Could Penny have sc--wed this firm up any more if she was trying? I would doubt it. She probably needs to pull a George Costanza and do the opposite of every single instinct she has ever had. If she did that the firm would probably soar. Penny is a minnow swimming with sharks. Sorry, Penny, you are in over your head. You just need to admit it and step down.
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@op There is not enough room even on the internet to name all of Penny's missteps.
@aq they’re leaving because those are firms are better.
@b3 “Teaming” is optional now. It is likely to be mandatory in the near future.
@aq Yes, it is only at the home office for now. It won’t be as easy to explain to clients when CST roles are reduced or you have to start sharing staff between branches—imagine the asset outflows when that starts happening.
@a9 Our branch has had quite a few inquiries from clients as to the company's health because they have heard Edward Jones is laying associates off. We have been trying to tell them it is only at the home office. Some of our bigger clients have taken their assets elsewhere as they fear the layoffs are a sign of company instability.
Other top executives at Raymond James, Charles Schwab, Fidelity, and Morgan Stanley know she cannot handle the job. Look for these companies to take advantage of Edward Jones' now weaknesses that Penny has caused. Definite exodus of assets happening at the firm currently.