Merrill Lynch posts losses...OUCH!
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Careful what you wish for. When all of the major houses mrege with each other or banks to form 2 or 3 mega-brokerages, the brokers will be working for $7/hour. So I’m not getting too elated over the possible demise of Merrill as an independent entity just yet.
Huh???? Industry trends point to being paid for advice & clients are willing to pay for that. At least my clients do!
[quote=mikebutler222][quote=sbbroker]Dear Merrill Brokers,
Welcome to Wachovia Securities. Stan said you'd be happier here. Now start calling those maturing cd clients![/quote] Can you believe that? Stan contacting Wachovia, of all people Why not JPM?), and without mentioning it to the board? Could he still have his job next week?[/quote] Remember, don't believe all you read in the NTSlime!! Call was never made!!Yeah, but with only 2 or three mega brokers left, we wont be able to get those big fat checks anymore, that they give us to whore ourselves around[quote=Philo Kvetch] Careful what you wish for. When all of the major houses mrege with each other or banks to form 2 or 3 mega-brokerages, the brokers will be working for $7/hour. So I’m not getting too elated over the possible demise of Merrill as an independent entity just yet.[/quote]
Huh??? Industry trends point to being paid for advice & clients are willing to pay for that. At least my clients do!
[quote=Ashland] [quote=Philo Kvetch] Careful what you wish for. When all of the major houses mrege with each other or banks to form 2 or 3 mega-brokerages, the brokers will be working for $7/hour. So I’m not getting too elated over the possible demise of Merrill as an independent entity just yet.[/quote] Huh??? Industry trends point to being paid for advice & clients are willing to pay for that. At least my clients do!
Yeah, but with only 2 or three mega brokers left, we wont be able to get those big fat checks anymore, that they give us to whore ourselves around [/quote]
I think I could explain that to my clients. You know, the situation at this firm has changed - since competition in the industry has decreased they’re trying to squeeze the good reps like they’ve squeezed the good doctors. I fear that the way they’re forcing me to do business may end up decreasing the level of service I can provide to you. Many of my friends - the better advisors - are leaving to go independent because then we can run our own show, and continue the same level, if not increase the level of service we provide. We can only take so many clients with us though. I value our relationship, and I’d like you to be one of them.
Sounds like a winner to me.
I guess we hadn’t realized the full extent of your powers.
Why any mega-brokerage wouldn’t DARE to interfere with the plans of a dynamic powerhouse such as yourself.
[quote=Philo Kvetch] I guess we hadn’t realized the full extent of your powers.
Why any mega-brokerage wouldn’t DARE to interfere with the plans of a dynamic powerhouse such as yourself.[/quote]
Or a mere bank brokerage for that matter!