No vacation as ml poa

or Register to post new content in the forum

60 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Dec 15, 2005 8:57 pm

  After jumping into the POA at ML; which does a frikin' full throttle training program, I just finished all of it.  Passed the 7, 66, Life & Health, www.americancollege.edu Ph.D book, did the internal Assessments.   Well, good time to "re-fill the tank" as Mr. Sontag just encouraged.  Should not anyone that just did that get a holiday?  What have you all heard?

Dec 15, 2005 8:59 pm

Dec 15, 2005 9:19 pm

You kidding me? What you just completed was the EASY part. Now, you need to work 60 hours per week for the next 3 years, keep your head down, prospect you $ss off, get a little lucky, etc, and MAYBE you will make it.


I hear you bro, sometimes I feel like taking a week off, but I know that basically three weeks are shot. I am probably pathetic, but I feel guilty when I take a day off ( my thinking is that that same attitude will increase my likelihood of graduating early with a nice annuitized book to fall back on when salary goes away).


Sometimes I look at our goals and I want to puke on my WMW.

Dec 15, 2005 9:29 pm

I did not take a day off for the first 5 years I was in the business.  Truthfully.  I still rarely ever take time off however, I do manage to take several vacations usually centered around a holiday for example memorial day is monday/  I take my Vaca leaving Wed. evening.  THurs/Fri off return Tuesday to work- 5 nights/ 6 days.  The life...

Dec 15, 2005 9:44 pm

This is kind of off topic, but I feel like I might as well be on
vacation these past few weeks because no one wants to sit down during
this time of year to talk about their finances.  My numbers for
this month are pathetic.  Granted I've got some people lined up
for after the first of the year, but that doesn't do anything for me
this month.  Do you think management takes this seasonal effect
into consideration?   

Dec 15, 2005 9:46 pm

Ahh yes... the life....


Monday -Thursday:


In by 7am, going strong until 1pm, lunch till 2-2:30pm, back at it until 4-4:30pm, quick power nap in the office till 5-5:30pm, calling from 5:30pm- 7:30-8pm.


Friday: In by 7am, going strong until 2ish, depending on workload I leave to enjoy my life.


Every other Saturday:


In by 9am, paperwork, analysis, callbacks, etc until about 1pm, then leave to enjoy my life.


Sunday:


Watch my beloved New York Jets get their $sses kicked.


Monday:


Back at it.



Ahhhh... the life.... You know what though??? I LOVE IT.....

Dec 16, 2005 7:07 am

Go JETS

Dec 16, 2005 7:31 am

ML paid you to sit 8 hours a day and do nothing but learn.  That
was your job.  You were not digging holes in frozen ground,
putting up miles of fences, or slinging iron in an iron mill.  You
sat and did practice tests, read, and studied.  Vacation?  If
you take one get another job while you are off. 



Do yourself a favor and do not mention that to anyone in your office.

Dec 16, 2005 11:19 am

Go Jets. Starting at quarterback- Matt Leinart???


Those idiots will probably decide to actually PLAY HARD the rest of the year, win a few games, and miss out on drafting either Leinart or Young. Pathetic.

Dec 16, 2005 7:22 pm

Go Falcons!

Dec 16, 2005 7:46 pm

Wow!  Currently, I am applying into this career, I finished my MBA at Darthmouth.  My sister is in her 3rd year of residency; and shares the same workday of 8 hours that morph into 14 hours.  We both think highly of Merrill, since our parents have utilized them.  However, I believe I see various different stories here.  Rightway says 8 hours; however, bankrep and blarstorm vibrantly testified otherwise.  Who is correct about what Skipper was asking.  Rightway sounds like a manager; are you.  When is a vacation appropriate?  I suspect that most in the field have families. 

Dec 16, 2005 8:00 pm

Next,



ML pays a salary to Skipper, and receives nothing in return in the
immediate future.  I was speaking of the first 17 weeks Skipper
just went through.  The real work does begin in week 18, and to
expect a vacation at that point is just plain silly...just a couple of
months passed.



Blarm is a top POA and people should PM him on how to get through the
program in a way where they can graduate with an amazing paid education
of the business coupled with the hard core realities of its
difficulties early on...all the while enjoying it.  In a year or
two Blarm will post how he took a month off and did a tour of baseball
parks around the US (Someone out here did that a few years ago-I
thought that was cool).  That will be the shortest vacation of his
career from that point on.



Merrill Lynch is an excellent firm for both clients and
professionals.  I am not a manager, but one step up, a Financial
Advisor.

Dec 16, 2005 8:47 pm

Next,


At ML, from what I hear (second hand information): Once you've brought in $20million in assets and are well on your way to success.


For someone who is not in the business yet, I'd be asking questions about what makes a successful advisor or how I should spend my 12 hours a day?  Not, "when can I take a vacation"? 


I do not work at Merrill Lynch, but it is common knowledge that they are the most demanding among the wirehouses.  My favorite analogy is that Morgan Stanley is like the Coast Guard, Merrill Lynch is like the Marines (this came from a Morgan Stanley broker!).


Next, settle on doing whatever it takes to be successful: MBA's mean nothing in this business, they do not bring in assets or persuade people to trust you with their $$$$.  You will most likely work your @ss off for at least 5 years and with a little luck, make it in this business.  If you have contacts with $$$, then the story may be different.


