I am interested in working for wirehouse

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Aug 13, 2007 7:39 pm

but neither ML, UBS, or SB are hiring in my area. I would like some

suggestions as to what to do next. I have met with the managers of all 3

firms in person. There are a couple of smaller firms like RBC Dain and of

course EJ, NMFN, and then there are the banks. Should I try and get hired on

by one of the others and wait for an opening? If I do which is easier to get

out of and into the wire?

Aug 13, 2007 7:50 pm
strike3:

but neither ML, UBS, or SB are hiring in my area. I would like some suggestions as to what to do next. I have met with the managers of all 3 firms in person. There are a couple of smaller firms like RBC Dain and of course EJ, NMFN, and then there are the banks. Should I try and get hired on by one of the others and wait for an opening? If I do which is easier to get out of and into the wire?


"We're not hiring now" is the easiest way to turn somebody down.  The reality is that wirehouses are ALWAYS hiring if the prospect is loaded with promise.


What those who hear that excuse have to do is go about making themselves so attractive that the hiring manager cannot logically not hire you.


Try Dain, the reality is that at a branch office there is very little difference between regional firms such as them and the major national firms.


Failing that drop back and reconsider what is going on.  Being too young is often a pitfall.  In fact managers who hire really young people are fools--so give the calendar time to work its magic.

Aug 13, 2007 8:04 pm

I thought I had a lot to offer. Early 30's, plus I am on good terms with

construction supply companies around my area. An untouched market,

maybe for a reason.



Each firms has between 7-10 advisors and they simply said they did not

have an office.

Aug 13, 2007 8:07 pm
strike3:

I thought I had a lot to offer. Early 30's, plus I am on good terms with
construction supply companies around my area. An untouched market,
maybe for a reason.

Each firms has between 7-10 advisors and they simply said they did not
have an office.


Education?  First Impression?  Articulate?  None of the three had a bull pen area for newbies to work?

Aug 13, 2007 8:08 pm
strike3:

I thought I had a lot to offer. Early 30's, plus I am on good terms with
construction supply companies around my area. An untouched market,
maybe for a reason.

Each firms has between 7-10 advisors and they simply said they did not
have an office.


If you're gay enough to not use the search function for your answer, you're probably too gay for this business. Go away.

Aug 13, 2007 8:09 pm

Please understand that one of the "tests" a new person will have to go through is exactly this. It is no different than you, a new advisor, cold calling someone who says "I'm not interested" - what do you then do? They want to test your response - how quickly will you give up?



Really, think about it. The failure rate in our industry is exceptionally high. Even if they are completely full in their office, within the next 30 days rookies are going to either fail because they fail the securities exam, or fail because they do something stupid like getting drunk at their training in NY and showing up unfit for duty the next day (yes, it does happen!) or simply just behaving like a dirtbag or something.



Treat your pursuit of the firm exactly as you would treat your pursuit of a HNW individual - with care, respect, commitment, and follow up.



If you're giving up simply because the manager says "we're not hiring" you're simply not cut out for the business.



Best of success to you!

Aug 13, 2007 8:17 pm
madabroker:



If you're giving up simply because the manager says "we're not hiring" you're simply not cut out for the business.


I agree with that in concept--however for three managers to all use it tells me that it's more than a test to see if the applicant gives up easily.


Quite likely they, the managers, have been told that the firm is under a hiring freeze but all that really means is that the manager has to burn some political capital to buck the system a bit.


That said I think a SINGLE letter to the most attractive of the three firms would not hurt:


Dear Mr. Jones,


If I accepted the first no every prospect ever gave me I would not have succeeded as I have..........


From there be sure to lay out a business plan much like would be asked in a later interview.


Don't approach all three of the wires with that same letter, or even the same idea because if it doesn't work you'll want to do something different with the others.

Aug 13, 2007 8:32 pm

Thanks, I am not looking to give up and have contacted each several times.

Just wanted to hear some other, more experienced ideas. I will also try Dain.

Aug 13, 2007 8:34 pm
strike3:

Thanks, I am not looking to give up and have contacted each several times.
Just wanted to hear some other, more experienced ideas. I will also try Dain.


