M.lynch managing director, will he get fired?

[Anonymous]

Anonymous wrote:

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.

Ohhh i see, you have “special relationships” with the rich. Yeah, we hear a lot about that in the news these days, upstanding bunch, hanging with royalty in fact. L

[Anonymous]

Anonymous wrote:

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.

Why don’t you tell us what you exactly do rather than just what you don’t do? Since you came out swinging insults, I guess I touched a nerve, sorry I was just explaining to PP why someone without much academic pedigree or actual market prowess could command such rates. Perhaps there is a service I am ignorant of, because no matter how many $Ms we have, I know I will never engage a wealth manager so I am curious.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Why don’t you tell us what you exactly do rather than just what you don’t do? Since you came out swinging insults, I guess I touched a nerve, sorry I was just explaining to PP why someone without much academic pedigree or actual market prowess could command such rates. Perhaps there is a service I am ignorant of, because no matter how many $Ms we have, I know I will never engage a wealth manager so I am curious.

Some of our offerings, included in our fee: drafting any estate planning documents (all types of trusts, wills, medical directives, etc), tax prep/planning with CPAs, we have an in house therapist for clients, lending solutions (investment credit lines, mortgages, m&a financing, etc) via our private bank network, and the basic other stuff you’d expect ( SS experts, Medicare/insurance experts, etc)

My day to day is essentially acting as the CEO of the reaction ship. Our research team does 95% of the investments.

Every wealthy person I know (let’s say 10M+ investable) works with an advisor.. for the mass affluent with a million or two, an advisor might not be worth it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Why don’t you tell us what you exactly do rather than just what you don’t do? Since you came out swinging insults, I guess I touched a nerve, sorry I was just explaining to PP why someone without much academic pedigree or actual market prowess could command such rates. Perhaps there is a service I am ignorant of, because no matter how many $Ms we have, I know I will never engage a wealth manager so I am curious.

Some of our offerings, included in our fee: drafting any estate planning documents (all types of trusts, wills, medical directives, etc), tax prep/planning with CPAs, we have an in house therapist for clients, lending solutions (investment credit lines, mortgages, m&a financing, etc) via our private bank network, and the basic other stuff you’d expect ( SS experts, Medicare/insurance experts, etc)

My day to day is essentially acting as the CEO of the reaction ship. Our research team does 95% of the investments.

Every wealthy person I know (let’s say 10M+ investable) works with an advisor.. for the mass affluent with a million or two, an advisor might not be worth it.

Sorry for typos. Autocorrect sucks.

[Anonymous]

Love seeing the shock on white peoples faces when a POC returns the same type of energy.

[Anonymous]

I’m not the PP advocating for an advisor but the ones belittling that profession clearly have deep seeded issues. I have many friends with significant wealth and every single one of them use a full service professional. Why? Because their time is more valuable and they would rather pay a fee to have someone handle it.

[Anonymous]

Anonymous wrote:100 years ago his great grandfather was an immigrant.

So true. Italians were not looked upon kindly.

[Anonymous]

Hell be fine...clients are usually incredibly loyal and discrete. If ML let's him go he'll walk across the street to MS or UBS. Money talks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Why don’t you tell us what you exactly do rather than just what you don’t do? Since you came out swinging insults, I guess I touched a nerve, sorry I was just explaining to PP why someone without much academic pedigree or actual market prowess could command such rates. Perhaps there is a service I am ignorant of, because no matter how many $Ms we have, I know I will never engage a wealth manager so I am curious.

Some of our offerings, included in our fee: drafting any estate planning documents (all types of trusts, wills, medical directives, etc), tax prep/planning with CPAs, we have an in house therapist for clients, lending solutions (investment credit lines, mortgages, m&a financing, etc) via our private bank network, and the basic other stuff you’d expect ( SS experts, Medicare/insurance experts, etc)

My day to day is essentially acting as the CEO of the reaction ship. Our research team does 95% of the investments.

Every wealthy person I know (let’s say 10M+ investable) works with an advisor.. for the mass affluent with a million or two, an advisor might not be worth it.

We have a lot less than 10 m and are very happy with our wealth management advisor … ours also helps us to invest in the kinds of stocks we feel comfortable investing in (pro women and green among other factors)

[Anonymous]

Anonymous wrote:Reminds me of some of the attorneys I’ve worked with over the years. A psycho just walking around, ready to snap.

😂😂😂

I think they must be blowing off steam calling people here who dare to disagree with them losers and dumba$$es … better us than teenage minimum wage smoothie makers, I guess.

[Anonymous]

Anonymous wrote:Love seeing the shock on white peoples faces when a POC returns the same type of energy.

I guarantee you that is what made him the maddest. I’m brown and when someone is rude to me I am rude right back and they get so angry bc they are not expecting a little brown woman to talk back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Love seeing the shock on white peoples faces when a POC returns the same type of energy.

I guarantee you that is what made him the maddest. I’m brown and when someone is rude to me I am rude right back and they get so angry bc they are not expecting a little brown woman to talk back.

Same. People are always so shocked when I talk back to them. They do not expect it.

[Anonymous]

Wahhh wahhh,

https://fpdct.com/news-releases/subject-arrested-in-robeks-disorderly-incident/

[Anonymous]

Meanwhile TikTok banned the teenager who posted the video.

[Anonymous]

These people almost killed a child but he should've said peanut allergy not leave peanuts out