Legacy AGE thoughts
118 RepliesJump to last post
No, the name changing to Wells Fargo in May - sorry. That was confusing…sorry. The “fact” that the brokers cannot officially use the name ‘Wells Fargo Advisors’ until May. I apologize.
Yes, they do…
but from what I hear, they did not do anything wrong. I've heard Stifel is a good company, but I've heard a lot of other companies are, too... I have no idea, yet, what we are going to do down here in Fl.[quote=skbroker] wheatie
It is so clear when you $400k FAs post like the “big man”…whenever questioned on your tiny little thinking (ie. whining about a $20 fee rather than just taking care of it), all you can do is resort to calling people names. Very predictable: you must share space w/Bpatient and hyman roth.
Since when do attorneys care if you did anything wrong? Most are on retainer based on regions. All they want is their hourly fees.
If you are leaving, just be sure that your departing firm can not claim the “Raiding” foul. As long as less then 25% of your branch production leaves to the same firm then you should be OK based on my contacts.
[quote=soontobegone]Yes, they do…
but from what I hear, they did not do anything wrong. I've heard Stifel is a good company, but I've heard a lot of other companies are, too...Stevens? And some other smaller companies. I have no idea, yet, what we are going to do down here in Fl.[/quote]What part of Fla?
you must be poboy cousin… do you think that i wrote that because I was pissed about $20? if you did you are a f***in moron.
[quote=soontobegone]Yes, they do…
but from what I hear, they did not do anything wrong. I've heard Stifel is a good company, but I've heard a lot of other companies are, too...Stevens? And some other smaller companies. I have no idea, yet, what we are going to do down here in Fl.[/quote] If I lived in FL I would be at Ray Jay and why not Soon? This might be the easiest decision ever you make. i am interested in your response.[quote=Wheat-ie] [quote=skbroker] wheatie
It is so clear when you $400k FAs post like the “big man”…whenever questioned on your tiny little thinking (ie. whining about a $20 fee rather than just taking care of it), all you can do is resort to calling people names. Very predictable: you must share space w/Bpatient and hyman roth.
[/quote]
You called?
Wachovia attorneys are pretty busy these days, and not just with raiding issues. I think it would be interesting to see a firm that has initiated so many broker unfriendly practices, made promises they didn't keep, and have had a constant slew of bad news to argue the case for "raiding". If anything, brokers are taking there own initiative to find new homes, and who can blame them. WS is definitely a damaged brand, and in our industry, that means a lot to your ability to generate business. Brokers need to put their clients first, not their firm.Wachovia has alot more clout, meaning attorneys. Be very careful.
I’d like to see brokers file suit against their companies for making it difficult to make a living based upon the actions of the firm.
What is a TRO?
Oh "Be Patient"........Temporary Restraining Order. You are too funny
I’d like to see brokers file suit against their companies for making it difficult to make a living based upon the actions of the firm.
We have discussed this. What about a class action lawsuit??? Oh what fun it would be to pull off.....
[quote=Poboy]I’m a Legacy AGE guy that thought it was time to speak out about what I have been seeing with some of my colleagues and what has been written on this forum in regards to the AGE to Wach Merger. We certainly have a lot to be frustrated with over the last year. Not least of all this crappy market we have been going through.
My underlying thought is this: Change happens and it is not easy to make changes in the way we do business i.e. Smart Station, contact management/ no brokervision. But weren't we compensated to sit in out chairs and deal with some BS? Didn't we all have realistic expectations about what a conversion would mean? Did we think smart station actually had Broker Vision and they forgot to tell us about it when the conversion took place? Quit whining and do your damn job! I guess I wanted to put another POV out there from a Legacy AGE. I think Smart Station is better than Client One. I never used BV except for the notes. I used Outlook for appts and meetings. Most of my AGE couterpartsthat I knew about did the same. So why is everyone complaining about the contact management? You can still do thes functions now. Hell, we now even print out an envelope with the clients name on it! Quit your whining! Some of the tools on SS are way ahead of what we had at AGE. The Portfolio Insight tool presents a much better report than Ontrack. Adding NH accounts and making proposals are much more impressive then what we had. The fee based platform and using custom choice models are much more user friendly. I have done a couple envision reports and my clients love them. It wasn't easy to learn how to do them but I have been working every night to work to learn the system. Envision is light years ahead of OTPP. The bad part, is you need to learn how to use them, but wasn't this why we got paid to stay????? I like how my clients with 250k don't have to pay an IRA fee or any acct fees. I like that I have a more complete choice of mutual funds and am closer to a true open architecture than AGE. I like that after I pay my fixed cost each month I keep 50% of any business I do. I like the ability of breaking down my business on FA Analysis. Nothing like this at AGE. We can finaly analyze our business. I like the increase in SMA's and the abilty to discount my fee based business without getting scalped. Hell, I even think the format of the new statement is better! I like I like how my clients can make deposits to there accounts at any bank or ATM. I like the improvement in functionality of the remote access. Call me nuts but the service request makes life easier once you figure it out. Service at the home office is not as good as it use to be. But I also thought there was a general decline even before wach came into the picture. What I can tell is that most of the home office people are trying hard. I just had an occasion where the person I talked to did not have an answer for my question. It was the end of the day and I was not expecting a callback. First thing the next morning someone from the department called me back and walked me through the process on Smart Station. I have every confidence service will get better. If you were Legacy AGE and left Wach, please acccept my Best Wishes. It is rather pathetic to be spending so much time "selling" your decision to everyone else. I also did my due dilligence when we were first bought. Danny L. has made some mistakes and certainly screwed the pooch in regards to retention. But as a Legacy AGE, I never did think we were particulary entitled to anything. We had just been paid to sit in our seats and although it was sh*tty to go through Wachovia to Wells for our clients sake, moving to Wells will not create a disturbance to our business like learning smart station and having our clients get new checks from a now dead bank. I must admit that sucked! We have had one broker leave our office about 3 months ago. He has taken about 40% of his book and hardly any of his clients are leaving anymore. We have not tried hard to retain his clients. I would imagine he is saying how awful Wach/Wells is to all his old clients trying to get them to come with him. Apparently they don't give as big a sh*t as we may think. I think he overestimated his relationships. He actually sent an email out to his clients saying that Wachovia Securities brokers were "slapped in the face" when we didnt get retention and that was one of the reasons he left was beacuse he "knew" we would not get retention. None of his clients seemed to be concerened about us not getting a retention. In sumamary. Change sucks. Get on with it or get going. Please stop your whining like little Bit&%es My apologies to any Legacy Wach. Not all us AGE are asses. [/quote] Hmmmm auuuuu hmmmmm ahhhhhhhhh Don't know any other way to say it; You're a dishonest moron at BEST.With clients who are looking for a valid reason to go elsewhere?Wachovia has alot more clout, meaning attorneys. Be very careful.
PLEASE PM ME on thisI heard a long time AGE manager left today to start up a new Stifel office in the Carolinas. From my experience, AGE guys leaving WS should have little pushback from clients regarding moving. The few clients I wanted to move that didn’t moved to different firms and didn’t stick at whatever Wachovia Securities is called these days.