CFO to make some big announcements this week. Boca property. DFS. Interest Rates. Reinsurance. Strategic plan. Word on the street is spending needs to be cut further and new ways to generate organic revenue over sleight of hand accounting tricks. More restructuring on way. There is massive concern revenue generators have been slow to market. Fee revenue per capita keeps going down with continued fee pressure. More focus on low balance customers. Obsession over low balance IRAs which generate no revenue. High balance participants have no new tools or resources. Strategy is backwards and doesn’t stand up to logic. Firm takes better care and attention of someone with $5000 over someone with $500,000. Organic sales are weak. No CITs. No online tools. Website trails its peers. Dramatic change is needed. Defections will continue
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Neal Goldstein is a very bright and affable guy, I could never understand why he took the job here in the first place. Maybe he thought he could turn the tech around? In any case, he did smart thing by bailing out and saving himself.
@n6
Selling, yes.
Lease back, no.
@n4
Heard he is going to be the chief tech guy at a company near where he lives. Great opportunity for him.
@n4 wow. Thanks.
An article in the South Florida Business Journal this week stated that Mutual of America is selling the Boca property land and wants to lease back its facility.
@n3 Neil Goldstein not sure why
@mt A tech exec quit? Who? Any idea why?
@jn they probably had to cancel
It since a tech executive just quit.
@cj LOVE the "Spies Like Us" reference. Classic:)
Any updates on the big update?
"We mock what we don't understand." - Austin Millbarge
Maybe she should focus on the millions of dollars and scads of manhours spent coming up with a new IRA product which will not generate one cent of revenue?