Leaving AGE. Quest. about Train. Agreemen

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Jul 17, 2007 6:30 pm

If I have been with AGE for over 5 years and then leave can AG Edwards

come after me in any way ? Did I sign a non compete ? (I don’t think I did)

but recruiting firm is sure I did.

I know I was responsible for training costs if I left within 5 years, but I don’t

think I could be on the hook for anything as long as I stay within protocal.

Am I right ??

Jul 17, 2007 7:27 pm

After 5 yrs you are free and clear…I hope you are in my office lol

Jul 17, 2007 8:21 pm

you are a loser.

Jul 17, 2007 8:53 pm

[quote=brokerman]you are a loser.[/quote]
Wow that makes me feel bad…lol
Good luck so which firms hadcuffs are you putting on?
I just dont see the sense in jumping now, I will wait it out take my $$ an see how things shake out…most likely I will end up with lots of new clients that wont follow their FC’s to  MS or Merrill lol

Jul 17, 2007 9:33 pm

great point, my clients probably won’t follow me. That is why I am moving

so you can have them.

Jul 17, 2007 9:35 pm

[quote=brokerman]great point, my clients probably won’t follow me. That is why I am moving

so you can have them.[/quote]
So someone is paying you to not bring a book…interesting.
Sorry you have built such a poor book that you cant or wont take it.
BTW you never answered my question

Jul 17, 2007 9:54 pm

nestegg - I agree with you, it's stupid to move now and we're going to benefit with added clients from guys that move prematurely.  That said, brokerman seems hell bent on doing this.  Have at it dude.

"Mr. & Mrs. client - Your broker is no longer here.  Wachovia offered him a nice check, but he felt it wasn't enough.  So he's going to be calling you, if he hasn't already, asking you to move to his new firm.  Just remember that his new firm offered him double to move.  How does that make you feel?"

Jul 17, 2007 10:22 pm

Jul 17, 2007 10:26 pm

hey let him go…I’m sure he’s at the top of his class rankings…maybe he’s going to a bank to “better serve his client base”…or sell annuities to 80 year old ladies whose CD’s come due…lol

Jul 18, 2007 7:08 am

Brokerman, you did sign a non compete but the agreement is only in effect for five years during your training period.

If any of you are in my office, you are more than welcome to the 20%aum that I will voluntarily leave behind. Good luck and have fun calling on those "prime" clients. As I switch my practice to an independent business model you can be assured that only the bottom of the barrel loser clients will follow me & I will struggle to get over the first 300 "A" households that I have had 10yr close relationships with at the old AGE...oh well life is tough when I try to explain to those clients why I walked away from a 80% retention (bribe) offer to me & my family to go somewhere else where I won't get any big front money nor will I be able to serve their best interest. All of you have a point, that's not a very compelling story. 

It's 7am and I need to grab another cup of joe & get back to reviewing those completed ACAT packages, moving a book is allot work. See ya around.

Jul 18, 2007 7:37 am

Just curious how many of the FA's "hanging on" at AGE have ever been through an ACQUISITION of this magnitude and if they might have been some of the brokers who were on here bitching and whining about a simple beta conversion a couple years back?  Suspect that will seem like a cakewalk before all this transition settles.

Jul 18, 2007 10:59 am

Jul 18, 2007 12:16 pm

If you were to move, when is the best time?  I don't see any 3 day weekends coming for a while.  Do it on a Friday?

Jul 18, 2007 12:54 pm


Jul 18, 2007 2:23 pm

[quote=joedabrkr] [quote=Ferris Bueller]

If you were to move, when is the best time?  I don't see any 3 day weekends coming for a while.  Do it on a Friday?


Labor Day is not that far away....

Then there's Thanksgiving if you wanted to be a glutton for punishment.

Let's just say it's T-minus 4 weeks and counting or less. Mentally I'm already checked out of day to day production.  Funny thing is although there is some feelings of anxiety & fear to be honest...Right now I'm just ready to launch. It's as though I have the biggest swinging schlong on the planet because I'm feeling so confident & cocky about my ability to get the clients that I have targeted & also I feel so good about the move.  Not sure if anyone else can relate to the feeling, but it's pretty intense.

Jul 18, 2007 2:30 pm

While I feel that you are doing this prematurely, I wish you the best of luck.

Jul 18, 2007 2:30 pm

Jul 18, 2007 2:34 pm

Jul 18, 2007 2:39 pm

Fortunately it's a fee month so my tracks were covered by fee's hitting this month. All service issues have been resolved as of yesterday & my poker face is in place.  It's a hard thing to do to guys that you've worked with for years...but at the same time, the minute I resign they will attack my client base like sharks with blood in the water, I know this for a fact because I've done the same in the past. This is a cutthroat business.

Thanks for the tips.

Jul 18, 2007 2:41 pm

[quote=Ferris Bueller]While I feel that you are doing this prematurely, I wish you the best of luck.[/quote]

I respect your position & appreciate your views.

Thank you.