Michael King, President, Michael King Associates<br><br>
If the retention package is poor, I think a lot of them are going to look. I think a lot of them are looking already, but more seriously look.
Its going to be a bigger firm than it was. It will be almost as big as UBS (in number of advisors), which is fairly substantial. Thats going to make a difference, and it makes them more of a player. I still dont know long term whether that firm will survive long term. None of us can judge that. I think they have a better chance of survival now because of the combined firms.
Culturally, I dont think its a bad fit. But Moodys put Raymond James on negative watch. That says something right there.
Bill Willis, President & CEO, Willis Consulting<br><br>
"Once someone is offered money to stay, it kind of puts them up for bids, and some people are going to say, Gee, thats great. Im going to just stay. Others are going to say, Well, if I can that to stay, I wonder what I can get to leave. Theres some of that."
"Some of the top producers, who are in major markets, might find a match at some of the boutique firms, just because the size may appeal if their business is a fit. Others in more medium to smaller markets, are really going to have fewer choices. If youre in a small town, and if you eliminate the wirehouses, sometimes theres not much more left."
"I do believe that culturally I think they have a chance of making this work ... Even though Raymond James is national, it maintains a regional flavor, and has a very good reputation for being in the brokerage corner and have a lot of good common sense. I think theres a pretty good match."
Steve Rosen, Co-Founder, Rainmaker Associates<br><br>
"Certainly the retention package is going to be key. Im sure most of the advisors, some of them I know, are all getting their back up plan, getting their options. The whole process for them was grueling. This one is going to buy them, that one is going to buy them. Nothing happened."
"I think its going to play out like every other one does. Theres going to be some people, if they get a little bit of money, theyre going to stay ... How that varies I think will directly depend on how much money they are going to give the brokers.