Who has the best training program?

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Jun 28, 2005 2:37 pm

If you have an opinion as to which brokerage firm(s) are the best ones to start a financial advisor/consultant career with I would appreciate your input.  I live in San Francisco and would like to know which firms to approach and or avoid?  Ideally, I would like to be at a firm where pushing proprietary or insurance products is not the goal. 


(Merrill, Citi/Smith, Morgan, AGE, RJ, Waddell, etc.)  


Who would you like to work for?


Who would you not work for? 


Who has the best training program? 


I have taken the Series 7/63/66 before and passed, it is not a problem. My seven has merely lapsed so I just need a new sponsor.   


Thanks

Jun 28, 2005 3:40 pm
BBaruch:

If you have an opinion as to which brokerage
firm(s) are the best ones to start a financial advisor/consultant
career with I would appreciate your input.  I live in San
Francisco and would like to know which firms to approach and or
avoid?  Ideally, I would like to be at a firm where pushing proprietary or insurance products is not the goal. 


(Merrill, Citi/Smith, Morgan, AGE, RJ, Waddell, etc.)  


Who would you like to work for?


Who would you not work for? 


Who has the best training program? 


I have taken the Series 7/63/66 before and passed, it is not a
problem. My seven has merely lapsed so I just need a new
sponsor.   


Thanks





If you passed Series 7 in the past it is safe to assume that you have "been in the biz."



What does your experience tell you regarding the firms you mention above?



One of them has nothing in common with the others save the fact that they are members of the NASD.



Why in the world would you care what some people on an Internet message board think about how you should spend your career?

Jun 28, 2005 3:49 pm

[quote=BBaruch]

  Ideally, I would like to be at a firm where pushing proprietary or insurance products is not the goal. 


(Merrill, Citi/Smith, Morgan, AGE, RJ, Waddell, etc.)  


You will need to find an INDY all wirehouse push there crap,if not in form of funds or there  money managers then they push it in there bond  or stock inventory. Remember every day at a wirehouse you you are building a book for them not you they will fire and could care less about you or the clients you bring in! They are all the same, they have to unload there garbage.  


Stay away from the wirehouses!

Jun 28, 2005 3:56 pm
Greenbacks:

You will need to find an INDY all wirehouse push there crap,if not in form of funds or there  money managers then they push it in there
bond  or stock inventory. Remember every day at a wirehouse you
you are building a book for them not you they will fire and could care
less about you or the clients you bring in! They are all the same,
they have to unload there garbage.  


Stay away from the wirehouses!





There are those who will claim that knowing the difference between there and their is unimportant.



If this guy had written a letter to you would you rush right out and allow him to invest your retirment assets?



Additionally--if you're trying to say that somebody or some
organization does not respect you the phrase is "could NOT care less"
not "could care less."



Being fluent in the language would seem to be a basic.

Jun 28, 2005 5:14 pm

Once again babbling from fools.  Here is the training program I received as a new person starting out at RJ.


60 min. everyday in training with branch management on selling skills


60 min everyday with my mentor to go over my studies for exams


2 weeks in Florida mostly product knowledge


2 weeks back at branch for more selling trainig


2 weeks back in Florida for even more training.


This is a complex field and your clients expect you to be an expert.  Every branch at RJ is not the same.  ASK FOR A TRAINING OUTLINE WHEN YOU ARE INTERVIEWING BECAUSE IT IS THE MOST IMPORTANT FACTOR IN YOUR SUCCESS.


Hope that helps and good luck.


Jun 28, 2005 5:37 pm
maybeeeeeeee:

Once again babbling from fools.  Here is the training program I received as a new person starting out at RJ.


60 min. everyday in training with branch management on selling skills


60 min everyday with my mentor to go over my studies for exams


2 weeks in Florida mostly product knowledge


2 weeks back at branch for more selling trainig


2 weeks back in Florida for even more training.


This is a complex field and your clients expect you to be an
expert.  Every branch at RJ is not the same.  ASK FOR A
TRAINING OUTLINE WHEN YOU ARE INTERVIEWING BECAUSE IT IS THE MOST
IMPORTANT FACTOR IN YOUR SUCCESS.


Hope that helps and good luck.






There is not a branch manager alive who has an hour a day to devote to training a girl to sell.



Spending an hour with a mentor on exams is a waste of time--mentors
know close to nothing about the exams and would barely pass if they had
to take it themselves.



Going to St. Pete for two weeks is a good thing--check and see how long
Merrill rookies spend in Princeton.  How about SSB--how long do
they spend in Hartford.  What about Wachovia--I suspect they're
taken to Richmond, but for how long?  How about UBS--time in
Weehawken and the city.  How long?



