It was one year ago that our ceo decided to file a lawsuit against the former company President, CFO & Chief Sales Officer>After 1 yr & $1M in legal fees spent on both sides, the case is heading towards depositions>The only evidence that the defense has produced is a screenshot of a Efast 5500 page>They have deleted texts, spoiled evidence, & there about 10 MoA employees who could be deposed to testify against them. Deck is stacked>They want to settle but MoA wont give a # + I say this settles for $1.5+legal fees split + Non Compete for 10 yrs. Enough to effectively lock them out. there are more cards to play like complaints to Finra, Sec, NYDFs. stay tuned & grab your popcorn. The second act begins in 10 minutes 🎥🎞️🍿
14 replies (most recent on top)
@28g malarkey is a cancer. Knows nothing about recordkeeping or operations. He & rich must be Buttphucking
Sales will never meet expectations at MOA - It would take 10 years to double in revenue - too long. The current plan is to make the company slightly profitable so Empower considers MOA a good takeover target. Stephen Rich takes the proceeds from the sales and expands the Capital Management side of the business. He’s basically a hedge fund type manager anyway.
This is the plan like it or not.
- No sheep is safe with Mehdi Malaki around.
@rw 8 downvotes so far ! 🤣
@ts you forgot Moriarity & Bailey. Explain why do they get a free pass and are always spared ? Hows about Gregory & Johnson ? Are they not complicit as well in the field’s continued poor performance ? Why are they never held to account ? Schnieder & Alvarez don’t contribute either.
@rw just upvoted this. logged back in, changed my mind after telling my CRM, and then changed my vote to a down vote.
@rw I am no longer with MOA. i was laid off two years ago. So, My job was eliminated. Does that answer your question ?
@ts being forced to train indians in a faraway land when they don’t have any real skin in the game and the only reason why the firm hired Accenture is that Accenture is the master of the sales presentation. Pay them 30% less than what we made w/50% less productivity using an old outdated legacy omni system and then net benefit will be continued net client losses. In 18-24 months, how many $1M-+ plans did we lose versus how $1M+ plans did we gain ? If the trends continues to bleed negative, the move to Accenture costs way more than it saved.
@rw would have something to do with the current job market being quite bad. Many of the employees are near retirement age and know they are now unemployable at other firms. Younger employees who are part of the up and coming layoffs will probably be in a much much better place once they actually break through into a new role and company, just will take a long time given the current market. Work life balance at a lot of these admin ops roles have shifted into a borderline abusive dystopian workload. For the employees getting laid off if you do read this: I am very much upset that you have to go through this and the job search may be harder than ever, but in the long run I am so happy that you are getting out of this place and can fly far far away to a place that will pay you what you are worth and treat you with respect. MOA should be ashamed at themselves and I don't care who you blame: Greed, Sevrin, Rich, Favors, Board, etc they all are horrific leaders and all played a role in the fall of MOA. Shame on them all.
@qs
Almost all negative posters are stating they are fed up with MOA.
They say Management does not care about employees,fed up with reduction of benefits ,low pay,poor management,end is near for MOA,no future, extreme nepotism etc.
So the question is why are they still staying at MOA, makes you wonder.
Answer they have it easy there, obviously. All they have to do is show up and get paid with a poor work perfomance!
Watch how many down votes this gets!!!
@kb the firm has done a piiss poor job of throwing us a bone w/actual meat on it. Self Directed is the bone with meat we need. I am hungry for change & employees are rip shiit pi---d about the benefit cuts.
Being that many of us are low paid and the Executive in Charge of HR & Benefits has done extraordinarily little to enhance our benefit package over the years, the very least, I mean the least, the company could do is to offer a self directed brokerage window ! That way, I can invest in Apple, NVIDIA, Amazon, etc directly without having to invest in an underperforming sheety mutual fund where 400 of the funds constantly under perform while maybe, just maybe, 100 are producing any kind of alpha. i want to MAKE $$$$$. Allow me the opportunity to do so.. you pay us so little, at least give us an outlet to have an opportunity to double our $$$$$ w/a Self Direct Brokerage. Stocks, Bonds. ETF & best in breed mutual funds. No limited partnerships, etc….after that lawsuit a few yrs back, the company has done very little to actually enhance the 401k & benefit package.
@hb not only the group annuity platform. Many on the Wilshire arrangement aren’t that much better. With only like 300 funds to pick from, the line up for fiduciaries are better than GA but not great. Empower & Fidelity, Voya, have like 3,000. Granted that is excessive but many Best in Breed funds are left out of Wilshire b/c it costs a shiit ton to add to platforms, line ups, & then you have the fund minimums which are a royal pain ! Often have to jump through hoops on these funds & it is expensive & timing consuming.
Best think MOA needs to do RIGHT NOW to raise REVENUE is to add Managed Accounts, In Plan Annuity Option, Surrender Charges, CITs, and Brokerage Account windows ! Company is scared to raise revenue. Resorts to constant cuts.
We need new leadership.
@et look at Morningstars analysis of the funds in the group annuity platform line up just this year. The vast majority are in the bottom half of their peer percentile ranking. Many are in the bottom 25% ! However, for years, Capital Management has been completely insulated from layoffs. On fact, they received quarterly incentives, Big Titles, high pay — all while the rest of the hard working low paid “high skilled” rank and file employees constantly get blamed, fired, laid off, and disciplined. It’s outrageous but what can one do ?
@e1 anyone that has any brains or real inside info already knows where they should keep their money. And MOA products is NOT the right answer