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Citibank / citi personal wealth mgmt advisors

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Nov 7, 2009 1:49 pm

It’s amazing how one company can screw their advisors so thoroughly as citi has done over the past year. We ae the reason why the clients stayed throughout their turmoil, 5 bailouts, etc…

They have positioned it to were you really have no choice but to join teams of 7 or more reps, forcing you to share sensitive and confidential info with many other reps, can someone please explain How This is Legal and not being contested ?

Nov 7, 2009 4:52 pm
excitr1011:

It’s amazing how one company can screw their advisors so thoroughly as citi has done over the past year. We ae the reason why the clients stayed throughout their turmoil, 5 bailouts, etc…
They have positioned it to were you really have no choice but to join teams of 7 or more reps, forcing you to share sensitive and confidential info with many other reps, can someone please explain How This is Legal and not being contested ?

On the legal side, none of your 'confidential and sensitive' material is confidential from any member of the firm. It's confidential outside of the firm. So, even if you shared the information with every single member of Citi it wouldn't be illegal. It won't ever be contested because it's not against the law.   I'm amazed at how many people have no clue about the law then instantly become lawyers on the internet.
Nov 7, 2009 6:03 pm

Thanks for clearing that up, I never claimed to be a lawyer, that’s why I asked…if you were a client, would you want your rep to tell you, oh by the way, I’m joining forces with 7 other people and they will know your total net worth, you’d holdings, your annual income, etc… I don’t