UBS Training

or Register to post new content in the forum

33 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.
Aug 14, 2007 9:25 am

In reading the board for the last few months and noticing a few of the people who post here have entered the UBS training program, I was wondering how it was going so far.


How are the materials they provide for the various exams?  Have you needed to supplement them with additional outside sources?


If any of the new UBS have a moment and can give some info it would be appreciated.


Aug 14, 2007 9:38 am

It is not markedly different than any other firm.  Having said that, it's a decent program.  I wouldn't worry about the learning materials, they use STC and it is more than sufficient to get you through. 


The sales training is rather ridiculous, but about what you would expect at a wirehouse.  The only thing I can recommend is that after passing your licensing exams, you work through the weekly training materials as fast as you can and spend as much time as possible building a network of prospects.  Take people to lunch, become active within whatever organizations you have an interest in, etc.  It will help you to ramp up quicker after going into production.  If your BOM will allow it, cold call during training.  Mine didn't recommend it, although I wish I had done some during training just to get off the ground faster. 



cppr33:

In reading the board for the last few months and noticing a few of the people who post here have entered the UBS training program, I was wondering how it was going so far.


How are the materials they provide for the various exams?  Have you needed to supplement them with additional outside sources?


If any of the new UBS have a moment and can give some info it would be appreciated.


Aug 14, 2007 9:04 pm

total joke. I just left and went to another firm. Yes, you get the material to pass exams, but you will NEVER talk to your BM, and the asst. BM is simply a big producer getting a bone.

Aug 14, 2007 9:08 pm
MakeItRainVick7:

total joke. I just left and went to another firm. Yes, you get the material to pass exams, but you will NEVER talk to your BM, and the asst. BM is simply a big producer getting a bone.


Your boy Vick is donezo!   

Aug 14, 2007 9:16 pm

thank goodness. I love my lab a heck of a lot more than vick or pacman...

Aug 15, 2007 2:33 pm
MakeItRainVick7:

total joke. I just left and went to another firm. Yes, you get the material to pass exams, but you will NEVER talk to your BM, and the asst. BM is simply a big producer getting a bone.


Is there anything that made it such a joke? I am not familiar with the different types of traing programs at wirehouses/banks/etc nor have I read anything here regarding what makes each so different.


Thanks

Aug 16, 2007 12:21 am

Training consists of product knowledge. Once you pass the exam, you have a phone. Learn how to dial out. End of training.

Aug 16, 2007 8:42 am

My knowledge is limited in this area, but isn't that pretty much the training program at every wirehouse?  I know some guys at other firms and that is the situation for them also.  This is not a business where they will hold your hand.



madabroker:

Training consists of product knowledge. Once you pass the exam, you have a phone. Learn how to dial out. End of training.

Aug 16, 2007 8:55 am
madabroker:

Training consists of product knowledge. Once you pass the exam, you have a phone. Learn how to dial out. End of training.



thats fine, It is what I would have expected anyway.

Sep 2, 2007 10:45 am

Don't expect to much from the trainning. Is just a bunch of sales material on UBS products and services. 2 weeks in NJ just a roleplay on the sales process and a lot of product and services presentations.

Not much on Operation or motivation.

Sep 3, 2007 11:32 am

Got out of UBS training program 2 yrs ago.  Pretty standard sales and product presentations.  Most wirehouse training programs have limited usefulness at best. 


This job is about getting access to affluent people and making them clients.  Simple but not easy


Sep 4, 2007 8:52 am

hncollazo,


I think you'll find that most wirehouse training is similar.  They train you on the products the firm offers and gives you some basic advice on prospecting.  No one can teach you motivation, that's something that you have to come into the business with.  They also don't have to train you on operations, that's what the back office and sales assistants are for.  I'll say this, I learned more in my first month of production than I did in the entire 6 month training process.

