If you're able, get licensed and the FPQP designation. I know it seems intimidating but you know more than you think.
Tenured BOAs are being let go through teaming. Remember all that dust we kicked up about our pay? Yeah.
Be prepared.
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curious, anybody know how many, percentage wise, BOAs are women vs men?
@x8 Never had noticed that PP kind of resembles Ghislaine M! Guess it makes sense that they are recruiting younger gals for the FAs.
@11m this is true. HO has expectations mostly set of one BOA per three FAs. Mergers = BOAs gone. AFA and RBAs are still mostly safe due to the ability to make transactions in client accounts. Registered and certified BOAs need to move to another CST role to keep their jobs.
@11m Also, if you are a BOA who knows what they are doing, have been here longer than 10 yrs, and is over the age of 35, consider yourself high risk of being forced out. They want young, d-mb, cheaply paid boas now that can used as eye candy and will comply with whatever new insane policy penny and her cronies roll out.
Advice: if you are a BOA and hear that your office is "merging," start looking for another job immediately, so you are prepared if they use it later as a way / reason to eliminate your position.
This is a modus operandi they are very confortable using.
They will use "office mergers" to get rid of BOAs they don't like or get rid of the ones who have critical thinking skills.
An FA who demands total praise (like a narcissus) will get rid of anyone he/she/they don't like or who easily threatens them or.....has more education.
Or even more simply, a chance to bring in the young girls to gawk at all day.
Ageism is alive and well at EJ.
Advice: to keep your job - pretend your d-mb and smile. Question nothing and just nod.
@kp The partners want MORE
As a HO person, yes, tenured BOAs are being kicked to the curb - be prepared.
@c1 Cutting expense is fine, but doing it to where all your talented, knowledgeable, reliable people leave and are replaced at home office with cheap sloppy indian labor or 21 yr old job hopper boa's, is a recipe for disaster long term. They want to cut what makes the firm function while completely ignoring how much money is wasted on failed marketing, expensive phone booth pods at H.O. and bloated salaries for GP/ELT who literally do nothing productive here. All they do sponge $ and break stuff.
@b5 I'm really sorry for that. I hope you're on to better things
@af It doesn't make sense unless the goal is to cut expenses.
I've heard stories and multiple BOAs have posted here about being squeezed out. I fear it will become a trend.
Dont forget - you can always file with the EEOC when a discriminatory reason is used for the discharge of your job.
@af With these leaders at the helm, who are unaɓle to managed pragmatically and logicallly, this move makes sense! Having clients pay high fees for inexperience amd youth makes total sense ;-)
I can attest to this! Let go after 10 years and was 1 week away from taking my Series 7 when told my job was being eliminated due to a "merger."
Why would we push out the tenured senior BOAs? Those people are the glue that hold the branches together.