Wednesday, July 15, 2009.

She's back from being gone 5 business days, so it's to no surprise that I'll have a bunch of items to add.

1) HK wrote out some balances for her regarding a client statement. Boss could not see them. So HK wrote it bigger (ie. numbers the size of double spacing) and Boss could still not read it, because HK wrote a 7 and Boss asked why she wrote a 1.

2) JR of BE came with his wife for a quarterly meeting. Boss was giving her pitch about American Funds New World Fund and said that they needed it in their portfolio. JR corrected her and said it is in the portfolio. Boss responded that they must have did this in the last quarterly meeting. Unfortunately, they've had the fund since October 2008. Comment: She should have reviewed the portfolio prior to the meeting, but she probably couldn't see it.

3) Boss was reviewing each of the funds and wasn't reading the funds correctly, so the client assisted and read off the names of each fund on their statement.

4) Boss comes to HK during a meeting to ask her to research some Dreyfus documents that client EW & Son brought. HK researches it and realizes it's just a notice regarding automatic deposits/withdrawals, dividend re-investment, etc. HK goes into the meeting and tells Boss what it is. Boss overreacted in her voice tone and told HK that is not what she asked for. She asked for HK to see if there were any transfers in front of the clients. Comment: this might have been a coverup in front of the client to save Boss embarassment from not being able to see.

5) Boss gives HK some paperwork to process. It's an EW American Legacy allocation. HK tells Boss that the policy is not set up and that they are waiting for the check to fund the policy. Boss scolds HK for not reading the client notes and that HK should have communicated that the notes to Boss prior to the meeting. Comment: HK and I rarely prep for a client meeting, because either Boss is to busy or there is really nothing outstanding/pending. Another thing to mention regarding inconsistency is that Boss' second allocation was different than the original allocation two months ago. Even if the paperwork was processed two months ago, has the clients objective changed that much to merit a re-allocation?