Pershing has some serious issues, the first being they have driven the talented people away and all the average to low performers stay. If you are actually a good employee some leaders feel threatened by you. The culture of just rewarding “the in crowd” is not sustainable. You still need someone to do the work here. They keep changing the service and support model no one can keep it straight, especially harmful to clients. and they have waisted hours of time by so called workstreams to “reimagine” everything. The buzzwords are off the charts. The leadership over Advisor service is a joke, and the leaders don’t have a passion for the client experience, they have no idea how to truly take care of clients. There are licensed people reporting to non-licensed people, it’s astounding. Pershing doesn’t inspire clients and everyone that hasn’t jumped ship is trying to. Clients don’t leave because it’s hard to unwind a custody/RIA relationship. They don’t stay because everything is great, they keep the small part of their business there. If Pershing would get someone innovative and a “distrupter” to come in and shake things up and to give another viewpoint they might have a chance to compete in this space and not do layoffs. I suspect all this apathy was a plan to lose the talent so people would quit so they don’t have to do a layoff package.
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Pershing makes even Fisher Investments look good by comparison.
And that, my friends, is really saying something…
It’s really difficult to visualize anyone who would elect to become a high fee customer of Pershing. Pershing wasn't even on my top 20 list when I retired.
Suresh has been gone for 5 years already. Get over him.
I’ve worked with, but not for, Pershing ever since we were acquired and I can assure you that Pershing has never been well managed and their systems are anything but modern. It’s astounding that anyone in Financial Services would Park their assets in Pershing.
Suresh may have had people bamboozled with his talk of early and first tech trading platforms but he lagged well behind eTrade and was in the middle of the pack of dozens of other internet brokerages. Suresh brags about first handheld apps, etc but literally every brokerage was rolling them out at the same time.
Suresh however is a one of a kind genius at self promotion.
Pershing's "house" is on fire. You can blame its culture of failure on the incompetence at the top.
Great working with you Maura Creekmore. Sorry they forced you out too!
I know employees who have their personal financial assets managed by Pershing. Can’t for the life of me understand how anyone working here could make that decision.
it all comes down to not paying the high performer enough, and keep giving them extra tedious work, instead of allowing the talent actually perform what they are good at