Sick and tired hearing those words. Nowhere does Schwab mentions employees and their wellbeing. As if only clients are important, but not the employees. Sure, we receive thank you here and there, sounds hollow. Why are we not important to Schwab? Anybody has the same feeling?
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Employees matter, but he clients matter more. That’s why the business exists in the first place—to serve clients. You work for the company, they don’t work for you. You may be entitled and have the attitude “well I’ll just go somewhere else, it’s an employee market”, but those days are coming to and end. With inflation at an all time high, and a recession imminent, companies everywhere will start trimming the fat. Those that provide the most value to the bottom line are the ones that will stay. I’d recommend you change your winey entitled attitude and start realizing your place. You are the employee not the employer. They pay you to do a job.
@1vkx+1fcsuiqt What’s funny is Schwab paid for us to be here and will continue paying for us to be here regardless of how much we whine and complain. I, for one, intend to stay and complain. Making your life miserable is just a bonus 🙂.
If that was the case, this integration would probably done by now. Schwab is concerned enough about client attrition that it’s investing billions of dollars in hardware, software, and people to bring over TOS, order management, market data, digital feature parity, and etc.
Let’s not forget they already promised TOS to clients publicly.
Would not be surprised if TOS does not survive CD1. I think Schwab is willing to take that risk. They’re not going to bend over backwards for a very small client subset relative to their total AUM. They can afford to lose some traders. Here’s the thing about traders, using the words of George Carlin - couple of winners, whole lot of losers. Reality is most people don’t make serious money trading. Trading is nowhere near as big to Schwab’s bottom line as it was to TD (more of a nice to have). Schwab’s bread and butter will continue to be financial advisory services, period.
@1vkx+1fcsuiqt Who hurt you? Lol
Personally I don't give rat but about how TDA does it, did it, or whatever. You got bought. F off. Thats it. Personally, I could care less if CD1 happens, or if Schwab goes down in flames. I made so much money from my RSUs, stock options, and purchased ESPP shares over these years, I can retire now if I wanted to. I like to just hang out and watch things burn. The kicker is watching Green gripe, complain, cry, about how bad it is. Leave. LOL. No one here cares if there is no one left to run TOS. No one will be here long enough to have that affect us. LOL.
No employees without clients and no clients without employees.
TDAs approach was take care of your employees and they in turn, will take care of your clients. If the needs of your employees aren’t being met, how can they meet the needs of your clients?
It goes back to that whole idea of servant leadership. That was clearly not a go forward philosophy.
We are here as employees because of the clients. If there are no clients, we would not be here as employees. There would be no company. It's analogous to serverless. AWS Lambda and Google Functions are touted as serverless. It isn't really serverless, its just someone else's computer where you are running the containerized "functions" under the hood. You just don't need to explicitly provision the servers, and make sure you have the right amount running all the time to meet your capacity needs.
Employees are just like Lambda functions. They need clients to exist. Its just that we don't need to get and provision our own clients. They are already there. But it helps to look the eyes of the client, so that we can run better. Be better optimized. Allow for better scalability. More resiliency.
Talking Through Client Rear-ends.
We’re all technically clients. I think our systems are complete junk.
Schwab HR is the worst, most managers are incompetent. Time to go.