sense and argues for a strong battle plan and excellent preparation done under the deepest of cover.  Leaving and retaining clients is a game you must win and should be treated as such.

[quote=Indyone]A little Sunday night sparring that was not directed at you, Whomit.  Re-read the post.  I'm not even saying Reggin isn't a successful broker...I'm just not impressed with his methods of adding to "his" book.  You & I have disagreed before, but for the most part, what you said above makes sense and argues for a strong battle plan and excellent preparation done under the deepest of cover.  Leaving and retaining clients is a game you must win and should be treated as such.[/quote]

Oh so you're Mr. Ethical and have NEVER called the clients of a broker that has just deserted the firm?  BM goes around and hands everyone a client list of the departed and everyone calls.  That's how the game is played, except for Mr. Ethical over here.  WHatEvA liar.

[quote=Indyone]A little Sunday night sparring that was not directed at you, Whomit.  Re-read the post.  I’m not even saying Reggin isn’t a successful broker…I’m just not impressed with his methods of adding to “his” book.  You & I have disagreed before, but for the most part, what you said above makes sense and argues for a strong battle plan and excellent preparation done under the deepest of cover.  Leaving and retaining clients is a game you must win and should be treated as such.

Oh so you're Mr. Ethical and have NEVER called the clients of a broker that has just deserted the firm?  BM goes around and hands everyone a client list of the departed and everyone calls.  That's how the game is played, except for Mr. Ethical over here.  WHatEvA liar.[/quote]

Hey, believe what you want, but no, I didn't.  That kind of shark tank crap is just one of the reasons I went independent...it's not my style.  I find it a lot more productive and satisfying to convert client referrals and prospects than to try and convert someone else's clients.  From what I've heard through the grapevine, most of the guys I left behind at my former employer feel the same way.

Well that type of shark tank crap is how the rest of this industry works and it's good you took your thin skin to the independent side.

The BM's job is to retain the assets of departing brokers, and that's when he turns to the rest of his branch.  It's gravy to us, same as when he distributes walk-in or phone-in accounts.  I don't build my book that way, but when something comes in unexectedly, I take advantage of it.  Blame the departing broker for underestimating the relationship he has with his clients.  If I left, I would expect the rest of my office to be doing the same thing.

So get off your high horse.

[quote=Reggin]I'm a top producer in my branch, I have a huge office with plaques all over the wall.  They will only see my success and my charm, I'd HAMMER you and at the end of the day you'll be sorry.[/quote]

I'll get off my horse when you dismount yours...

Really, the jousting has been entertaining, but you and I have work to do later this morning...