21 year old interning at smith barney

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May 19, 2006 3:17 pm

Ive been reading this message board for a while but have some questions


what is an IR


why are ml, sb, and ms called wirehouses? what is a wirehouse?


im graduating from a good univeristy in december, I am currently interning at smith barney with a top producer financial advisor #3 at our branch. I like it, it is very nice and fast paced and am learning a good deal from my FA and especially from you guys.


However, I want to check with you guys to see what else i can do?


is this a good start? should i be doing anything else? should i stick with smith barney?


i feel like i wont even be able to take any tests for a long time and am just wasting my time while i should be going after clients

May 19, 2006 3:32 pm

Is this your first day on the job?


Forgive me but you are no where near ready to be a rep.

May 19, 2006 3:53 pm

He's the coffee guy for the top producer. When he becomes the copier dude, he will find these things out for sure.  In the mean time, you just might want to do a google search for these terms and then quickly change your screen name.  Your post supports the notion that there is such thing as asking a dumb question, in your case, mulitple questions. 

May 19, 2006 4:18 pm
tripleswany:

  Your post supports the notion that there is such thing as asking a dumb question, in your case, mulitple questions.



May 19, 2006 4:25 pm

its been 1month. oh i know there is no way to become a rep now. but just wondering what are the steps to being a rep? and yes i am the copier, the stuffer, the every demeaning job, guy. I dont really mind it too much since I feel it as if I am paying my dues to be part of this profession. However, I just want to know what to do in my position, just do what I am told? any tips?

May 20, 2006 6:50 pm
brothaK:

Ive been reading this message board for a while but have some questions


what is an IR


why are ml, sb, and ms called wirehouses? what is a wirehouse?


im graduating from a good univeristy in december, I am currently interning at smith barney with a top producer financial advisor #3 at our branch. I like it, it is very nice and fast paced and am learning a good deal from my FA and especially from you guys.


However, I want to check with you guys to see what else i can do?


is this a good start? should i be doing anything else? should i stick with smith barney?


i feel like i wont even be able to take any tests for a long time and am just wasting my time while i should be going after clients



BrothaK...


Too many on here offer little, if any value in in their posts. They are too bsy makin asses of themsleves.


A few answers to your questions.


IR = Investment Representative


Wirehouse=refers to antiquted systems of long ago when trading was done by wire messages.  Today a wirehouse is one of the major stock brokerage hoses.  They call themselves other things...wealth managers, etc. Its all window dressing.


You are an intern.  OF COURSE all you are doing is grunt work.  You are not licensed or qualified to do otherwise.


What else can you do?  At SB, ML or any of the others, nothing except what you're doing now.  Gathering clients is absolutley NOT in the cards for you.


Keep your eyes open, listen and watch what is going on.  Believe what you see...not what you are told.


85% fail in this business. Period.  Work hard in college and pursue something in your degree field.


Good Luck


May 21, 2006 9:46 pm

OF COURSE FPro, he would learn a lot by watching and listening (great vaule in your post, work hard is also sound advice) but if he were able to ask better questions he would be able to learn a whole lot more.  so how would he be able to ask better questions? well one would do more good by pointing him in the right direction to find the answer to his questions then giving him the straightforward answer.   brotha, you can do a lot more than what you are already doing....ASK questions and pick the brains of those you work with.  this is one of the best ways of working an internship.  the other is to take on more responsibility (no i'm not talking about working OT at the copy machine).  sit in on consultations if you can, attend the presentations, ask to have a speaking role in the presentation (even if it is as little as introducing the dudes...that is if he does presentations), observe the angle the FA is taking and see what ways you can be more involved.  even if the FA keeps handing you more things to copy, continue to show enthusiasm and motivation to learn more.  never stop asking good questions. 


don't always believe what you see and question what you are told 



...back to making an ass of myself