https://www.financial-planning.com/list/first-republic-takeover-causes-pershings-q2-outflow
5 replies (most recent on top)
I’m amazed that Pershing even existed for the last two decades. As with all of New York it was hopelessly mired in the 1980s.
For many @Pershing it's not what you know or how much you do, but whose rear you kiss! It use to be a good company to work for many years ago.....
Not really new news, once the -you know what hit the fan the advisors flew. Then the sale to JPM so more left. They should be focusing on the outflow of advisors that leave due to the terrible service model and weak management.
No shortage there.
Quick!…. Where the outflows?
Pershing has always been a truly dishonest and dysfunctional organization.
But the question is where the outflows greater than the inflows experienced from the recent bank failures? We opened up many new accounts during Q1. Ebbs and flows.
BNYM is still a toxic place, just pointing out that this may not be as bad as it sounds at face value.