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(New York Daily News)   So plaintiffs, you're saying Merrill Lynch is like an old bankers boys club?   (nydailynews.com) divider line 8
    More: Obvious, Merrill Lynch, New York Supreme Court, New York Stock Exchange, lawsuits  
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1408 clicks; posted to Business » on 25 Jul 2013 at 1:38 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



8 Comments   (+0 »)
   
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ZAZ [TotalFark]
2013-07-25 01:29:42 PM  
financial adviser trainees ... assigned women demeaning duties

What is a demeaning duty for a financial adviser trainee? Helping customers with five figure incomes?
 
2013-07-25 01:47:21 PM  
Demeaning = no assigned parking.
 
2013-07-25 02:03:00 PM  
So they didn't let the womenfolk rape the asses of the general public?
 
2013-07-25 02:30:20 PM  
I was very happy when I finally rolled an old 401k out of Merrill Lynch into my Vanguard portfolio.
 
2013-07-25 08:14:54 PM  
As someone that was once a Financial Consultant with Merrill Lynch (and went through the training, AKA: PDP), I can tell you that there was no difference between how the women and men were treated.  I can tell you however that they used fresh-faced/naive college grads to gather assets and then let them go so that they could then distribute their assets amongst the bigger brokers.  Fark that place.
 
2013-07-25 09:47:51 PM  
Perhaps they gave them the OL treatment and had them make and serve coffee?
 
2013-07-26 03:20:17 PM  

8 inches: As someone that was once a Financial Consultant with Merrill Lynch (and went through the training, AKA: PDP), I can tell you that there was no difference between how the women and men were treated.  I can tell you however that they used fresh-faced/naive college grads to gather assets and then let them go so that they could then distribute their assets amongst the bigger brokers.  Fark that place.


This.  They're just as willing to fark over women as they are men.
 
2013-07-26 04:56:55 PM  

LL316: 8 inches: As someone that was once a Financial Consultant with Merrill Lynch (and went through the training, AKA: PDP), I can tell you that there was no difference between how the women and men were treated.  I can tell you however that they used fresh-faced/naive college grads to gather assets and then let them go so that they could then distribute their assets amongst the bigger brokers.  Fark that place.

This.  They're just as willing to fark over women as they are men.


That's sales in general. Here's the trick that every sales manager will never tell you. The only reason sales jobs are ALWAYS hiring is in case someone else leaves.

Here's the rub. There's a finite number of people who can buy or afford to buy a tailored product. Newbies are preyed upon to find who they can that is willing to buy X product, but more often than not the newbies will accumulate some folks to buy X product, but not enough to make a sustainable living. It's not because they didn't work hard enough or didn't try. Again, there's only so many people who could potentially buy or want to buy X product. The demand in any one market is not infinite.

Those clients that the newbie got are then transferred to one of the top account holders. The top account holders are now making even more money for work that they didn't even do. It's a truly vicious cycle & one that doesn't really break until those account holders at the top either retire, move, quit or die.

The sales managers know this, but will only admit this after the fact. The newbies are there to accumulate additional sales & to be in the right place at the right time if someone else leaves. I don't know if this practice should be illegal, but God knows its shady as all hell.
 
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