Good riddance! One less ‘misbehaving participant’ in the financial marketplace will improve public opinion of insurers to a small degree, even if their insurance operations weren’t involved in their unethical behavior. It may have been that a study indicated changing the name of their insurance ops wouldn’t disassociate them with their crooked counterparts.
I hope their workers find jobs in the insurance industry, and no stigma is associated with them due to their counterparts’ in other WF profit centers’ misdeeds.
Pretty simple explanation on this – the majority of us don’t like banks well enough to patronize them for anything other than banking services. And we only do this because we have to.
Sell, sell, sell – that’s all that corporate management cares about today. Whether it banking, companies like Wells Fargo or
insurance, companies like Farmers Insurance – all management wants to see is sales. PERIOD!!! Who cares about the customer after the ink is dry. Corporate management should be ashamed of themselves. My heart goes out to those poor employees at Wells Fargo who were fired because of the greed at the top. Management demanded sales and turned a blind eye to everything.
Sell, sell, sell – that’s all that corporate management cares about today. Whether it banking, companies like Wells Fargo or
insurance, companies like Farmers Insurance – all management wants to see is sales. PERIOD!!! Who cares about the customer after the ink is dry. Corporate management should be ashamed of themselves. My heart goes out to those poor employees at Wells Fargo who were fired because of the greed at the top. Management demanded sales and turned a blind eye to everything.
Fed Up, having a bad day posting twice? There is nothing at all wrong with selling, but it should be done ethically. Wells Fargo must have had some very bad management and they should be gone for their behavior.
The buck always stops with the lowest man on the totem pole, not at the top as all management would have everyone believe,—and the lowest man on the totem pole has no golden parachute(mailroom gofer, janitor—etc.).How many companies in this country have closed or have been forced into mergers, Bankruptcy & forced sales due to some hot shot miracle working new CEO & his team & crony appointed board of directors? The expense ration is the first indicator of too many overpaid managers.
Please do not show your ignorance by projecting unethical / sleazy behavior of not-Wells Fargo onto an entire group of people called ‘management’. Please do not generalize through use of phrases like “all (implied by the context) management”. Please continue to post such erroneous thoughts for all (implies all who bother to read your post) to read.
Actually, I think George is correct in his assessment. Unfortunately, the buck does usually stop with the lowest man on the totem pole. It is not supposed to be that way but many times it is. What is unethical about what he wrote? He did not call anyone names? The fact is he kept his language very clean to get his point across. In most companies, sales are the key important piece. It does not matter what it cost. Now, the fact that it took an inquiry for them to discover that the employees were using false accounts to find this is surprising giving the fact that in the insurance business each account is Underwritten or it is supposed to be underwritten. So the real question comes, who in management allowed it? Not all of management but someone knew what was going on and was okay with it. That is the unethical part. Posting one’s opinion while not using bad language is quite ethical.
Fed Up actually fairly accurately describes the insurance sales cultures today at too many firms — not much organic growth or chitty rates but make your ‘numbers’ or you’re corporate ‘toast.’
The managers often don’t care if there is any potential profit in the sale – let’s just win a trip or sales banquet invitation. Ins journal recently reported (print magazine)the companies that do the most advertising and don’t have agents are the most profitable.
The lies told in this industry to prospective agents is beyond comprehension.
This industry is not for everyone. It looks a lot easier from the outside.
If it were easy everyone would succeed in this industry. It is not easy, fast or for the undisciplined. Insurance sales is serious business and only serious people have a chance at success.
Good riddance! One less ‘misbehaving participant’ in the financial marketplace will improve public opinion of insurers to a small degree, even if their insurance operations weren’t involved in their unethical behavior. It may have been that a study indicated changing the name of their insurance ops wouldn’t disassociate them with their crooked counterparts.
I hope their workers find jobs in the insurance industry, and no stigma is associated with them due to their counterparts’ in other WF profit centers’ misdeeds.
Well, I think the reputation is in the toilet now with all the misdeeds brought on by management. Who would buy anything from this outfit?
Pretty simple explanation on this – the majority of us don’t like banks well enough to patronize them for anything other than banking services. And we only do this because we have to.
Sell, sell, sell – that’s all that corporate management cares about today. Whether it banking, companies like Wells Fargo or
insurance, companies like Farmers Insurance – all management wants to see is sales. PERIOD!!! Who cares about the customer after the ink is dry. Corporate management should be ashamed of themselves. My heart goes out to those poor employees at Wells Fargo who were fired because of the greed at the top. Management demanded sales and turned a blind eye to everything.
Sell, sell, sell – that’s all that corporate management cares about today. Whether it banking, companies like Wells Fargo or
insurance, companies like Farmers Insurance – all management wants to see is sales. PERIOD!!! Who cares about the customer after the ink is dry. Corporate management should be ashamed of themselves. My heart goes out to those poor employees at Wells Fargo who were fired because of the greed at the top. Management demanded sales and turned a blind eye to everything.
Fed Up, having a bad day posting twice? There is nothing at all wrong with selling, but it should be done ethically. Wells Fargo must have had some very bad management and they should be gone for their behavior.
The buck always stops with the lowest man on the totem pole, not at the top as all management would have everyone believe,—and the lowest man on the totem pole has no golden parachute(mailroom gofer, janitor—etc.).How many companies in this country have closed or have been forced into mergers, Bankruptcy & forced sales due to some hot shot miracle working new CEO & his team & crony appointed board of directors? The expense ration is the first indicator of too many overpaid managers.
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Actually, I think George is correct in his assessment. Unfortunately, the buck does usually stop with the lowest man on the totem pole. It is not supposed to be that way but many times it is. What is unethical about what he wrote? He did not call anyone names? The fact is he kept his language very clean to get his point across. In most companies, sales are the key important piece. It does not matter what it cost. Now, the fact that it took an inquiry for them to discover that the employees were using false accounts to find this is surprising giving the fact that in the insurance business each account is Underwritten or it is supposed to be underwritten. So the real question comes, who in management allowed it? Not all of management but someone knew what was going on and was okay with it. That is the unethical part. Posting one’s opinion while not using bad language is quite ethical.
The banking side of Wells Fargo opened false accounts, the insurance brokerage wasn’t involved.
Fed Up actually fairly accurately describes the insurance sales cultures today at too many firms — not much organic growth or chitty rates but make your ‘numbers’ or you’re corporate ‘toast.’
The managers often don’t care if there is any potential profit in the sale – let’s just win a trip or sales banquet invitation. Ins journal recently reported (print magazine)the companies that do the most advertising and don’t have agents are the most profitable.
The lies told in this industry to prospective agents is beyond comprehension.
This industry is not for everyone. It looks a lot easier from the outside.
If it were easy everyone would succeed in this industry. It is not easy, fast or for the undisciplined. Insurance sales is serious business and only serious people have a chance at success.