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World Mental Health Day

I hope you're all doing well. Have you noticed how our Chief People Leader (er... Eater) recognizes World Mental Health Day by celebrating our contract partnership and collaboration with Spring Health and how this is powering our culture? Spring Health, for its part, is also quick to point out the partnership and how wonderful it is that BNY recognizes and prioritizes mental health concerns by offering employee coverage.

What's truly astonishing in all of this corporate speak, though, is that BNY senior leaders fail to publicly acknowledge their role in contributing to associate mental health challenges caused by a toxic BNY culture in the first place. Something's definitely wrong with how the narrative is being framed.

We should be celebrating our people and sharing stories about what the company is doing to provide further assistance. Celebrating our vendor relationship with Spring Health and bragging about facility unwind rooms on social media is simply not the best message for what is being done to create an 'amazing work culture' for our associates.


** Dropping

I am a manager with a team taking calls for a big mutual funds client.. It was not communicated officially but there is chatter that they don't want our service anymore, looks like it's a done deal. We don't know if that means layoffs for all our teams... Zero official communication and the team morale is below zero. Anyone got any more information to share about this?


Oh look, ANOTHER meeting BACKWARDS — I mean FRWD meeting

Another performative meeting. Same fake smiles, same empty hype. The opener must’ve said “I’m so excited” five times — and I couldn’t tell if he was convincing us or himself. These things are so staged it’s painful. Nothing real, nothing transparent. At this point, soap operas feel more honest. At least actors admit they’re performing.


Wheels Up to India

This week a big group heads to India including Penny, a few ELT and OC, Operations, and Digital. 30 GPs and directors will be touring cities in India to make a decision on where the Edward Jones Flag will be placed in India. This is the next round of Enterprise Reimagined they told us about called Sourcing and Shoring which means outsourcing more US jobs to India. Get ready all, you are not safe and this next phase of ER will be way bigger in job lose then anything we just went through. Another few hundred jobs will be eliminted and moved to India in 2026 and will be higher in 2027.


Not good, not good at all

Investment bank Jefferies disclosed on Wednesday that its Leucadia Asset Management fund holds about $715 million in receivables linked to bankrupt auto-parts maker First Brands Group.

https://www.reuters.com/business/finance/jefferies-discloses-715-million-fund-exposure-first-brands-bankruptcy-2025-10-08/


Penny's Missteps

Could Penny have sc--wed this firm up any more if she was trying? I would doubt it. She probably needs to pull a George Costanza and do the opposite of every single instinct she has ever had. If she did that the firm would probably soar. Penny is a minnow swimming with sharks. Sorry, Penny, you are in over your head. You just need to admit it and step down.


Bo-b drops today

Some folks have received the memo, communication already.

Others will have the decision communicated today and in stages rest of the week.

Bob's reshuffling at the top has fueled another change, no one is immune.

If the numbers are to be believed, expect ~6k associates to be impacted

Entire 6k will not be this week but in stages, until Q1 2026

If your manager tells you otherwise, they're lying of course


quick update

Mutual of America Financial Group Data Breach – Investigated by Federman & Sherwood
Oklahoma City, Oklahoma (August 22, 2025) – The law firm of Federman & Sherwood announces that it is investigating a data breach involving Mutual of America Financial Group, which recently filed a notice of data breach with the Attorney General of California.

According to the company’s notice, on July 22, 2025, Mutual of America inadvertently.


Mutual of America continues to miss the mark on everything!

How much longer is the board going to allow management to destroy the company? MOA was known for exemplary customer service, now, the amazing customer service leaders are gone, and the new horrible ones remain - and of course - Moriarty who has single handedly caused the most damage in operations/customer service - think new system and removing service from the Field Offices. It's not shocking to see that complaints about service continue to plague them...From BBB

