M.lynch managing director, will he get fired?

[Anonymous]

WHO BUYS A SMOOTHIE IN JANUARY IN CONNECTICUT??

And with food allergies, get a blender, and maybe don’t get the one that includes peanuts by default.

[Anonymous]

Anonymous wrote:26 years at a top firm down the drain. Too bad.

He will be fine, sure he has $Ms, so just early retirement. Unless he gets jail time he will be forgotten soon enough.

Look at this horror show, she is a VP at Match.

https://www.nytimes.com/2015/02/15/magazine/how-one-stupid-tweet-ruined-justine-saccos-life.html

https://www.the-sun.com/news/3790849/who-justine-sacco-what-say-tweet/

The white rich take of the white rich don’t worry.

[Anonymous]

white folks protect white folks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those poor girls!!! I really hope their company takes care of them and gives them any support they need to work through such a traumatic experience.

I’ve got no word for his behavior.

“Work through their trauma”?

AYFKM?

This is one of the things that’s wrong with this country. Assuming that people are so fragile they’d be scarred by a shouting match with some a-hole. Life is FULL of jerks like that. If people sought therapy every time they encountered one, they’d never have time to do anything else.

The Russians and Chinese are doubled over in laughter at how soft this country is becoming. It’s shameful.

No, what's shameful is this man's attitude. I don't believe its Russian or Chinese culture to act in a completely disgraceful manner towards young women. He attacked them - physically and verbally - and threatened their safety. Its sad you're dismissing this and I have to wonder why.

Are you serious?

[Anonymous]

Anonymous wrote:He was a jerk to yell at them.
Even if a customer yelled at them I would not want my employees yelling back at a customer like that. Even before he went over the top none of them sounded like they were trying to make it better and de escalate it by how they replied.

Being a jerk should not lead to losing your job.

He was threatening and intimidating. I darn sure don’t want somebody like that working with my clients.
Can you imagine introducing him to a new client and the look on her face when they realize like that’s a jerk I saw inCan you imagine introducing him to a new client and the look on their face when they realize ‘that’s the jerk I saw on Instagram.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

[Anonymous]

100 years ago his great grandfather was an immigrant.

[Anonymous]

Out of all of his choices, he chose to go back and verbally abuse these young women? You are the CEO of Merrill Lynch. Why not just call the CEO of Smoothie King and tell them what happened? I mean...??? Or he could just take 5 minutes and blend his kid a smoothie at home, and never go back. Or hire a cook/housekeeper for this.

[Anonymous]

The people who work with him know exactly the kind of person he is already.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

Valid comments. I’m the PP. there are firms that are less hands on than we are. My firm is boutique and our pay is volatile based upon market fluctuations. My anxiety and stress stems from my relationship with my clients. I want to do a good job for them, make sure they are happy. As hard as I can work to do that, the market has a mind of its own. If the overall market gets hit, my clients accounts will also get hit. They will get mad at me (some clients, many are very understanding). I quite feel like a therapist, marriage counselor, financial advisor and punching bag all wrapped up into one person. I’ve had clients scream at me, cry, all due to a little market fluctuation. My wife didn’t fully understand the emotional toll my job has on me until working from home. My job is amazing when the market is going up, but any bit of volatility and every client wants to blame someone/something. know every job is stressful, but managing the vast majority of a clients wealth is personal…plus money is highly emotional for people. As a partner in my Firm, I invest a ton of my income back into my practice, that’s why I’ve been able to achieve a higher income. My reinvestment has paid dividends (quite literally).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

You put this person in their place.

The only thing more pathetic than a money manager is the person who pays these know-nothings to advise them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

Fundamentally the job is a sales job. He has to sell his clients (everyone from doctors, to firefighters, to small business owners, and plumbers), that HE has their interest in heart, that he will grow their money better than a Vanguard account. People die or switch to index funds all the time, so you have to keep finding clients, so put together free “seminars” on how to invest in tech stocks in 2022 or whatever trendy buzz word will get rubes with money in the door. Sure they are meatheads, but most sales guys are meathead athletes and make tons of money. Just how the world works. I think Merrill is not fee-only but commission based, so on top of selling yourself you have to sell your companies promoted dogsheet, I mean dog food, an you get multiples on your commission for that. Also have to keep the runes trading and moving money to get paid, they can’t just set it to S&P and let it ride, as you will wither commissions AND they will wonder why they pay you.

