Morgan Stanley Smith Barney Process to Hire?

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Jun 30, 2009 9:49 pm

Had first interview with local branch manager today and things went well.  Going in next week for aptitude test and personality test - what should I expect from these tests?  Sounds like I would meet with a few of the financial advisors in the branch after that to give the branch manager a second opinion - if everything goes well - how long until the offer shows up? 

 
 
Jul 1, 2009 12:10 pm

Hi Ohbrother1, I went though all those processes over the past two weeks and during my interview with the Branch Manager and 2 other FA's i was verbally offered the job, i followed up with a thank you email and got a telephone call from the MSSB recruiter who found me and he said that the BM loved me and a very nice offer was in the process of being drafted and sent out, It has been a week now, I dont know if i should call or just keep sitting on my hands.  I have a good relationship with the recruriter and he said to sit tight, I am quite anxsous to get started but will keep you posted on my progress.

As for the tests, they are simple personaltiy tests and the other is a sample  basic series 7 test, it tests basic math and logic, they want to make sure that you will be able to pass the 7 so this test i guess is a good indicator if you will. Good Luck!


Jul 1, 2009 2:51 pm

How long was it from application til their first contact call?

Jul 1, 2009 3:22 pm

The process could take a while. Isn't just up to the branch manager, must go up the chain of command to get approval. In my case I was hired, but couldn't start for two months because they weren't having a training class for those two months.


Have they discussed you being on a team? I was under the impression they were only hiring FA's at the current time that were going to be working on a team.
 
Jul 1, 2009 5:20 pm

Yes, they are hiring me on to a team, SB0807 did you just get hired under the new MSSB platform or the old MS or SB? I don't think that they have a training date set for the new MSSB, but from the job boards i can see that they are really actively recruiting. 

Jul 1, 2009 5:56 pm

Actually got the call from Branch Manager himself after he looked through about 20 resumes on the MSSB website. He did mention being hired into a team which I'm okay with - asked him about branching out later from the team method and he said it's certainly doable. I thought the base salary questions were gonna come later but he asked me upfront what I'm looking to make.

Jul 3, 2009 10:22 pm

Are you working with a Morgan Stanley Branch or a Smith Barney Branch....have they consolidated processses yet, or are they still separate...looks like their websites to apply are very different.

Jul 4, 2009 10:33 am

I am working with a MS branch, I do not think they are hiring on smith barney platform anymore, I know a few guys who work for smith barney here in Manhattan and there platform for new business has been changed but they are still servicing old clients using the old platform. 

Jul 6, 2009 6:49 pm
akmpres:

Yes, they are hiring me on to a team, SB0807 did you just get hired under the new MSSB platform or the old MS or SB? I don't think that they have a training date set for the new MSSB, but from the job boards i can see that they are really actively recruiting. 

 
I was hired on the Smith Barney side. In production 1 year now. I'm not sure exactly but I think they still have the separate training programs for the time being. It may be a year or more before everything is completely merged together.
Jul 8, 2009 11:20 am

Took the tests Monday and did excellent on the numbers and logic but bombed sales aptitude test - got an average grade - not the highest, not the lowest - don't know how much stock they put into the tests but hope that doesn't affect me too much - I have 10 years of sales experience - branch manager wants me to meet with another FA and I assume I'll find out soon after that if I'll be offered position

Jul 9, 2009 9:17 am
ohbrother1:

Took the tests Monday and did excellent on the numbers and logic but bombed sales aptitude test - got an average grade - not the highest, not the lowest - don't know how much stock they put into the tests but hope that doesn't affect me too much - I have 10 years of sales experience - branch manager wants me to meet with another FA and I assume I'll find out soon after that if I'll be offered position




That's good! Were you given the business plan to fill out yet? That will be the next step.

Jul 9, 2009 4:05 pm

akmpres:

 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware.
Jul 9, 2009 4:24 pm
Greenbacks:

akmpres:

 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware.



Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.

Jul 9, 2009 6:51 pm

Anyone know if the SB & MS hiring process is still operating separately? I am considering making a move, but found out that my old boss at MS is a regional dir now. He was pissed when I left in 2001 and might put the kybosh on any deal I make if he gets wind before I move. I am in a different city, but I believe he is over the entire state now. If they are not fully merged yet, I might consider an offer from them.

Jul 10, 2009 6:20 am
akmpres:
Greenbacks:

akmpres:

 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware.



Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.



I wouldn't worry so much about the BM taking advantage of you. Costs 90k plus salary and benefits over 2 years. Not exactly something a BM wants to see on the P&L if there is no long term potential.
 
Personally I would be more worried about being hired on a team and just being used as a glorified CSA. I've heard many stories of trainees thinking they were getting a good deal by starting out on a "big" team. Only to shortly be out of the business because the partnership was disadvantagous to them.
Jul 10, 2009 7:33 am
SB0807:
akmpres:
Greenbacks:

akmpres:

 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware.



Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.



I wouldn't worry so much about the BM taking advantage of you. Costs 90k plus salary and benefits over 2 years. Not exactly something a BM wants to see on the P&L if there is no long term potential.
 
Personally I would be more worried about being hired on a team and just being used as a glorified CSA. I've heard many stories of trainees thinking they were getting a good deal by starting out on a "big" team. Only to shortly be out of the business because the partnership was disadvantagous to them.




Another very good concern, I got my welcome package this week but no solid offer letter, so i don't know how long that is going to take, i am curious to see my base salary and my contract with the team.

Jul 10, 2009 11:36 am

Just got my rejection email from MSSB. Man that sucks. Oh well on to the next one.

Jul 10, 2009 12:09 pm

What's in the welcome package if not the actual offer?

Jul 10, 2009 12:58 pm
ohbrother1:

What's in the welcome package if not the actual offer?




benefits, mission statement, hand book, code of conduct stuff, letter from Mack welcoming,

Jul 12, 2009 10:47 am

I think the hiring process is still separate - I got a rejection email from Morgan Stanley last week but am pretty deep into the process with Smith Barney - met with BM, have taken the tests, met with one of the Senior FAs with another meeting scheduled next week with another of the FAs.