UBS NFA Training Program
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?
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 -
Do whatever it takes in this environment.