What other options?

or Register to post new content in the forum

18 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.
Feb 28, 2006 1:17 pm

I have been in the biz for about 2.5 years at a major wirehouse. Made all my goals including recognition club for ranking high in my region. Also  made  junior partner to a large book of business. However, I came back to my home town and am miserable. I want to move on to a bigger city. But I signed that non-compete, and I guess you have to be fired in order for them to not come after you. problem is , made all my goals and not on the chopping block anymore. I would like to work in a bank or something of that nature. Anything but stay here! Any advise would be Great.

Feb 28, 2006 2:47 pm

So you have done well at your firm and you are looking to get out? If themain issue is the fact that you hate your living area, consider transferring to another city. You can transfer to that branch and continue working at your firm. You would need to meet with the director there and get your current boss to approve it, but I see that happen often. However, if you are miserablew at your current firm, then quit and find something else.

Mar 1, 2006 5:57 pm

 What about E-trade? Do they have all of the requirements of a wirehouse, in terms of asset gathering and production?

Mar 1, 2006 7:14 pm

E-Trade?!!!  Come on, pretender...I have a hard time believing your post above when you're asking about working as a rep for a discount online broker...

Mar 2, 2006 12:05 am

yeah, you need to cruise your A$$ on outta here you hack....

Mar 2, 2006 10:11 am

I take it E-trade is not a good option. Just wanted to see what they were all about. I could care less if you beleive me or not, however thanks for being a jerk!

Mar 2, 2006 10:46 am

Just being real with you. I find it hard to believe that you have 2.5 years in and you dont know how a discount firm operates. Basically you sit there like a hack and wait for clients to call and place trades for them. Exciting stuff..

Mar 2, 2006 10:57 am
blarmston:

Basically you sit there like a hack and wait for clients to call and place trades for them. Exciting stuff..





Ahh blarmston, Don't you work at Merrill? Besides cold calling the day after Thanksgiving isn't that what you do?

Mar 2, 2006 10:57 am
blarmston:

Basically you sit there like a hack and wait for clients to call and place trades for them. Exciting stuff..


Huh?... that's not how this business works?

Mar 2, 2006 12:47 pm
Cruiser:

I take it E-trade is not a good option. Just wanted to see what they were all about. I could care less if you beleive me or not, however thanks for being a jerk!


 You're welcome!  Honestly, if your feelings are that easily bruised, you're in for a short, frustrating career in this field.  I was honestly surprised that you didn't know anything about eTrade after being in this industry for going on three years.


...and if you didn't care if we believed you or not, why did you bother responding?

Mar 3, 2006 3:25 pm

Indyone


Since I do not compete with companies like E-trade currentley, I dont suppose it would be too far fetched to say one would not know too much about them. Got most of my business from other wirehouses, and the easy a-cats were from the independent firms in town. Again just  my personal experience. All I was asking was what they were about. Sounds to me like some one is a little touchy about discount brokerage firms. I wonder why?

Mar 3, 2006 3:35 pm

"Ahh blarmston, Don't you work at Merrill? Besides cold calling the day after Thanksgiving isn't that what you do?"


Absolutely...... Proud of both......


I went back in and looked at my activity that day, and from one call we are actually on the home stretch of closing some significant business. I havent closed the business yet, but he has put us in touch with his attorney and he has indicated that once it passes muster with him, that he will begin transferring his accounts over. Guy has 3.9M, and we will probably get about 2.8 with the rest to eventually follow.


So I guess cold calling after thanksgiving may have some positive results..... Probably beneath most of you all though eh????

Mar 3, 2006 4:29 pm

Cruiser,


They are touchy about everything. You would be too if you had nothing to do but post here all day.


Check out the times of their posts. They are certainly not out beating the bushes for work. They are disgruntled and need to take out their frustrations here.  Read some of the inane banter these guys have between themselves. They think they are all so great and that we are dumb or ignorant for asking reasonable questions.


The retail stockbroker reputation lives on thanks to these fellas!!!!

Mar 3, 2006 4:31 pm

nice... i love that...

Mar 3, 2006 5:04 pm
Cruiser:

Indyone

Since I do not compete with companies like E-trade currentley, I dont suppose it would be too far fetched to say one would not know too much about them. Got most of my business from other wirehouses, and the easy a-cats were from the independent firms in town. Again just  my personal experience. All I was asking was what they were about. Sounds to me like some one is a little touchy about discount brokerage firms. I wonder why?


You're mis-reading me.  I have very little wirehouse and no discount brokerage competition in my market, so I'm far from touchy about it.  I was just very surprised that you would consider going from a wirehouse to be an order taker at a discount brokerage...I don't see any advising coming out of those shops.


...an you wouldn't get an easy ACAT from me...

Mar 4, 2006 11:14 am
blarmston:

[P



Absolutely...... Proud of both......



I went back in and looked at my activity that day, and from one call we are actually on the home stretch of closing some significant business. I havent closed the business yet, but he has put us in touch with his attorney and he has indicated that once it passes muster with him, that he will begin transferring his accounts over. Guy has 3.9M, and we will probably get about 2.8 with the rest to eventually follow.



So I guess cold calling after thanksgiving may have some positive results..... Probably beneath most of you all though eh????





I'm glad you are proud of your broker and I wish you the best in closing that business.



However, you seemed to have missed my point which is, I really don't understand why someone who is new to the business himself and is not yet established would call someone a hack for asking a seemingly innocent question.



After you've established yourself and been in the business a few more years I'm guessing two things will happen;



1)You'll have a little more understanding for people who are realitively new to the business and won't be so quick to try to run their "a$$" out of here and,



2) You will have a much higher opportunity cost on your personal time forcing you to figure out a more appropriate time to reach that prospect than the day after Thanksgiving.

Mar 4, 2006 12:18 pm

[quote=TryingToGetIn]Cruiser,

They are touchy about everything. You would be too if you had nothing to do but post here all day.


Check out the times of their posts. They are certainly not out beating the bushes for work. They are disgruntled and need to take out their frustrations here.  Read some of the inane banter these guys have between themselves. They think they are all so great and that we are dumb or ignorant for asking reasonable questions.


The retail stockbroker reputation lives on thanks to these fellas!!!!/QUOTE]


You might go easy on the generalizations...just because you got your feelings hurt does not mean that there aren't plenty of intelligent contributors to this forum.  Sure, there are "other" posters also, but generalizations such as the one you just made are clearly a stretch and don't help the credibility of the poster, even if you use correct grammar and spelling and lots of fancy words...

Mar 4, 2006 3:07 pm

$$$tree,


you make some good points... I can admit when I may have overreacted... keep firing away with the questions and hopefully next time I will have a bit more productive comments to make.