Most likely you'll be cold calling strangers who will be irritated at your intrusion and you'll be challenged to convince them in 10 seconds that they should at least listen to what you have to say, from there you'll set about one appointment for every 100 to 200 people you talk to and follow up with a whole bunch of peole who will waste your time.  You will have pressure coming at you from every direction as you try to prove that you're worth the God awful amounts of $$$ ML throws at your training.  You will have to do this every-single-day without letting it get you down.  Also, every body already has a broker and are extremely happy with the crappy service they've been getting.


There's a reason only 1 in 10 make it.  Good luck!!

Dec 16, 2005 9:16 pm

"Most likely you'll be cold calling strangers who will be irritated at your intrusion and you'll be challenged to convince them in 10 seconds that they should at least listen to what you have to say, from there you'll set about one appointment for every 100 to 200 people you talk to and follow up with a whole bunch of peole who will waste your time.  You will have pressure coming at you from every direction as you try to prove that you're worth the God awful amounts of $$$ ML throws at your training.  You will have to do this every-single-day without letting it get you down.  Also, every body already has a broker and are extremely happy with the crappy service they've been getting."


Haha.. Truly accurate. You know what gets me going thought? When I have doctors faxing me statements after a 30 minute conversation over the phone ( happened Wednesday evening- saw 600K in statments sitting on my desk Thursday morning). When you watch a 60 year old prospect sign paperwork to become a client ( happened Tuesday) and entrust his entire asset management to you ( about 400K, and nearly 900K coming in 1.5 years when he retires and the 401K rolls to me). When you have the freedom and luxury of working your $ss off on a friday morning ( after wokring 50 hours from Mon-Thurs), then be able to leave at 1pm to enjoy some bar food and 4 beers with a buddy.


It doesnt suck....

Dec 16, 2005 9:26 pm

"Blarm is a top POA and people should PM him on how to get through the program in a way where they can graduate with an amazing paid education of the business coupled with the hard core realities of its difficulties early on...all the while enjoying it.  In a year or two Blarm will post how he took a month off and did a tour of baseball parks around the US (Someone out here did that a few years ago-I thought that was cool).  That will be the shortest vacation of his career from that point on."


Thanks for the kind words bud... As things are going well right now, it definately feels good. But I know that all could change with an ACAT's out notice or those top 2 or 3 prospects deciding to stay at their current firm or decide to go with another broker ( or worse, a bank....). That's what keeps me going ( also the fact that million dollar producers are starting to realize that I am not some hack but someone who is expected to do very well in the next few years- feels good ).


As for that country wide tour of ballparks, I am thinking while I am still young I will tour the world, hiting the best clubs in the land (Shadow Lounge in MIami, followerd by a flight to London for Gatecrasher and Cream , then off to Ibiza to experience Space, Manumission, etc).....


I figure when I have the little man around in a few years that he can take the MLB trip with me...

Dec 16, 2005 10:16 pm

Transferred two accounts from Merrill this week one for 1.3 Mil 67 yr old retiree and the other for 150K (exec), the nice thing about the 150K account is she has 600K in cash, she never trusted ML to do the right thing.


Did you lose an account this week?  I haven't lost one since I started (death being the exception).

Dec 17, 2005 11:56 am

When is a vacation appropriate?  I suspect that most in the field have families


If you define a vacation as a week or more off, I have never had a vacation in the last 8 years since going Indy.  Even now I only take off maybe on a Friday through Monday if there is a holiday attached to the weekend.   I usually work half a day most Saturdays to get caught up on paperwork and prepare for upcoming appointments.   Since I only have a part time employee now (yay!) who is mainly a clerk/receptionist and not licensed, I can't leave my clients dangling for too long.  Yes, they can call the home office or I can refer to another broker temporarily, but that isn't really a good solution.  So I don't know when it would be appropriate to take off for over a few days at a time.   Maybe next year I can take a vacation during the Christmas season because it is so slow.


My situation is that I have no children at home now and my husband is also self employed and a workaholic, so, this schedule isn't a problem for me.  I have seen many marriages break up because the stay at home spouse (wife) couldn't handle the stress.


Dec 17, 2005 8:13 pm

Bankrep 1,


When did you start?  A month ago. You haven't ever lost an account?  I would say that you are lieing or you have been in the business for about two months.

Dec 17, 2005 8:41 pm

Help,


This is my 5th year, thank you very much.  I did switch firms about two years ago and basically left all but 15- 20 clients due to a non-compete and a substantial distance relo. 


I did have one woman leave me to go to Smith Barney about a year ago, she transferred her account back a couple of months ago because the guy handling her stuff left the business.  I didn't ask to many questions I assume it was a friends son/daughter etc etc.


If you take care of people the right way you should not lose very many if any clients.

Dec 19, 2005 12:44 pm

Blarm,


It is lovely isn't it?  I wouldn't have it any other way mi amigo.  BUT, it's not for most people that's for sure.  I love hearing from people who think this job is all about kicking it  in a nice air conditioned building with people walking in handing you all their $$$ and begging you to graciously manage it for them. 


Vacation is a 4 letter word in this business until you've "made it" (whatever the hell that means).  I pity Next if he asks the interviewing manager about v%c&ti*n.  Unless of course he is lucky enough to have a ready made market excited to funnel their $'s his way.