UBS NFA Training Program

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Mar 2, 2009 10:37 pm

Any UBS trainees on this board that aren’t already on a team?  Any perspectives on how to continue building your business as a sole practitioner at UBS?  Trainees in my branch that aren’t teamed up are getting serious pressure from management to join senior FAs, even if producing at level 1/2 quintiles.  Veiled threats of terminitaion if not interested in going in that direction.

Joining a team is not what I signed up for, so I’ve been resistant.  Not interested in getting railroaded into a business partnership with someone I barely know.  Not sure if this pressure is firm-wide or only at big city branches where real estate costs are an issue.  Thoughts?  

Mar 3, 2009 9:45 am

George - unfortunately, you are the property of UBS.  Until you produce at a level above their cost (about $300k) - you do what they tell you.  You can’t leave on your own - because of your contract.  So I recommend that you do some research on other firms - in case UBS lets you go.  I applaud you for sticking to your guns.  People join this industry to run their own business - not just be a sales assistant for someone else.

  Good luck -  
Mar 14, 2009 11:14 pm

Do whatever it takes in this environment.

I dont think you have much of a choice right now. Good luck!