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Black Monday Memories: a fund salesman clings on

Black Monday Memories: a fund salesman clings on

While the funds industry was attacked by some for 'running and hiding' during the 1987 crash, this duty-bound fund salesman's efforts won recognition.  

The salesman writes: 'Remember it well. I had made the switch from Life and Pensions intermediary sales to investment sales four months earlier and joined the now defunct Murray Johnstone (taken over be Aberdeen several years later).

'I worked from home in York and had several appointments on the Monday.

'Out of courtesy I thought the best thing was to fulfil my appointments anyway.

'At the first call the broker came down to reception, looked at me in dismay and simply said "You must be joking".

'He then disappeared leaving me wondering if I should follow him or go. After several more minutes in his reception I decided to go. I then telephoned the rest of my appointments to say I was around if they still wanted to see me. Nobody did.

'I subsequently drove back home fully expecting to receive a call (this was before the days of email) to say my job was gone.

'Imagine my relief when the call from the deputy chief executive came to say:

'We don't fire people in panic Tony. Your job is safe. Just keep doing what you can and we will get through this'

'I loved my company for this and would have stayed forever if Aberdeen hadn't done the redundancy thing when they eventually took Murray Johnston over some 13 years later.' 

This comment was posted anonymously on this Wealth Manager article: Black Monday Memories: RLAM's CEO on lessons from his first bear market



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