Merrill, UBS, Smith Barney

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Dec 13, 2006 8:33 pm

I am a rookie and will probably get offers from all three of these firms. What criteria should I use to make the best choice between them? If you were starting in this business where would you start?

Dec 13, 2006 8:52 pm

Warning: That statement will be interpreted as arrogant unless qualified. Those firms are among the most difficult to get into.


That having been said: I would base my decision on the feeling that you get from the management team and the other employees of the branch office at which you would be working.

Dec 13, 2006 10:16 pm

What qualifications do you have to warrant offers from all three? Just curious.

Dec 13, 2006 10:53 pm

DMAN - there are an infinite number of threads on this topic.  I think the consensus is that you need to use your gut instinct and evaluation of the management to make the best decision you can.


The bigger decision is how long you are willing to pour your heart out to people telling you no most of the time.

Dec 13, 2006 11:58 pm
DMAN:

I am a rookie and will probably get offers from all three of these firms. What criteria should I use to make the best choice between them? If you were starting in this business where would you start?



Dude you're not even a rookie until you 1.) get the job 2.) pass your series 7, and 3.) open at least one account.  Until then you're pre-rookie.

Let us know if you really do get offers from all three.

Dec 14, 2006 10:05 am

Wachovia Securities is by far the best firm to work for if you are going to work for a wirehouse. I was with MS and have been with wachovia and I love it. Make sure to look into WS in addition to the other great firms you are loking at now.

Dec 14, 2006 10:15 am
keith121883:

Wachovia Securities is by far the best firm to work for if you are going to work for a wirehouse. I was with MS and have been with wachovia and I love it. Make sure to look into WS in addition to the other great firms you are loking at now.


Keith...please explain why (in your opinion) is Wachovia the "BEST" wirehouse to work for? I'm just curious to hear an insiders view.

Dec 14, 2006 10:24 am

Reg rep:


This was just my opinion, but I really do love this firm. In my branch management really goes out of their way to help the young guys like myself suceed. My experience at MS was not like that. In fact I have buddies in all the other wirehouses and none of them appear to have managers like I do. The other senior brokers in my branch are extremely knowledgable and helpful as well. Remember this is just my opinion but I really do love WS.

Dec 14, 2006 10:34 am

Thanks for sharing your views. Wachovia is generally rated pretty high around these parts. It will be interesting to see where your thoughts are after 5yrs or so. Hopefully you will continue to rate them so highly.

Dec 14, 2006 10:44 am

If I'm still here in 5 years it will be because of the help and guidance offered to me from WS management as  well as the senior members on my team. So I dont think my view will change, hey but you never know.

Dec 14, 2006 11:01 am

WS being the best? Lets not get carried away here folks. Im not sure if there is any signifigant differences between the top 5 firms. In my opinion and experience, I feel its the office you work at, that is the driving force in determining if one is better than another. In fact, all the firms provide the same service, same research and advice for virtually the same cost. At this point, folks should go with the online brokers... same difference.

Dec 14, 2006 11:19 am

In my market, Wachovia isnt even on the radar. I think I have competed against them ONCE in nearly 2 years. It was a corporate cash management account, and we beat them in terms of rates and the strategy we put together for the company.


Not saying its a bad firm, but its a second -tier firm ( below SB, ML, UBS) in my opinion.

Dec 14, 2006 11:19 am

Thanks everyone for all your input. Looks like the question isn't which firm to work for but which management to work for.

Dec 14, 2006 11:44 am
DMAN:

Thanks everyone for all your input. Looks like the question isn't which firm to work for but which management to work for.



IMHO, that really is the key, and that varies from region to region, office to office within firms. Top down, I'd go with ML first by a 1/2 a point over SB and 5 pts over WB.


YMMV.


Dec 17, 2006 12:30 am

If you get offers from all 3 you really would be DMAN.

Do you have big family money?