Two weeks is not an extraordinarily long time.



But the biggest joke of these programs is the promise that branch
managers and mentors will share "quality time" with rookies--it just
doesn't happen.

Jun 28, 2005 6:32 pm

"Two weeks is not an extraordinarily long time."


He said 4 weeks in Fl.


AGE spends a total of 3 weeks in St. Louis for training.

Jun 28, 2005 7:02 pm

If this guy had written a letter to you would you rush right out and allow him to invest your retirment assets?


Put- if you're going to run your mouth about spelling and proper grammar, make sure you double check your reply before you click the "post reply" button.... You are a tip in the truest sense of the word... Contrary to what you may believe, you contribute very little to this forum, even with your "knowledge, experience, and accomplishments". Cmon now, its finally nice in NY, get out and enjoy your life- have a picnic with wifey in Central Park, take a ride out to the Hamptons, go for a nice sail around the Sound... Simply do something other than spout babble on this site... Get out there kid- be somebody... You wont be missed... Looking forward to your reply.

Jun 28, 2005 7:13 pm
Put Trader:
maybeeeeeeee:

Once again babbling from fools.  Here is the training program I received as a new person starting out at RJ.


60 min. everyday in training with branch management on selling skills


60 min everyday with my mentor to go over my studies for exams


2 weeks in Florida mostly product knowledge


2 weeks back at branch for more selling trainig


2 weeks back in Florida for even more training.


This is a complex field and your clients expect you to be an expert.  Every branch at RJ is not the same.  ASK FOR A TRAINING OUTLINE WHEN YOU ARE INTERVIEWING BECAUSE IT IS THE MOST IMPORTANT FACTOR IN YOUR SUCCESS.


Hope that helps and good luck.





There is not a branch manager alive who has an hour a day to devote to training a girl to sell.

Spending an hour with a mentor on exams is a waste of time--mentors know close to nothing about the exams and would barely pass if they had to take it themselves.

Going to St. Pete for two weeks is a good thing--check and see how long Merrill rookies spend in Princeton.  How about SSB--how long do they spend in Hartford.  What about Wachovia--I suspect they're taken to Richmond, but for how long?  How about UBS--time in Weehawken and the city.  How long?

Two weeks is not an extraordinarily long time.

But the biggest joke of these programs is the promise that branch managers and mentors will share "quality time" with rookies--it just doesn't happen.


FYI...Merrill no longer sends new FA's to Princeton...

Jun 28, 2005 11:06 pm
BBaruch:

If you have an opinion as to which brokerage
firm(s) are the best ones to start a financial advisor/consultant
career with I would appreciate your input.  I live in San
Francisco and would like to know which firms to approach and or
avoid?  Ideally, I would like to be at a firm where pushing proprietary or insurance products is not the goal. 


(Merrill, Citi/Smith, Morgan, AGE, RJ, Waddell, etc.)  

Who would you like to work for?



Of those you provided, maybe AGE and Morgan


BBaruch:

Who would you not work for?



Merrill Lynch




BBaruch:

Who has the best training program?




I have taken the Series 7/63/66 before and passed, it is not a
problem. My seven has merely lapsed so I just need a new
sponsor.   


Thanks

Jun 28, 2005 11:08 pm
blarmston:

Put- if you're going to run your mouth about spelling and proper
grammar, make sure you double check your reply before you click the
"post reply" button....


Actually, what this forum needs is the ability for a user to edit his posts.

Jun 29, 2005 7:02 am
blarmston:

If this guy had written a letter to you would you rush right out and allow him to invest your retirment assets?





Tell me something Blarmston, is there a difference between a classic
typo and using the WRONG word again and again in the same paragraph?



Are you so poorly educated that you don't see things like the use of
"there" instead of "their?"  If it happens once it could be a
brain fart--but when it happens four or five times in the same sentence
it is proof positive that the writer does not know any better.



Are your standards so low that such lack of knowledge does not bother you because you too would not know any better?



To some of us, those of us with standards and expectations, such stupidity is akin to the legendary fingernails on a blackboard.



That you are incapable of noticing does not speak well about you.

Jun 29, 2005 7:05 am
inquisitive:
blarmston:

Put- if you're going to run your mouth about spelling and proper
grammar, make sure you double check your reply before you click the
"post reply" button....


Actually, what this forum needs is the ability for a user to edit his posts.





I am surprised that there is not a spell checker.  However
creatures like this Blarmston would be too stupid to know how to use
it, and it wouldn't catch the "their, there, they're" problem anyway.



It's a shame that some people have no expectations of themselves or
others--and as a result spend their entire lives muttering, "Who am I
to judge......"

