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Steifel-UBS. RUT ROW

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Aug 6, 2009 11:15 pm

[quote=AGEMAN][quote=thunderkwb]

 [/quote]   I was being sarchastic...laugh a little..it makes life more fun...the way you wrote your first post sounded exactly like what I posted though which I got a chuckle out of.   As far as me...I have a good balance between Fee Based and Commission Based accounts...never done a Bonus Annuity in my life, and my clients don't pay any account fees regardless of acct size...I don't work for a bloated firm that needed a bailout and needs to nickel and dime their clients to death...so acct fees are a non issue to me or my clients. Oh yeah and we had our 13th straight year of record profits last year...and somehopw did that with no nickel and dime acct fees...amazing isn't it...oh yeah and no bailout money either.   I was in your boat before, so I know how it is to try to work around the fees and find wqays to waive them etc...much nicer when you don't have to worry about silly things like that, and can focus on your clients![/quote]

Point taken! My approach is these are my clients, regardless of your firm.   If you do a good job for your clients they will follow you anywhere if your move is for the right reasons.  Whether it us wirehouse guys  poking fun of the small Indy guy or  the indy criticizing the "evil" wirehouse that had a bailout, it boils down to how good of an advisor you are and your clients trust. Another words the sign on the door means nothing!
[/quote] That would be nice to not have to worry about the pesky fees.  It seems as though the firms would realize the wasted time involved in talking to clients about fees, justifying them,  planning on ways to avoid them.  The fees probably cost the firms money instead of making them money, but they are shortsighted and can't figure that one out.   By the way what firm is it that has no acct fees??[/quote]

I am former AGE...now at Stifel Nicolaus....no acct fees on a standard acct...includes free checking, monthly stmts with cost basis, MasterCard Debit card, choice of FDIC Bank Deposit OR Several Money Market Funds. You can upgrade to an acct for $60.00 that gives you some other bells and whistles, a MC Debit Card with reward points etc...but that still is a fraction of the cost of most firms.

Aug 20, 2009 3:51 am

anyone hear the rumor that steifel-ubs deal falling apart?  Too many little offices that are not profitable and good producers are leaving before the the deal is done.

Aug 20, 2009 8:14 pm

It’s happened but I think it’s sort of old news. A few offices, Kennewick WA for example, did implode, close and get dropped from the deal, however most have not from what I can tell. 

Aug 21, 2009 2:54 am

Rumor is that the first waive of office conversions happened over last weekend and went far better than expectated.  From a very credible source in upper mgt yesterday.

Aug 22, 2009 12:57 am

First wave out of three did close last weekend. I understand that it went well also. It is all on schedule.

Aug 23, 2009 12:42 am

Yes first waive is complete…welcome guys and gals!

Aug 23, 2009 1:12 pm

nest   why is Joe B so bearish!

Aug 23, 2009 4:31 pm
A b:

nest   why is Joe B so bearish!

has gone from Perma-bull to Perma-bear.