Related Posts
Lol shots fired
Anonymous User
More Posts
Tinder vs Linkedin
Additional Posts in Finance
What's your morning commute reading material?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
You’re definitely valid in feeling blindsided. I wouldn’t even put too much focus on why or the fact that there was no PIP or that you hadn’t even completed training… I think a termination that fast is a reflection of a flat out just poor hiring decision or changing business needs or any number of reasons that have absolutely no reflection on you and your skills and capabilities.
Right now I know you’re worried about your U5, but try and put it out of your mind until after it’s filed and you get access to it and you can see what it actually says. If it says anything other than “discharged” or “ performance didn’t meet expectation”, then we can start to worry and start talking about lawsuits but honestly, I think that one 6 week blip after otherwise strong and stable career will likely be viewed as an outlier to companies as you are interviewing for your next role.
I’m sure you are but, just start applying to places right away and focus on having a good explanation ready for when prospective recruiters and employers inevitably ask. Don’t overshare or overexplain.. say something like.. “Unfortunately the role wasn’t the right fit and the company decided to end employment during the onboarding period while I was still in training. Prior to that, I had an eight year successful career and strong performance history, and I’m excited to bring that experience to my next opportunity.”
Anyway, I’m sorry you’re going through this. I am a firm believer in redirection. Perhaps this termination was protecting you from something. I bet once you land in your next role… after six months, you’ll circle back to this post and tell us all how amazing it is and how happy you are. I’m manifesting that for you!
Thank you so kindly for the encouragement. I really appreciate this. I have worked so hard to get to where I am. I do find it counter to regulation that someone can demolish someome career before they have really started, and hopefully someday I get to the other side of this and have the opportunity to make a change in how things like this are managed from the FINRA side.
Thank you for all of your kind and helpful words EA 2.
Perhaps talk to an employment lawyer.
Definitely file for unemployment, also.
Sorry you’re going through this. ✨
Thank you, I appreciate the support sincerely.
Could be wrongful termination… were you threatened in any way or forced to resign? That would be a stronger case…
This happened to me, but it involved a skip-level manager, whom I only met once, threatening to mark my U4, which has the power to ruin my career… I started by calling the ethics line or employee assistance… i was assigned a case manager… they offered me $40K as a severance… i got them up to $250K… my situation may be the exception, not the rule, but its worth a shot…
I’d see what the firm says and offers before going the attorney route… if they take the case at all, it will be on contingency, so it’s going to cost you 1/3 of your settlement, but you’re responsible for the income taxes on the whole thing… so in my case on the $250K, I would have only netted $100K (after taxes)…
No problem… not necessarily… I called them the same day that I was forced to resign… it takes a little while for your U5 to be filed and received…
I would call first thing on Monday to make them aware of your situation as they’ll need to investigate the situation, and speak with all parties involved… fortunately my situation was corroborated by my manager because she was there when it happened and was completely blindsided as well…
Once you have a case agent assigned, I would write up a recap, so it’s on paper to ensure clarity… I also wrote a formal complaint detailing everything… documented everything with a formal timeline… stayed on them if I didn’t hear anything after 7 business days from last correspondence…
Put your lawyer cap on and fight… most firms are binding arbitration anyway, and like I said an attorney is going to take 1/3, and typically don’t want to go after major corporations…
Let me know if you have any other questions… I’m happy to help…
If it was for “performance” then someone must have said something to you on the daily. The company I work for just had a similar situation and the person who was terminated was told DAILY about mistakes and to reference notes they were given and that they made and they IGNORED all of that. And I don’t think there is a need for a PIP if you are still on the 90 day probationary period. Also, if you are not performing satisfactorily in one system why would they give you access to more….you have to crawl before you walk….get the one system down and then they will move forward with others.
EA1 - what are you talking about?
I agree 100% in that everything happens for a reason and that you’ll look back and see that you’re in a better place even if it does take some time in between. Hopefully you get unemployment since they fired you not of your own doing. I had this happen once where I was blindsided. Turned out that I was just the first of many layoffs throughout my department. It was a last in, first out situation. They told me o was being fired for lack of production but it was not true. I went to see a local employment lawyer and he didn’t feel I had a case due to my state being an at will employment state but in hindsight, I would have never moved up quickly there and was a bad bank that eventually sold. My advice it to keep your head up and try to not let it affect your self worth. It likely had nothing to do with you but was internal issues. Good luck!
Thank you, I am happy to hear you overcame that successfully. You deserve that.
Was there any red flags you noticed? How long were you at your previous role before moving to this new opportunity? Was this a promotion, or what was the main purpose to take this role? Money? Title?
I was with FINRA for 3 years and took the voluntary buyout when they went through their RIF. I took another role out of necessity and was there for a year but saw it as a stop gap as I never anticipated leaving FINRA. A recruiter reached out to me with this role with a title and compensation and possibles that I thought would be push me in the trojectory I have been hoping for, unfortunately I made a bad call. I should have thought this through more deeply. I accept that I made a poor decision which is costing me greatly.