Credit Suisse FB

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May 23, 2006 8:43 pm

Give me the low down on this firm?

May 23, 2006 8:47 pm

Make it a twofer; anybody heard of this outfit:

http://www.nkstock.com

May 23, 2006 8:48 pm
Slim2None:

Make it a twofer; anybody heard of this outfit:

http://www.nkstock.com



correction

http://www.eknstock.com

May 23, 2006 10:59 pm

I like and use CSFB research...don't know about life on the inside, though.

May 24, 2006 1:33 am
Boomer:

Give me the low down on this firm?



Most of the brokers are MBAs from business schools like Yale, UTexas. No CFPs or CFAs.


Tends to see itself as being way above the wirehouses.


Firm had about 250 brokers as of last year.


Not a planning-oriented firm. Nothing but investments. Planning resources consist of one estate planning attorney to consult for clients for each region (one for the west coast - about 1 for every 150 brokers or so) and that's about it.


Ave assets were $125 million or so and average production was in the $850k range. Incredible access to syndicate - 1200 or so shares of every deal. 8% allocation of every deal to retail.


No checks to come over - just salary for a couple of years.


REALLY impressive management. I MEAN REALLY IMPRESSIVE. Manager for the office was a former $3million producer at Goldman and had an MBA from Stanford.


Seemed like times were hard there...


About a year ago CSFB was rolled into just CS and the Private Client Group is now Private Bank - don't know what that really meant, but the Private Bank did buy up a number of wealth management boutiques in 2001-2 (Frye-Louis in Chicago and a couple of other firms in the East) and ran the platforms separately (really separately) for a couple of years. Now they've rebranded these firms "Family Wealth".


Definitely a very cocky firm.... Mostly young, frat boys and guys that seemed like they'd been the business for a LONG time.

May 24, 2006 7:17 am

Care should be taken to realize that San Francisco is talking about CSFB, but the question asked was about Ehrenkrantz, King, Nussbaum which is 180 degrees different from CSFB or whatever they're calling themselves now.

May 24, 2006 9:18 am
Big Easy Flood:

Care should be taken to realize that San Francisco is talking about CSFB, but the question asked was about Ehrenkrantz, King, Nussbaum which is 180 degrees different from CSFB or whatever they're calling themselves now.


Correct, I was referring to the subject title of this thread and the first question that was asked.

May 24, 2006 10:30 am
Boomer:

Give me the low down on this firm?



I worked for DLJ and then CSFB as a registered sales assistant straight out of college.  The majority of the brokers were doing at least a million plus.  Average account size was mid 7 figures, actually saw a few hundred million dollar accounts and one billion dollar account.  Most of their clients were officers of technology companies in <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Silicon Valley.  The 4 brokers who I supported were rookies doing about $375,000 GDC and were on thin ice.  <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


You need to be able to sell yourself to the ultra wealthy.


May 24, 2006 4:44 pm

Any other insight into Credit Suisse?


What is their "rep" on the street?

May 24, 2006 9:28 pm

have a ivy league degree or dont apply

May 24, 2006 9:40 pm

How 'bout if I paid for one for one of my kids? That count?

May 24, 2006 10:19 pm

would this be a good firm to get on with as a registered sales assistant?

Jun 8, 2006 11:50 am
Boomer:

would this be a good firm to get on with as a registered sales assistant?



I really enjoyed my experience, but since I didn't have an MBA from an IVY league school, I was stuck so I left the firm.

Jun 8, 2006 11:59 pm
Mike Damone:
Boomer:

would this be a good firm to get on with as a registered sales assistant?



I really enjoyed my experience, but since I didn't have an MBA from an IVY league school, I was stuck so I left the firm.



When I looked at the firm, most of the guys I met had respectable, but not elite school MBAs