There is no choice. Even if you decide to leave, they are going to ruin your career. They will not change unless they get bad press! This is in no way fair.
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Yeah, they are connected. Roger Ferguson’s wife, Annette Nazareth, was an SEC commissioner. She was actually in charge of Wall Street oversight during the Bernie Madoff fiasco. TIAA will get rid of someone somy because their manager needs to cut costs and instead of admitting that they put things on your U5 like, “Failure to follow internal procedures” or they’ll allude to a non existent “compliance violation”, which will cause other firms to reject your application. I know several folks who had supervisor roles lined up after getting terminated at TIAA, only to get rejected last minute for a false U5 disclosure from TIAA. It’s awful. They’ll wreck your career rather than just admit they needed to reduce headcount. They do it on purpose so clients can’t follow an advisor they liked. TIAA really is all about maximizing managers pay at the top. Managers are OK with misleading clients and abusing employees if it helps them stay in management to collect the big salary, overly generous managerial level benefits and bonuses.
They have been ruining careers for 20 years. They are politically connected with FINRA and the SEC. Look at Roger! Tell me that's not political. It is a two class system at tiaa. Those who have and those who don't. And it will NEVER change because of all the government contracts that they have. The Board pays those who have the political influence and screws those who don't matter.