It is clear that the ELT is grasping at straws. Retention and Growth are stagnant as our overall service level has fallen to never seen levels of FA disappointment . The promised efficiency of Salesforce and Moneyguide for branches has never arrived.
We are all living the agile worst case with broken systems and products that will never live up to the hype. If this is finding our Rich then count me out.
Is FA satisfaction really that low? I don’t think they share those numbers with HO associates do they?
Talent bleeding
Everything that occurred at my last company is happening here. I was at a financial services company who hired a new CEO, the new leader had their own agenda that contradicted the values of the company, the CEO promoted from the outside, they hired outside of the industry, lost the old-guard who kept the climate and culture intact, layered in legacy systems and technology with new technology, and I could go on.
PP has been the beneficiary of cutting costs during COVID from ‘20-‘22, record profits can last so long before the asset and talent flow for the past 6 years are indicative of her leadership. She lost the trust of the FA in ‘22, the home office in ‘25, the BOAs in ‘26…the client reckoning on the horizon will be her final chapter in a tarnished legacy.
@az add the HCM debacle to be added to the technology mash.
@bw , we've been told a lot of things! Paper free in 83' ! Green screens are going to be obsolete.
Instead a new year.. definitely not paper free and green screens still here. We are utilizing several platforms to retrieve information for client accounts.
@bw LPL’s new VP of Corporate Strategy had to do something to look valuable. Along with the rest of the external senior leader hires who are more connected with their past than they are Edward Jones.
I left EJ more than a year ago, and pay for the "best" CRM available. It's NOTHING compared to Joneslink. It's comparable to Salesforce (which is actually a hybrid system- mixed with Joneslink), it's very clunky. We were told Joneslink was going away, that it was outdated and failing, soon to be an obsolete program and unable to function. What a crock of p-o! They felt like they needed to pay a lot of money to upgrade the system so it would be competitive/better, when they actually had the best system in the financial world. What a trainwreck!
SalesForce and MoneyGuide are completely inefficient for branch teams. What used to take split seconds to do now takes 5. It is SO FRUSTRATING.
Think of the fees about clients pay for our services! I feel sorry for them. They are not getting g their money's worth. And, in the field, it's the same way. The only way to survive is to be an echo chamber for the FA.
Why do you keep calling them ELT. Just call them "ET" there is no Leadership in there.