Did you find Bobby Hull's contribution to be valuable?

Aug 13, 2007 8:38 pm

Hey, DAtoo, how much gross production did you do today? That would be extremely helpful to all of us. It would also go a long way to showing what REAL qualifications you have on any of this (a Reg. Rep. chat)

 P.S. Your lie would be as revealing as the truth would be to those of us here actually succeeding in the business.

Aug 13, 2007 8:40 pm
YHWY:

Hey, DAtoo, how much gross production did you do today? That would be extremely helpful to all of us. It would also go a long way to showing what REAL qualifications you have on any of this (a Reg. Rep. chat)

 P.S. Your lie would be as revealing as the truth would be to those of us here actually succeeding in the business.


I did zero in production today--in fact, I'm zero year to date.

Aug 13, 2007 8:41 pm

There you all have it.
 Who knows what he thinks he's talking about, but it's not at all what the rest of us are talking about.

Aug 13, 2007 8:45 pm
YHWY:

There you all have it.
 Who knows what he thinks he's talking about, but it's not at all what the rest of us are talking about.


But I did increase the equity in my account by more than $2,500 today.


I'm too good to be in production--been there, done that, got the T-shirt.

Aug 13, 2007 8:47 pm
DAtoo:
strike3:

Thanks, I am not looking to give up

and have contacted each several times. Just wanted to hear some other,

more experienced ideas. I will also try Dain.



Did you find Bobby Hull's contribution to be valuable?





I just figured if he's in the business I must not be too gay.

Aug 13, 2007 8:49 pm
strike3:
DAtoo:
strike3:

Thanks, I am not looking to give up
and have contacted each several times. Just wanted to hear some other,
more experienced ideas. I will also try Dain.



Did you find Bobby Hull's contribution to be valuable?




I just figured if he's in the business I must not be too gay.


Good point.

Aug 13, 2007 8:50 pm

But I did increase the equity in my account by more than $2,500 today.


I'm too good to be in production--been there, done that, got the T-shirt.


Okay, so go post on a "day trader" website. Your condescending prickdom is misplaced on a site for (mostly young) actually practicing Reg. Reps (Financial Consultants, Financial Advisors, etc).

 P.S. So you made about 1/2 what I did today. Congrats!

 P.P.S. I can help you earn more, but the advice won't come cheap.
 

Aug 13, 2007 8:55 pm
YHWY:

But I did increase the equity in my account by more than $2,500 today.


I'm too good to be in production--been there, done that, got the T-shirt.



Okay, so go post on a "day trader" website. Your condescending prickdom is misplaced on a site for (mostly young) actually practicing Reg. Reps (Financial Consultants, Financial Advisors, etc).

 P.S. So you made about 1/2 what I did today. Congrats!

 P.P.S. I can help you earn more, but the advice won't come cheap.
 


Nah, I'll stay here.  If I left the average IQ of the board would end up less than the temperature of the outside air.


I'm having fun, if you don't like what I have to say you can skip it.

Aug 13, 2007 8:58 pm

The top producer who I know about made $40,000,000 last year.  How can one be too good to produce?


You sound like you are trying to impress us with your $2,500.  The problem is that if you have  $100,000 that is a great day.  Of course, this means that you've been a terrible investor the rest of your career.  On the other hand if you have $5,000,000, it would be a return of 1/20th of 1% which wouldn't warrant a mention, thus we can safely assume that your great career left you firmly in the middle class.

Aug 13, 2007 9:01 pm

 I just can't avoid hitting a Bull's Eye when one floats in from of me. you are such a colossal Boob that I can't not swing away.
 You're posting over 30 times a day here. Does that suggest something out-of-whack with you (as someone who is an order of magnitude smarter than everyone here)?

Aug 13, 2007 9:02 pm

I'm having fun, if you don't like what I have to say you can skip it.


What a fantastic retirement. If this is what I have to look forward to, then I am just going to cash out the IRA and 401K and head to the Rehab pool party at Vegas... Might as well have fun before my life is reduced to being a retired douche who has little else to do but post on an internet forum...