As the saying goes, ‘hell hath no fury like a woman scorned’. Today it sounds like the same can be said for an advisor scorned. Often times, when an advisor finally gets to a point where he/she is ready to depart their current firm, they’ve built up enough animosity that they can’t leave fast enough, and maybe, loudly enough.
That absolutely remains the case with several pockets of advisors that were fucked over by Credit Suisse in late 2015 and are still fighting legal battles for remuneration that they fiercely believe they are owed.
Here are a few comments from a group that is still engaged in litigation with Credit Suisse:
“They are fighting us in Chicago tooth & nail. I believe that their attorneys are paid by the word.”
”It’s a financial war of attrition. I’m out of pocket $200,000 in legal fees so far. Fuck them! Going to go the distance here.“
Emotions run high when advisors, who dedicate their lives, often times, to one or two firms, and then get bent over and told to spell R-U-N. Read that again.
Credit Suisse has been hot garbage for nearly a decade and yet continue to fight advisors for every penny in a geography and division where they no longer do business. So, yeah, fuck em’!