Most "Prestigious" Firm?
OK, there are a lot of firms out there. All other things being equal, which of them would you say has the "best" reputation among people in the industry? How would you rank them, in terms of how exclusive and prestegious they are? If I wanted to work for the "Rolls Royce" of the industry, where do I go? Raymond James, Edward Jones, Morgan Stanley, Merrill Lynch, Wells Fargo, UBS, Ameriprise, etc. etc.? Does any company compile such rankings already? Let me hear your thoughts. Thanks.
Reputation and Prestige are 2 different things. For instance, Edward Jones has a great reputation among its clients, but is considered the Wal-Mart of brokerages in my opinion.
DTA is exactly right. There is a big difference between Reputation and Prestige. There are a few that fall into both categories, while some are mutually exclusive.
Prestige Category; J.P. Morgan, Goldman Sachs, Merrill Lynch, Morgan Stanley. These would be Prestige. Merrill has taken a big hit since the crash and takeover by BofA, but it's operations, assets, and practice is the same so it is recovering. Goldman and Morgan have taken a few dings... but who hasn't. The cleanest of the Prestige category has to be JP Morgan. It can thank it's CEO Jamie Dimon, strong capital reserves and limited downside exposure for that.
Reputation Category: Raymond James is a growing name (cheap fees and small local branches coupled with not being in the news for the wrong reasons. Up-tick firm). JP Morgan retained it's reputation (as discussed). Wells Fargo is a strong name and rep, UBS has a strong name in investment banking.
Don't know how much this helps... Just my take.