Date: 05/19/2025
1 star
Our woes with Mutual of America I, and my sisters, *** and **, lost our mom on November 5th, 2024. In February, Mutual of America contacted me about a policy, with a small payout (just under $5K). Neither of my sisters received any information about this policy.However, I was paid a much larger amount. Mom had 2 policies, which were paid to me, 1/3 of each policy; my sisters still had no documention about either policy. They had to call to get forms sent to them.Several weeks later, my sisters had still not been paid anything. *** started calling (14 times now, so far), usually being told she just needed to wait a couple more days (this is their normal response).One day both *** and ** called seperately, *** was told it would be 6 to 8 weeks, while ** was told 10 - 15 days. Same day, different results. *** was told there was no supervisor she could appeal to.April 28th, MoA contacted me and told me a mistake had been made in my payments. had set a 40% 40% 20% split on her larger policy (but not the smaller policy which was equally split) and I was the 20%, but had already been paid 1/3 of that policy. So, they asked for the overpayment returned to them. I mailed them a check, cashed May 9th 2025. ** was told it would only take a couple days after my repayment came through for them to pay out the policies. As of May 19th, neither sister has received any of their money.We're extrememly frustrated with the runaround this company has given us. ** seems to be programmed to say "A few more days", until the next call, and programmed response that it will always be just a few more days.Update 5/19/25 Another call, another 5 day wait to "investigate". They are currently saying the repayment check was not showing as cashed (it cleared 10 days ago). They said they needed time to investigate. Again, nothing is happening.
Date: 04/17/2025
1 star
I wish I can give them zero stars!!!! This company in the worst company in the history of business!!!! They are liars and crooks!!!!! I been trying withdrawal my money for a year!!!! I did everything and when I finally got the approval they came with other excuses!!!! I gave them my bank to send it straight deposit they said my bank could not do it smh then they said they was sending a check and said it was the wrong address and that it was sent back to them and they said someone cash it!!!! Then they saying they had the wrong address but I was getting information from my address they said they didn't have in my mail!!! Now they saying I have to sign a document talking about the check was cash so I can get my money!!! These people are liars and crooks!!!! If your company put your money here I suggest you get it out asap! And we track the check it was cash from someone that work there offices! The manger was very rude and disrespectful it's disgusting!!! The people that work there don't have a clue and will put you on hold forever!!! This company operates like it's 1987 smh
Date: 02/25/2025
1 star
Employers and account holders of 401 accounts be CAUTIONED with using this company. Mutual of America has purposely made it incredibly difficult and confusing for anyone to do a proper rollover. I've spoken to multiple customer service representatives to deliver a withdrawal/rollover account. Each time I am given contradictory information, and I've been careful to ask, is this the right form, their answer, "correct - everything should be good to go", and after receiving a document this has been processed, it turns out NOTHING has been processed. I am now being told there is no clarity from processing and they're all awaiting a response - we are hitting two months now and I am not receiving any assistance. The amount of time and energy to just get a rollover is incredibly inappropriate and the company should be held accountable. I can't imagine how many others are experiencing similar issues. This has been a disaster and they are creating more friction, and barriers than needed to roll over your account. I have never dealt with such confusion and bad actors for a company as big as this!
Date: 01/14/2025
1 star
Terrible organization to do business with. Communication, service, ethics, morals all lacking...
Date: 11/24/2024
1 star
Unbelievably bad communication. I am trying to get my 403b rolled over after years of not working at a former employer and its been a total disaster. Their employees gave me contradictory information with every call, messed up forms, initiated a forced withdrawal against my wishes despite having enough money in the account, and to add insult to injury after weeks of discussing with 3-4 different employees how to process this request online, get a form letter saying that this is impossible and I have to mail them something. RUN away from doing business with these buffoons.

Date: 10/16/2024
1 star
Money has been missing from my account since Oct 2 and they did not enlighten me to where this money can be.
Date: 08/28/2024
1 star
Do not sign up with these people through your employer or anyone. They Are scammers. They will take your money from your paycheck and it will be extremely hard to get it back once you are no longer employed. ** is terrible and they will keep lying to you every time you call. This is the worse investment company out of all of them stay away from these people!!!
Date: 08/15/2024
1 star
Absolute worst customer service. Although, I have email receipts of when documents were submitted they claim to have no knowledge of ever receiving them.This is after speaking with one their representatives a week prior who at that time noted that my application was received and in process. Only to call back and have them tell me they have no knowledge of receiving anything from me. Furthermore, they refuse to take the time to patiently and with tact resolve the matter. They are uncaring, short, and well beneath the basic standards of conducting business.

Horrible Job MOA team - you should all be ashamed of yourselves for not providing any good customer service, someone needs to pull the plug at MOA...looks like there is no hope left. If you are still there, run - fast - run, and leave the trauma of the job behind.


If you are affected, will you keep your account at Jones?

If you are affected and if you have a Jones account, will you be keeping your money at Jones? I realize most of us are small fish to leadership so it probably wouldn’t even be noticed if I took my money out. I have nothing against my financial advisor but I’m not sure where I would go. Any thoughts?


With Trump's 401k Expansion order, how will the Fidelity 401k change?

Been away from Fidelity for a while. I was wondering if the 401k expansion order the current cabinet is working on will effect how Fidelity's 401ks work.

As far as I know, it's just a bill, so nothing is guaranteed. But, if the bill passes, then 401ks will ideally have more potentially asset options to invest in. Those would be private market, real estate, cryptocurrency funds (NOT actual crypto), commodities (physical gold or gold contracts), infrastructure financing, and income. The Department of Labor is now working with the SEC to see how many of the 6 things can pass. Again, we don't know if any of them will pass. But if some of them do pass, then it'll be up to the employer to decide which of the options that are passed can be invested in.

So let's speculate. Of the six potential options, IF they become a real thing, which investing options would Abby and co. offer to Fidelity employees for their 401k? There's a lot of hulabaloo about the current state of dynamic work, but would this make Fidelity a more attractive place to work?

I know I mentioned this is the trump administration, but let's please keep political opinions out of this.

I love this video for reference, although I'm good at budgeting and financial literacy, I'm not THAT good. Plus, anyone can use this for educational purposes, too: https://www.youtube.com/watch?v=5WzlS8qEIKw


SS&C Welcome our IBM Brethren

SS&C announced today that it has entered into an agreement to acquire certain Algorithmics and related assets from #IBM.

Algorithmics provides leading #risk #analytic products and services for the #financialservices industry worldwide.

The addition of Algorithmics will extend SS&C's #riskanalytics and regulatory offering. The acquisition is expected to be completed in the fourth quarter, pending the completion of customary closing conditions.

IT stinks

I work in the accounting department and rarely does any new application work as designed. Instead we spend months cleaning up issues. Look at Hyperion, what a giant waste of millions of dollars, it should be scrapped.