What firm is this?

or Register to post new content in the forum

 

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.
Sep 28, 2005 1:50 pm

I got an email response to my resume that would only HINT at who the firm is they represent.  I don't know if I feel comfortable responding to an email like this: 


---WHO IS OUR CLIENT?---
»  They are an icon and household name in the culture of American Finance.
»  They have, by far, the lowest attrition rate of any of their competitors.
»   In 2004, our client was ranked #1 in individual production (revenues) per advisor/consultant.
»   They are product neutral (they do not ask you to sell proprietary products and do not give you a larger commission for selling proprietary products).
»   They have the most entrepreneurial corporate culture in the industry.
»   They provide an initial three year compensation structure.
»   They offer every possible product imaginable.
»   Their training is the jewel of the industry.

---WHO OUR CLIENT IS NOT---
We cannot disclose our client without fully qualifying you for the position.  However, we can tell you that our client is NOT American Express, NOT Merrill Lynch, NOT Morgan Stanley, NOT a foreign-owned firm, NOT a "wanna-be" regional firm, NOT any kind of MLM setup in any way whatsoever, and NOT an insurance company that tries to portray itself as a true full-service financial firm.



Top production in the industry?  I think I read somewhere that UBS had the top producers per rep in the biz?  However, there's no WAY they have the lowest attrition rate!

Sep 28, 2005 2:48 pm

CFP,


I'm a recruiter, and I'm going to level with you - if a recruiter "wants to learn about you and your situation before they tell you who they work with," it's a waste of time. 


FAs time is WAY too valuable to have a bunch of morons running around playing "guess who" games with them.  If they don't come right out and say who they're working with, I wouldn't spend any time.


Plus, a recruiter will learn absolutely nothing by sending an email.  The response rate has to be less than 1/10 of 1%.  Even if a broker tells me he's not interested and hangs up on me, I know where I stand.  Let recruiters call you and don't let them play silly games.


I digress.  Got  on my soapbox a bit there...Sorry.

Sep 28, 2005 2:50 pm

Oh, and it's not SSB (not the highest producing) and it's not UBS (foreign-owned).  Plus, last I heard, those two plus Merrill had the highest 3 avg production in the biz.


Who was the recruiting firm?  You can private me on that one if you'd like.


-BR

Sep 28, 2005 3:05 pm
CFP2BE:

I got an email response to my resume that would only HINT at who the firm is they represent.  I don't know if I feel comfortable responding to an email like this: 


---WHO IS OUR CLIENT?---
»  They are an icon and household name in the culture of American Finance.
»  They have, by far, the lowest attrition rate of any of their competitors.
»   In 2004, our client was ranked #1 in individual production (revenues) per advisor/consultant.
»   They are product neutral (they do not ask you to sell proprietary products and do not give you a larger commission for selling proprietary products).
»   They have the most entrepreneurial corporate culture in the industry.
»   They provide an initial three year compensation structure.
»   They offer every possible product imaginable.
»   Their training is the jewel of the industry.

---WHO OUR CLIENT IS NOT---
We cannot disclose our client without fully qualifying you for the position.  However, we can tell you that our client is NOT American Express, NOT Merrill Lynch, NOT Morgan Stanley, NOT a foreign-owned firm, NOT a "wanna-be" regional firm, NOT any kind of MLM setup in any way whatsoever, and NOT an insurance company that tries to portray itself as a true full-service financial firm.



Top production in the industry?  I think I read somewhere that UBS had the top producers per rep in the biz?  However, there's no WAY they have the lowest attrition rate!



ML has the top production per rep, I believe. I also beleve your emailer is lying to you. 

Sep 28, 2005 6:04 pm

ML=


#1 in average production per advisor


#1 in average assets uinder management per advisor


#1 in revenue generation per advisor.


I agree, dont waste your time with that recruiter- they seem like a hack.

Sep 29, 2005 9:54 am

Many recruiter training programs will say "don't lift your skirt before you know a little about them - who they are, what kinds of numbers they do, etc."  ---BS.  Tell them who you work with right away, if they say no interest, no problem - maybe ask what it is about XYZ company that makes them happy so you know what trips their trigger and move on.  No reason to waste time.

Sep 29, 2005 7:07 pm

[quote=CFP2BE]

I got an email response to my resume that would only HINT at who the firm is they represent.  I don't know if I feel comfortable responding to an email like this: 


---WHO IS OUR CLIENT?---
»  They are an icon and household name in the culture of American Finance.
»  They have, by far, the lowest attrition rate of any of their competitors.
»   In 2004, our client was ranked #1 in individual production (revenues) per advisor/consultant.
»   They are product neutral (they do not ask you to sell proprietary products and do not give you a larger commission for selling proprietary products).
»   They have the most entrepreneurial corporate culture in the industry.
»   They provide an initial three year compensation structure.
»   They offer every possible product imaginable.
»   Their training is the jewel of the industry.

The company they are referring to in the E-mail AD is Smith Barney.  I am not saying the AD is true...only that that is the company they represent.  I tolked to these peoiple...but I had already been in negotiation with SB and a few other companies so they were not in a position to "be of assistance" to me.


I will say they were quite professional in our communtications.


Good luck!



Sep 30, 2005 9:44 am

Do FAs respond well to emails like this?  I would figure the firm would jump all over communication like this.