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Sunday, May 22, 2016

WSOMN CHAT UPDATE, 22 MAY

WSOMN

DPChamp: ~~Notes from AdminBill late 5/21/16~~ about 11:00pm CDT

GOOD EVENING WSOMN - UNLIKE LAST WEEKEND AND THE WEEKEND BEFORE THIS WEEKEND HAS BEEN EXTREMELY ACTIVE WITH EVERY THING POINTING TO THE END GAME BEFORE MONTHS END WITH THE LIKELIHOOD OF SOONER.

I SUGGEST THAT YOU GET PREPARED AS IF THE RV/GCR WAS IN THE NEXT TEN MINUTES SO YOU ARE THAT NOT SCRAMBLING TO GATHER YOUR PROOF OF IDENTITY, ETC., ON THE FLY.

YOUR WSOMN TEAM HAS BEEN DILIGENT IN THEIR EFFORTS TO BRING YOU INFORMATION FROM THOSE THAT KNOW OR HAVE BEEN INVOLVED WITH THE PROCESS.

WE FEEL CONFIDENT THAT THE DAY WILL COME LIKE A THIEF IN THE NIGHT.


Dyoungdc:; The way I see it (and its just a feeling as I have no intel) today is your day for numbers and to make appointments. It may be this afternoon or tonight. This is totally my opinion and I have absolutely NO proof so just just im feeling today

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Snake:  to whom it may concern, it is Sat nite I am switching between basketball and hockey and reading all the posts re photo id's and asking for high exchange rates, am almost afraid to share some basic info re WM's and banks, do not wish to start a fight but can share some info about dealing with them that could be a benefit to those willing to consider this concept.

Forty years in the investment banking business arranging loans for syndicate private placements as well as personal financing for approx 700 Professional Associations or Private Corporations

Realize your first contact at the bank will be to record the specific currency presented, the immediate confirmation of on site legit currency or the possibility of shipping it off to a central clearing house for authentication which I strongly recommend against, find a bank that can confirm on site do not let the currency out of your possession

Once you have your deposit slip in hand certifying the dollar amount(s) recorded in your accounts You will then most likely be given a name and phone number of a WM, my experience is you are presented a business card of this individual with instructions that you should call or expect a call shortly to establish a convenient time for a person to person interview

At this meeting is where you are going to negotiate your rates and the banks will be allocating you to the particular location based upon the level of value you represent to the bank

The bank either has the machine to count and verify your currency or a book showing the identifying markers on the bills, the certification will be a listing of the currency presented x number of iqd, x number of vnn, x number of zim etc, with most likely the international rate showing as the amount of deposit.

I doubt the exchanger will have the authority to provide all the benefits the bank offers as well as a negotiable rate in a 5 to 15 minute exchange

Remember this above all else I say, bankers are some of the most greedy individuals on the planet, the more of your funds they believe they will control the greater position you will be in to obtain a more favorable rate

If the initial meeting is longer then apply what I am telling you in your own words to negotiate the most favorable rate but please remember arriving at a rate normally does not include a signed contract so within days, weeks, or months the bank or brokerage house can be changed.

You should conduct an interview of the WM you are sitting before as well as the interview he or she will be conducting of you to determine how sophisticated you are in the investment arena
 
Questions to be asked include; how long have you been in this position; what is the average size in general terms of the accounts you have under management; based upon the tenure and size of accounts what would your say the average rate of return would be for a conservative investor, a moderate investor, an aggressive investor and how does that compare to your banks Trust department for the same type accounts?

Now you get to the good part: Are you a salaried employee or a commissioned employee or a combination of both?

If commissioned or commission and salary please identify which securities and insurance licenses you have qualified for and have you had any complaints filed against you personally with a regulatory board?

Now once you know how the WM is compensated you can begin to negotiate what rate you might consider and more importantly for his/her greed factor just how much you might be willing to place in this particular WM's care and custody.

You see most of these individuals participate either in commissions or a bonus arrangement based on how much they contribute to the bank's bottom line. Greedy Greedy, they sell you an annuity at 8% commish or a life policy with first year comm at 60%, and lifetime renewals the dollar signs appear like pixey dust

Perks are the banks willingness to court your business and they take the tax deduction for the ability to entertain you

If I am holding several hundred million in exchange funds and tell the WM I am planning on taking 20 m to secure my family, setting aside x to cover any possible tax liability and plan on investing the balance thru your institution so that together we can benefit mankind by funding the following vehicles, do you think we can partner up and accomplish some really fantastic good for mankind?

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