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Wait a minute, you said they only have to answer to themselves. Now you're changing that to their clients. Which is it??

. . . and I'm pretty sure they answer to their board of directors, stockholders and the Feds. Please explain.
If these executives answer to all of the above, then evidently no one is watching the store. The thieves are plenty.
 
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First off, you said they answer only to themselves. Then you changed it to their clients. So now you've done a 180 and say they answer to potentially many people.

Do they not also have to answer to shareholders, their Board, Federal regulators?? I think they probably do.

You see Sluggo, the higher up you go the more people you answer to. Not the other way around.
They don't answer to shareholders, could care less about shareholders. ( I m referring to SVP like Creekside). My point is they don't answer to management, management has nothing over their head, they have something over management head, income. Manage is overhead, and on the wrong side of the balance sheet. They don't answer to federal regulators assuming they don't do anything illegal
Actually in this case you answer to less people within the firm
 
I recall seeing the OP make this tye of post before; I can't remember a time I've later thought, "wow, that guy really had some worthwhile info!"

I've also known Sr VPs at large firms (like PwC), and not a single one of them would ever even consider making a "my paycheck is bigger than yours" post on a football message board. Nor would they make such a ridiculous post in the first place. Once they reach that point in their careers, they have no need for such self aggrandizement. Despite some trying to justify the original post, I see no other reason to ever post something like this.
 
How am I wrong? The business is effectively yours. Who can do what you want. Can they fire you? Sure but all yo do is take your clients with you as walk across the street and never skip a beat
Since you can get fired, then you have to answer to someone. And if you take your clients somewhere else, you have someone to answer to there as well.
 
They don't answer to shareholders, could care less about shareholders. My point is they don't answer to management, management has nothing over their head, they have something over management head, income. Manage is overhead, and on the wrong side of the balance sheet. They don't answer to federal regulators assuming they don't do anything illegal

Wrong in so many ways. Where are you getting your information? Do you actually know someone in one of these positions? If so, what is their position and with what company? I think you are getting this all from the movies.

BTW, you don't have to be doing anything illegal to have to answer to regulators. Let them try telling a Federal regulator that they don't have to answer to them and let me know how that goes. Lol

You're clueless on this matter sluggo.
 
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Since you can get fired, then you have to answer to someone. And if you take your clients somewhere else, you have someone to answer to there as well.
But the reality is you'll only get fired if you do something illegal. It's really his business,his clients he knows it, management knows it too
 
Let them try telling a Federal regulator that they don't have to answer to them and let me know how that goes. Lol

You're clueless on this matter sluggo.

Quiz: how many banking CEO's went to jail for their role in that banking crisis 6-7 years ago?

I think you all know the answer.

A few token nobodies went, but none of the bigwigs. So yeah, I don't think they answer to any Federal regulators.
 
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Well if he works for say Morgan Stanley or Merrill Lynch and he is a Sr Vp that means he produces at least $1,000,000 in commissions at a conservative 40% payout hes at a min of $400,000 more likely $500,000 at that level you work for your clients and the rest of the guys you mentioned work for you. They are on the wrong side of the balance sheet, they produce nothing. So you want to come in at 10 and leave at 2 ? No problem just keep churning those numbers. You want to take a month off.? Sure how about 2? Meetings? With you mr CEO? Fly me to NY on your dime otherwise I m staying here. Don't like it, I'll take my $1 mil plus production and move across the street. Oh and by the way they'll write me a check for $2 mil just to make the walk. Want to take off at noon and coach HS football? Fine if your clients are fine

So wrong here
A) there are thousands of SVPs on the street that work in ops, tech, etc that aren't producing anything (and making about 200k)

B) 'Producing' 1M in sales and trading is small potatoes and no one, unless you're a real idiot, blows off a CEO

C) Many clients can't just follow around their favorite sales guy to his new firm without significant onboarding issues

D) As you find out early on, 'don't be a dick, the Street is a small place' is rule #1

Other than that you nailed it
 
Wrong in so many ways. Where are you getting your information? Do you actually someone in one of these positions? If so, what is their position and with what company. I think you are getting this all from the movies.

BTW, you don't have to be doing anything illegal to have to answer to regulators. Let them try telling a Federal regulator that they don't have to answer to them and let me know how that goes. Lol

You're clueless on this matter sluggo.

And this surprises you? We are talking about the person who doesn't understand the difference between the verb and noun version of the word "seasoning". Be ready for him to twist your words and drift further and further off topic.
 
