Friday, July 24, 2009.

1) So Boss' only client meeting was with the DW family. After the meeting, Boss told HK to do a 1035 Exchange on two of the existing annuities into a new annuity with new money. HK quickly told her, she could not do that, b/c both the existing annuities were qualified. So she just ended up creating a new annuity. Comment: why a client needs 5 different variable annuities is beyond me.

2) When filling out the application, HK noticed that the i4life that Boss was trying to set up didn't add up. HK went back to Boss to ask her the correct allocation. Boss gave her some numbers and they still didn't add up to the proper allocation of Bonds:Stocks. Comments: Boss couldn't add. This isn't the first time she's done this.


Thursday, July 23, 2009.

1) So we went to two audits today: Rep DR and BR. So today I had an opportunity to ask her some questions since she's always on the go and it's very difficult to find time to talk to her. So while I'm driving, I ask her about the Compliance E-Mail she received on the 17-July-2009 regarding that we have to send all incoming/outgoing correspondence items. So she asked me what do we have to send, and I told her that we need to basically send EVERYTHING (ie. statements, client notes, etc.) She got very upset in the car, because she said I should have asked someone in-house (eg. her) before I called Compliance. She was disputing that we do not need to send statements, because she argued that she did not have to do this and was told back in 1995. Comment: This is probably the main reason why I want to leave. If she wants me to help drive the Compliance Issues, how can I do my job if she's behaving on her own set of rules? One cannot evaluate on a case by case basis of what needs to be sent to Compliance. And what does Boss have to hide? What's the big deal on the documenation being sent to Compliance?

2) During the car she asked me if I printed the U-4's for the two reps. I told her that she didn't tell me specifically that they were needed for the audit. She says she told me (but, she didn't) and told me I had to figure out a way to get them. So we called the office and I spoke to HK to instruct her to send them to each of the reps. Boss told me to send both U-4's to rep DR. I asked her if that was okay, since we're sending a different U-4 to a different rep. She said it was fine. Comment: Well for starters, her instructions to me was very poor regarding having the U-4 in the file. And secondly, aren't there privacy issues about sending one's U-4 to another rep?