Wealth business is a disaster- Barry has no clue and his restructuring of the wealth group is poorly designed and executed- directions shift every 2 seconds- just like his town halls- squirrel/ shiny object- and his LT. Micheal (advice) is the most arrogant and low eq person despite him reminding every “human being” every day that he is a behavioral scientist... this dynamic duo, yes men of Chuckys club from JPM are weak,indecisive, and overtly political — and when they read this they will gloat and tell themselves — we are having an impact- well gents you are: just not the one you think you are.. reality check please!
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I think you are probably afraid of the significant change that is coming. Change is especially hard because of people like you.
What is Next Paradigm? This has been tossed around for the last 3-5 years. Seems to be a fancy term for someone to keep a team around. The operations side overall is just a mess. Doesn’t seem to be any leadership or direction. Just a lot of chickens running around with no heads.
@vhz+1aaguXWz Honestly, it is not clear that Charlie reads. I think that he gets all of this from the tube. He is a very up to date and accurate Parrot, but that appears to be it. Probably enough for a figurehead but we do need more.
I actually know a lot. Advisor attrition didn't take off until the bank dragged the name through the mud. Also, look where the FAs are going, not to wirehouses. They're going independent most likely. Ironically ML and MS have lost more FAs and they didn't have as large a scandal as our bank owner.
Wealth is a mess but it was a mess before Barry. Those folks can't hit deadlines and deliverables to save their lives.
Wealth IS a mess. I agree with OP. Start asking questions of your co-workers about who reports to who now, and which responsibilities are under who, and you’ll see that no one can answer any questions. It could be a SNL skit.
@azv, Welkers arrogance is a great way to put it. I found it interesting how much was cut from Private Banking in the last 2 years when they didn’t have WBS revenue to pay for everything. They looked at the FA’s with disdain and did everything they could to steer money towards IFS so it couldn’t go to brokerage. There are still RMD’s thinking we need to continue working the way we always have.
For Post ID: @azv+1aaguXWz
You don’t know sh-t. Take a look at advisor attrition. Majority of employees are miserable. Anyone ever wonder why Barry “Retired” from JPM?
LOL @ "common sense fraud prevention"
This is both a solution in search of a problem and a euphemism for something else. There is only a fraud problem when a particular side loses, and that's also the only side consistently found guilty of such in court with evidence. Absentee and early voting was totally cool until the wrong kind of people started using it - amirite?
I think they are making the right moves. It will take a long time to complete though due to RSNIP. There's no reason to have three separate wealth channels. And quite frankly PWM was run poorly without any oversight. Now it's a reality check. Seems Welker's arrogance was contagious
The half of this country that still thinks the election was a fraud is not reachable via reasoning or any good faith debate, and shouldn't be dignified by being responded to.
@pvm
Have you or Charlie even read up on the law changes in Georgia? They are common sense changes to prevent fraud, like having an ID and proving your identity. You disagree with having an ID to vote? Are you not concerned that more than half the country see's the election as a fraud. Charlie has no right to be speaking on behalf of the company regarding politics, he should keep his personal political thoughts to himself or state that they are his own personal views.
You disagree that voting rights are important?
Charlie needs to stop talking politics.. I’m a shareholder who strongly disagrees with his political statements.