Thinking about going from Wells to Stifel Nicolaus, but

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Jan 16, 2011 11:05 am

It appears Stifel offers very little if anything for transition.  Wells has me tied up with handcuffs for another 7 years on a EFL and I will lose my sizeable deferred comp if I switch.  I am in my mid fifties.  What are my options.  Would it be worth it to cut and run, pay the tab, give up the deferred comp and start my career over at Stifel?  I feel like Wells owns me for the rest of my career.  Help!

Jan 16, 2011 3:52 pm

Why would you want to leave to a place with no transition package?  If your that miserable I say screw it, go where you want to go try and settle or just pay back what you owe.   Why do you want to leave Wells?

Jan 18, 2011 11:33 pm

Don't know about now, but when we left WFA last year for Stifel, we got a package.  It didn't make us rich, but it was enough to pay back the money we owed to WFA and have a few bucks to pay the bills during transition.  I'd encourage you to talk to them and find out.  PM me if you want more info. 

It isn't perfect, but it is what we were looking for.  They came through on every promise.  Not a single regret.  87% of the client base moved.  We were strarting to do some pruning before the merger happened, and this allowed us to do it in a humane way, so now we only have less than half of the households but most of the assets.  Best decision since joining AGE.