Sep 4, 2007 9:03 pm

Training consisted of doing product modules and studying for the tests (7, 66, & life). After you get you licenses, some BOM's let you start to prospect other won't let you touch a phone.


During the product and test prep they have you working on putting together a prospect list for when you go "live". Last two weeks in NJ doing role play and final product overview and then you are on your own. And I do mean "on your own".


It's your business and they take a cut for the backroom and nice office. Other than that it is "did you make your numbers this month and are you on track with your trailing 12"


Been "live" 4 months, my numbers are at month 8. Don't really think it is any different at any other wire.

Sep 15, 2007 7:52 am

There was nothing I would change about the training.  Basic product refresher, STC materials, workbook that you can crush in a week if you think you're beyond it or step through over a couple months.  Two weeks at HQ were as good as any corp training can be.  In the end you get a billion bits of advice and a trillion different opinions and it's up to you to figure out what's smart business and what's crap.  (Kind of like the job, right?)  I liked the earlier post...do your homework then get out and in front of people.  Try to sign some new account forms in production month 1.

Sep 17, 2007 11:56 am
madabroker:

Training consists of product knowledge. Once you pass the exam, you have a phone. Learn how to dial out. End of training.


Sad but true! It has been that way for as long as I can remember in all wirehouses & insurance companies. And we ask why the general public does not respect this profession


I feel sorry for the rookies and the clients that fall prey for this crap. How will it change?

Sep 17, 2007 1:53 pm

So what would you do to change it?  How else would you have a rookie build a book?



Greenbacks:

madabroker:

Training consists of product knowledge. Once you pass the exam, you have a phone. Learn how to dial out. End of training.


Sad but true! It has been that way for as long as I can remember in all wirehouses & insurance companies. And we ask why the general public does not respect this profession


I feel sorry for the rookies and the clients that fall prey for this crap. How will it change?

Sep 17, 2007 2:55 pm

I would take a look at what works! For instance why do people call Vanguard and Schwab? They do not cold call. Are there reps trained better? Do they have better products? Do prospects feel they are better served?


What can the big wirehouses and insurance companies learn from this? After all discounters where made to profit on wirehouse and insurance companies mistakes, why can't they learn from the discounters mistakes?


The next question is.  


Are they willing to forgo  profits for more clients?


Are they willing to forgo profits for doing the right thing?


Are they willing to forgo profits to clean up there name?


Are they willing to keep reps because they put ethics and morals first but lack the production numbers?  

Sep 17, 2007 3:03 pm

no.


vanguard and Schwab are where cheap people have accounts.  These are the same people that save sugar packets and clip coupons.  They make terrible clients for the rest of us.

Sep 17, 2007 3:09 pm

what are ubs's hurdles? (assets, annuitized)

Sep 17, 2007 3:41 pm
Greenbacks:

I would take a look at what works! For instance why do people call Vanguard and Schwab? They do not cold call. Are there reps trained better? Do they have better products? Do prospects feel they are better served?


What can the big wirehouses and insurance companies learn from this? After all discounters where made to profit on wirehouse and insurance companies mistakes, why can't they learn from the discounters mistakes?


The next question is.  


Are they willing to forgo  profits for more clients?


Are they willing to forgo profits for doing the right thing?


Are they willing to forgo profits to clean up there name?


Are they willing to keep reps because they put ethics and morals first but lack the production numbers?  



So you have nothing, except "be cheap" like Vanguard and Fidelity for the do it yourselfers and wait for people to call in.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Frankly, when I hear people say "I got nothing but training on in house products" I wonder how it was that my training at ML, way back when the Earth was cooling, was so much more inclusive?


 I wonder if what we’re hearing is the sound of people who got better training than that, but it simply didn’t sink in, or people who took the job thinking they were going to be trained to be the next Warren Buffet, pouring over balance sheets and writing investment strategies after six months on the job,  and were disappointed to hear that they weren’t to be trusted, right out of the box to be a discretionary money manager.