Monday, August 10, 2009

1A) Boss is advising a client to transfer money from UTMA account to the gift giver. Comment: I have no idea why she's advising client PH to do this. Comment: Gifts are suppose to be irrevocable; hence, anything put into a UTMA is a gift. I hope the UTMA account holder does not come back to sue.
1B) My partner, HK, printed some stuff from the IRS.gov website and told the Boss the possible repercussions the minor could do down the road (ie. sue, etc.). Boss' response, "We don't care what the IRS says in this case." Comment: OMG.
2) In the meeting today, Boss continues to say that Compliance Department does not encourage correspondence to be handled in the form of e-mail. Comment: She's got it backwards, compliance DOES want representatives to perform correspondence via email. This way, it's easily traceable.
3) In the meeting today, Boss emphasized that the continuing education Firm Element needs to be done on personal time and not during work-time. Comment: I'm really shocked she even made an annoucement of this. The Firm Element is business related.