 Less than half of the advisers who leave wirehouses will move to another wirehouse."Danny Sarch. |
Vonnegut: A Bonus, Then a 'Bagel Paycheck'
Norb Vonnegut | WSJ Online, December 2014
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Summary: You’re pinching yourself. Hoping it’s not a dream. A branch manager from the evil empire just offered you $1.4 million to join his wirehouse. The upfront money is deceptive, warns Mr. Spitzer. As principal and interest are forgiven on an EFL, they generate ordinary income. And the ensuing taxes can reduce your take-home pay to zero.
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