Compare: wirehouses, regional, banks

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Jan 15, 2007 5:05 pm

Can someone explain, or point me in the right direction, as to the differences between the large wirehouses (ML, MS, UBS, etc), regional firms, and banks.  I would like to know what are the stregths and weaknesses of each and what each bring to the table for someone relatively young who is looking to get into the industry.


I'm sure this has been asked before but i didn't see it when i searched.  Thanks.

Jan 15, 2007 6:06 pm

What terms did you search on?

Jan 15, 2007 6:21 pm

They are all exactly the same.  Pick the one that has the coolest sounding name and the hottest receptionist at the front desk.

Jan 15, 2007 7:40 pm

"They are all exactly the same. Pick the one that has the coolest sounding name and the hottest receptionist at the front desk."



Comments like those are why you are the MAN, JoeDaMan....

Jan 15, 2007 8:29 pm

Don't forget about the slickest logo.

Jan 15, 2007 8:36 pm
blarmston:

"They are all exactly the same. Pick the one that has the coolest sounding name and the hottest receptionist at the front desk."



Comments like those are why you are the MAN, JoeDaMan....



LOL...there is a kernel of truth in my sarcasm, in the sense that-in my humble opinion only-most of the majors and near-majors have about the same capabilities and same 'decent' reputation....ones chances of success are far more dependent upon one's efforts and abilities, and to a lesser extent the support of the branch manager and mentors, not the name on the front door.

Oh, and the hot receptionist never hurts with the dirty old men with big IRA rollovers....

Jan 16, 2007 12:31 pm

Joe is funny, but anyway . . .


You have to go to the firm where you have the greatest chance of success.  Places like RJ, AGE, have great training programs and they are geared toward investors with $500,000 to $10m in assets.


SB, ML are geared toward investors with over $10m to invest.


Do you know these types of people?  Will they give YOU their precious money??????


Don't waste your time on places like Ameriprise which are just going to get all the accounts of your family and friends and then let you go.


BEST IDEA, see if you can get hired as a junior broker somewhere to learn the ropes and loose the fur on your antlers.

Jan 16, 2007 3:55 pm
vbrainy:

SB, ML are geared toward investors with over $10m to invest.



Jan 16, 2007 4:59 pm

....ones chances of success are far more dependent upon one's efforts and abilities, and to a lesser extent the support of the branch manager and mentors, not the name on the front door.

Oh, and the hot receptionist never hurts with the dirty old men with big IRA rollovers....
[/quote]


 


 


Its been said over and over here; in the end it all boils down to how much effort you put into it. And while everyone is wasting time with the receptionist, do not overlook the 50+ lady who knows everything that is going on in the office. She can give you more helpful advise about getting around the office politics. Most trainees treat her like she is invisible; you will be well rewarded if you take this advise.  Not the same rewards as you may expect from the receptionist; more money in your pocket and a happier wife or girlfriend are reward enough. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />



Jan 16, 2007 5:57 pm
vbrainy:

Joe is funny, but anyway . . .


You have to go to the firm where you have the greatest chance of success.  Places like RJ, AGE, have great training programs and they are geared toward investors with $500,000 to $10m in assets.


SB, ML are geared toward investors with over $10m to invest.


Do you know these types of people?  Will they give YOU their precious money??????


Don't waste your time on places like Ameriprise which are just going to get all the accounts of your family and friends and then let you go.


BEST IDEA, see if you can get hired as a junior broker somewhere to learn the ropes and loose the fur on your antlers.



Vbrainy I may be sarcastic and occasionally sarcastic, but at least I'm not ignorant like you....

SB and ML geared towards investors with over 10 mil to invest?   That's a good one.  Of course their advisors would love to have someone with that much to invest(not to mention their branch managers), but I would hardly describe that as their target market.  You need to get yourself in better touch with the realities of the world.

I will continue to maintain that a firm with a 'better reputation' (especially in your local market) may give you a bit of an edge, but largely it is your individual actions that determine your success.

But then again you know it all, so who am I to disagree with you.....?

Jan 16, 2007 6:10 pm
joedabrkr:
vbrainy:

Joe is funny, but anyway . . .


You have to go to the firm where you have the greatest chance of success.  Places like RJ, AGE, have great training programs and they are geared toward investors with $500,000 to $10m in assets.


SB, ML are geared toward investors with over $10m to invest.


Do you know these types of people?  Will they give YOU their precious money??????


Don't waste your time on places like Ameriprise which are just going to get all the accounts of your family and friends and then let you go.


BEST IDEA, see if you can get hired as a junior broker somewhere to learn the ropes and loose the fur on your antlers.




Vbrainy I may be sarcastic and occasionally sarcastic, but at least I'm not ignorant like you....

SB and ML geared towards investors with over 10 mil to invest?   That's a good one.  Of course their advisors would love to have someone with that much to invest(not to mention their branch managers), but I would hardly describe that as their target market.  You need to get yourself in better touch with the realities of the world.

I will continue to maintain that a firm with a 'better reputation' (especially in your local market) may give you a bit of an edge, but largely it is your individual actions that determine your success.

But then again you know it all, so who am I to disagree with you.....?


RELAX, take a deep breath, breathe through your nose.  Take your head out of your a**.


If you did not get the gist of what I was trying to say, perhaps I did not make myself clear.


You have to know people with money to invest.  And yes, Merrill and Smith Barney have LARGER account sizes than RJ or AGE, just check the stats.


was 10 million too high, oh well.  even I can get juiced every once and awhile.

Jan 16, 2007 6:11 pm
vbrainy:
joedabrkr:
vbrainy:

Joe is funny, but anyway . . .


You have to go to the firm where you have the greatest chance of success.  Places like RJ, AGE, have great training programs and they are geared toward investors with $500,000 to $10m in assets.


SB, ML are geared toward investors with over $10m to invest.


Do you know these types of people?  Will they give YOU their precious money??????


Don't waste your time on places like Ameriprise which are just going to get all the accounts of your family and friends and then let you go.


BEST IDEA, see if you can get hired as a junior broker somewhere to learn the ropes and loose the fur on your antlers.



Vbrainy I may be sarcastic and occasionally sarcastic, but at least I'm not ignorant like you....

SB and ML geared towards investors with over 10 mil to invest?   That's a good one.  Of course their advisors would love to have someone with that much to invest(not to mention their branch managers), but I would hardly describe that as their target market.  You need to get yourself in better touch with the realities of the world.

I will continue to maintain that a firm with a 'better reputation' (especially in your local market) may give you a bit of an edge, but largely it is your individual actions that determine your success.

But then again you know it all, so who am I to disagree with you.....?


RELAX, take a deep breath, breathe through your nose.  Take your head out of your a**.


If you did not get the gist of what I was trying to say, perhaps I did not make myself clear.


You have to know people with money to invest.  And yes, Merrill and Smith Barney have LARGER account sizes than RJ or AGE, just check the stats.


was 10 million too high, oh well.  even I can get juiced every once and awhile.



Yes Merrill and SB and UBS have larger average account sizes, but 10 mil was WAY off.

Quite likely, too, that "average" is skewed by a select group of clients at the high end.

Jan 17, 2007 6:16 am

Bottom Line : You make your own future .. as long as it is not some boiler room you should be ok...  IMHO!

Jan 18, 2007 5:21 pm

Thanks for the responses...agreed, you make your own career, but point taken in difference between RJ/AGE and ML and SB.