Will the Martha Vineyard’s elite really get away with this https://www.thinkadvisor.com/2024/07/08/fidelity-hits-back-at-fired-advisors-reg-bi-lawsuit/?amp=1
6 replies (most recent on top)
yes
Yes, keep telling yourself no one is above the law. Yet, how is that working out with Trump, who should have been jailed long ago.
“The fact is that Fidelity did not raise any policy violations or performance issues with Maeker until after his whistleblowing report,” the lawsuit asserted.
Maeker has joined Texas Capital in Fort Worth as executive director, senior investment advisor for Private Wealth Advisors.
Legal experts have suggested Maeker’s lawsuit potentially could prompt the SEC to investigate and that it could lead to civil or criminal charges.
YOU'RE NOT ABOVE THE LAW ABBY
I have a friend (out side fido), who doesn't make much. Called in to check if her 401k was doing ok. she got transferred to some FC who pushed really hard to get her to managed account. good thing she had the sense to say 'let me think about it'. Why would you do that to someone who doesnt have much? skimming off the poor. what has happened to this company?
In my opinion, it’s irrelevant what Maeker did or didn’t do. I was in the branches for years and I experienced Fidelity branch leaders, market leaders and managed solutions “vice presidents” pressure and “coach” branch reps to get clients to purchase annuities and managed money. Fidelity can call it “consultative selling” and “complexity” all they want but payouts, rankings, rep training and messaging reflect a different picture.
Ask any branch or phone FC how real this is, because it is. Managed solutions and insurance (annuity) are definitely pushed hard and advisors are coached what to say and do to steer clients in that direction.