Best firms to work for over the long haul

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Feb 6, 2008 1:36 pm

I was a broker for A.G. Edwards for 5 years then moved to Prudential for 3 years, then left  to start my own business not related to the brokerage business. I sold my business and am getting back into the brokerage business and starting over as a trainee. I have offers from Morgan Stanley and Edward Jones. I need help deciding which will be the best choice for the long haul. Advise from brokers who know both systems would be very helpful.

 
Thanks,
 
Uncertain
  
Feb 6, 2008 2:08 pm

I work for EDJ, been here a long time and I love it.  There are several ex-EDJ people on the board who hate EDJ and will detail why.  Asking who is the best firm is like asking what actress is the prettiest.

Feb 6, 2008 2:22 pm

I am primarily looking at the two fims (MS and EJ) for the training, perks, benefits and the potential income over a fifteen year span. If my gross production was the same number at either firm, which would result in the higher payout over that span and create the better retirement. 

Feb 6, 2008 2:24 pm

They are the only two I have had offers from but only spoke with three firms. I have been out of the business for 5 years.

Feb 6, 2008 2:27 pm
uncertain:

If my gross production was the same number at either firm, which would result in the higher payout over that span and create the better retirement. 



If you look over the various posts you'll see the answer is pretty clear cut if that is your main concern.

I don't want to be perceived as a basher (I've never worked at either) so I'll let you look at a few threads.

Feb 6, 2008 3:58 pm

Personally, I don't think you could have pick two polar opposites better.. I work for Jones and wouldn't think to work for MS..

 
Miss J
Feb 6, 2008 4:02 pm

go with jones; they'll leave you alone to run your own show

Feb 6, 2008 4:14 pm
Best Payout for 2007
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Feb 6, 2008 4:18 pm

I would do Jones for th mandatory 3year sentence..once you are doing 300K+..go out on your own, you will have more freedom to do what is right for your clients, plus you will get a big raise.

Feb 6, 2008 6:08 pm

Thanks for the comment but why would you never work for MS?

Feb 6, 2008 6:10 pm

"here's a phonebook;goodluck"

Feb 6, 2008 6:29 pm

What about the 1 year non-compete clause they make you sign. How can you leave and take your clients with you?

Feb 6, 2008 6:30 pm
Interestingly enough, I am interviewing with both firms and with SB.  I can tell you that I ruled out MS and SB after the first interview.
 
I didn't enjoy the threatening, scare, intimidating tactics of MS ("you will perform after 3 months or you will be out the door--we don't need you"), along with the trainer who told me if I was one minute late, she would take my chair away.  I felt they also micromanage down to every second on your calendar. 
 


SB did not use the scare tactic, but I didn't like the fact that training was on my own and that I would not have a mentor.



 
EDJ, on the other hand, is treating me with respect, while giving me the positives and negatives of becomming a FA.  They have been nothing but encouraging and supportive. 
 
I vote for EDJ.  Hope this helps somewhat.  Good luck!
Feb 6, 2008 6:51 pm

youll sign one anywhere you go..so deal with it if an when it becomes pertinant

Feb 6, 2008 7:02 pm
henryhill:

I work for EDJ, been here a long time and I love it. There are several ex-EDJ people on the board who hate EDJ and will detail why. Asking who is the best firm is like asking what actress is the prettiest.





Salma Hayak, since you asked.

Feb 6, 2008 7:15 pm

I did get the same threats from MS about the short time frame to produce or your out the door. I know this is a tuff business and you have to work your but off for the first three years before you can go to the bathroom, but it is nice to have some support, training and guidence to be the best you can be. 

Feb 6, 2008 8:15 pm
Philo Kvetch:
henryhill:

I work for EDJ, been here a long time and I love it. There are several ex-EDJ people on the board who hate EDJ and will detail why. Asking who is the best firm is like asking what actress is the prettiest.





Salma Hayak, since you asked.





Good call. I second that.

Feb 6, 2008 10:24 pm

I stay start at EJ and do well---then you write your own ticket with flexibility to move "up" from EJ (or indy). Industry wide, a move from MS is considered a moved "down" unless to a few other firms. Plus, I think EJ probably has better sales training, which may or not be a big issue if you've done this before.



Although the "go where you want to end up" advice sounds nice, it is a reality that the vast majority of people in this business change firms at least once.

Feb 6, 2008 10:35 pm

Do you know anything about starting out at MS. It seems that a lot of people start and stay at EJ. Do you think it's because EJ is that great to work for or the brokers don't know the difference?

Feb 7, 2008 9:09 am
MISS JONES:

Personally, I don't think you could have pick two polar opposites better.. I work for Jones and wouldn't think to work for MS..

 
Miss J
 
How long have you worked for EJ and why do you feel so strongly that you would never work for MS?