And then days like Friday happen, and you have calls from angry clients wondering why you didn’t see it coming, they want their money out, etc. so you need to think fast as to why your investing acumen was blindsided.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

You put this person in their place.

The only thing more pathetic than a money manager is the person who pays these know-nothings to advise them.

Well pretty sure Fidelity is a free service included with investing in their brokerage, fee only I expect. They are useful for tax strategy and such, but if they had their pulse on the market they would be trading on that info and rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

You put this person in their place.

The only thing more pathetic than a money manager is the person who pays these know-nothings to advise them.

I’m PP. i just have to LOL. Glad you are so smart and savvy at investing. I’ll keep doing my
Job, you keep being an immature child.

Want to know something? I’ve seen thousands of portfolios and the people who treat me/advisors like this usually are terrible at investing. Maybe you aren’t, but most think they are smarter than the markers and make horrible timing decisions. You do you, but I wouldn’t say my clients are suckers. They are CEOs, doctors, small business owners, hardworking Feds, lawyers, you name it. Using your logic you are smarter than all of them! Good for you buddy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wealth managers are the dumbest of the dumb people in finance

+1

They’re mostly meatheads who couldn’t handle harder courses of study so they shuffle money from one pot to another and are ridiculously well compensated for doing so.

I think this guys is the scum of the world but I appreciate your savvy insights into wealth management. I’m an advisor without a MBA from Harvard or a silt
Overpriced degree. I went to a small private college but and made 1.4M last year as a 36yo. I guess I may not be as intelligent as you but I’m smart enough to have my family and kids set for life.

Do I deserve to make this money, heck no, the industry is lucrative (as are many other industry’s). Do I work very hard and have a load of stress and anxiety, you bet. All my friends in more prestigious “banking jobs” are envious of the time I’m able to devote to my family and would give their left arm to switch jobs. Glad you see it once sided.

I'm not the PP, but .... you kind of proved PP's point. Really, you make that kind of money for being a wealth manager? My understanding is that the wealth managers don't invest money, never quite understood what they actually did, but didn't realize they made so much money. My guy at fidelity just seems to answer my general questions and then turfs out anything more complicated to others at Fidelity. What is your cause of anxiety or stress at the job-- since you want people to not have the one sided view of wealth managers? Anyhow, kudos to you for landing a well paid job that doesn't require too much brain power or time commitment (per your comments).

Fundamentally the job is a sales job. He has to sell his clients (everyone from doctors, to firefighters, to small business owners, and plumbers), that HE has their interest in heart, that he will grow their money better than a Vanguard account. People die or switch to index funds all the time, so you have to keep finding clients, so put together free “seminars” on how to invest in tech stocks in 2022 or whatever trendy buzz word will get rubes with money in the door. Sure they are meatheads, but most sales guys are meathead athletes and make tons of money. Just how the world works. I think Merrill is not fee-only but commission based, so on top of selling yourself you have to sell your companies promoted dogsheet, I mean dog food, an you get multiples on your commission for that. Also have to keep the runes trading and moving money to get paid, they can’t just set it to S&P and let it ride, as you will wither commissions AND they will wonder why they pay you.

And then days like Friday happen, and you have calls from angry clients wondering why you didn’t see it coming, they want their money out, etc. so you need to think fast as to why your investing acumen was blindsided.

Reading this goes to show me you either:

1. don’t have a lot of money
2. Have no idea how financial advisor relationship works/compensation
3. Have been screwed over by a slime bag
4. Don’t realize that many advisors don’t sell themselves out to beat the market. If you work with someone who promises or says that, run. Our services run deeper than buying some ETFs.

I have to just laugh at this type of egomaniacs.