But the reality is you'll only get fired if you do something illegal. It's really his business,his clients he knows it, management knows it too
Only if he owns his own business or is an independent contractor. If he works for the company, I'm sure he has a contract that outlines what he can and can't do in the event he leaves the firm.
 
Wrong in so many ways. Where are you getting your information? Do you actually someone in one of these positions? If so, what is their position and with what company. I think you are getting this all from the movies.

BTW, you don't have to be doing anything illegal to have to answer to regulators. Let them try telling a Federal regulator that they don't have to answer to them and let me know how that goes. Lol

You're clueless on this matter sluggo.
Yes I know many people in this situation. They come and go as they please. Come in at 10 leave at 2, take Friday off They take as much vacation as they want. If a manager wants to speak to them, management makes an appointment at the SVP convience
Seeing how the industry is a SRO, the Feds are only involved if you do something illegal, otherwise there isn't much to talk about
From your response you are the clueless one
 
Only if he owns his own business or is an independent contractor. If he works for the company, I'm sure he has a contract that outlines what he can and can't do in the event he leaves the firm.
Actually he probably doesn't have a contract, although he may. But he is allowed to take names addresses phone numbers etc. industry standard
 
\

CJF on plane - CONFIRMED!!

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Is that Trace behind him?
 
Yes I know many people in this situation. They come and go as they please. Come in at 10 leave at 2, take Friday off They take as much vacation as they want. If a manager wants to speak to them, management makes an appointment at the SVP convience
Seeing how the industry is a SRO, the Feds are only involved if you do something illegal, otherwise there isn't much to talk about
From your response you are the clueless one

I asked you to name one individual. Since you know "many" it shouldn't be that hard to give me one person's title, company, and how you know them. Unless you are making all this crap up as others, including myself, feel you are.

Would also like an example, with specifics, on when one of the "many" told a Federal regulator to pound sand. I want to be able to look into that instance.

Otherwise I'm calling BS.
 
So wrong here
A) there are thousands of SVPs on the street that work in ops, tech, etc that aren't producing anything (and making about 200k)

B) 'Producing' 1M in sales and trading is small potatoes and no one, unless you're a real idiot, blows off a CEO

C) Many clients can't just follow around their favorite sales guy to his new firm without significant onboarding issues

D) As you find out early on, 'don't be a dick, the Street is a small place' is rule #1

Other than that you nailed it
A) I'll agree with that, but I doubt those guys can get the time off to coach HS football
B) wrong producing $1,000,000 in commissions is a big deal, and the CEO knows that, except of course arogrant pricks like James ,don't call me jimmy , Gorman
C) not true industry average is north of 90%
D) most guys don't work on Wall Street, they work on Main Street. Lots of seats need filled
Other than that you are as clueless about this as panda bear is about seasoning steaks!
 
Trying to figure out what I dislike more:
Posts that state "I know something you don't know, but I can't tell."
or
Post that states something as fact that turns out to be pure BS.
We get a few of the first and a whole lot of the second.
 
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I think I understand the frustration some of you are expressing, though I do feel that some of you are going a little far with the condemnation of the OP.

Over the years, I've had a lot of inside info on the FB team. 95% of the time I don't say anything. The other 5% of the time I do drop hints, or indicate that something is about to drop.

With all due respect, Tom, and it is your board to do what you like (including banning me), but someone posting about having top secret inside info that they can't divulge is bush league. Absolutely no good can come from it. This is especially true if it is negative.
 
I asked you to name one individual. Since you know "many" it shouldn't be that hard to give me one person's title, company, and how you know them. Unless you are making all this crap up as others, including myself, feel you are.

Would also like an example, with specifics, on when one of the "many" told a Federal regulator to pound sand. I want to be able to look into that instance.

Otherwise I'm calling BS.
Go do a search in Morgan Stanley retail stock broker. anybody in any town with a title of Sr VP got that title by bringing in over $1,000,000 in commissions from retail investors
Hell look at j Jeffrey Sartain Look at his title. , look at his office location. Add 2+2 He comes into his office at most 1 day a week, produces well over a $1,000,000 in commissions
You can run a broker check if you want just google that under the finra site
I m not sure about your next sentence. The only time the Feds come around is if you do something illegal. You're right I don't know anybody in that catagory. It never comes to mind.
 
Wow! This thread turned into a complete disaster! :rolleyes:

So does anyone here enjoy Penn State Athletics? We should talk about that sometime. :)
 
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