Jun 29, 2005 7:30 am

B-Baruch-



IF I were you I would try to get into Merrill.  They have the best
training program, platform, technology, brand, etc.  Everyone says
"oh you'll never make it at ML blah blah" but those people are losers
and that's why Merrill wouldn't hire them.  Even if you don't make
it every firm other on the street will be begging to hire you. 
And about taking your book out of there - ML is not going to care much
about some small failed FA taking his 10 million dollar book to Morgan
Stanley.  They only come after the big hitters who try to switch
firms for a big check. 

Jun 29, 2005 8:41 am
Scorpio:

B-Baruch-



IF I were you I would try to get into Merrill.  They have the best
training program, platform, technology, brand, etc.  Everyone says
"oh you'll never make it at ML blah blah" but those people are losers
and that's why Merrill wouldn't hire them.  Even if you don't make
it every firm other on the street will be begging to hire you. 
And about taking your book out of there - ML is not going to care much
about some small failed FA taking his 10 million dollar book to Morgan
Stanley.  They only come after the big hitters who try to switch
firms for a big check. 





That advice should always be heeded.  Regardless of what you're
applying for you should always shoot for the moon.  There is a
lead dog in this business, and the lead dog is Merrill.  As such
if you can hire on with them you'd be a fool not to.



It's not true that failed Merrill brokers cause managers at other firms
to have wet dreams--but we all know that a veteran of a Merrill office
will have been exposed to great training and all that is associated
with it.



It's also not true that clients leave Merrill easily.  It is the
ONLY firm in the street where many retail types feel privleged to have
an account.  What you must remember is that when you said, "Hi,
I'm Bob Broker with Merrill Lynch" the prospect heard Merrill's name
and not yours.  That is an undeniable fact.



Now, over the coming months and years it is possible to build a
relationship with the guy that he begins to think of you as
Merrill.  In a country club locker room you hear things like, "My
broker thinks that ............." but when it's appropriate you'll
hear, "My Merrill broker thinks that..........."



It could be that the guy has more than one broker and was simply
identifying which one he was referring to--but the most probable
explanation is that he wants to tell the listener that he's a Merrill
client as if that were a badge of honor in some way.



Telephone surveys have been done in upscale neighborhoods.  A
really scary survey is the one in which the only question is, "If you
were to inherit a sizeable sum of money where would you turn for
investment advice if you did not already  have an advisor?"



A huge--as in HUGE--portion of the respondents said that they'd turn to
Merrill.  It is the only firm in the street whose name is a
household word--and that benefit can never be overestated.

Jun 29, 2005 10:29 am

"That you are incapable of noticing does not speak well about you"


Let's be clear here Put. My reply was not to marginalize or dismiss the fact the referenced post was full of grammatical errors but to simply point out that in YOUR critical response you also committed an error. At no point do I convey a superior, "my $hit doesnt stink attitude"- something you perverse this forum with to the tune of 680 posts. I omit the other 12 because they actually contained useful and thought provoking commentary. I will not elaborate due to the fact this causes you pleasure that so much time and effort is devoted by others to garner you attention. You are a joke.

Jun 29, 2005 10:34 am
blarmston:

"That you are incapable of noticing does not speak well about you"


Let's be clear here Put. My reply was not to marginalize or dismiss
the fact the referenced post was full of grammatical errors but to
simply point out that in YOUR critical response you also committed an
error. At no point do I convey a superior, "my $hit doesnt stink
attitude"- something you perverse
this forum with to the tune of 680 posts. I omit the other 12
because they actually contained useful and thought provoking
commentary. I will not elaborate due to the fact this causes you
pleasure that so much time and effort is devoted by others to garner
you attention. You are a joke.





Perverse?  Blarmston, you cannot use adjectives as verbs--but you
are not to blame.  I wouldn't want you to feel bad about your own
ignorance--self esteem and all those things are so important.

Jun 29, 2005 10:48 am
inquisitive:
blarmston:

Put- if you're going to run your mouth about spelling and proper grammar, make sure you double check your reply before you click the "post reply" button....


Actually, what this forum needs is the ability for a user to edit his posts.



Stdies hve shwn tht spllng is not critcl to comuncatn of thghts and Ideas. Their you have it! Aah wait, there u have it. Damn, thear you hav it. OK, E-NUF

Jun 29, 2005 10:54 am
tjc45:

[quote=inquisitive]

Stdies hve shwn tht spllng is not
critcl to comuncatn of thghts and Ideas. Their you have it! Aah wait,
there u have it. Damn, thear you hav it. OK, E-NUF





True, but are the slackers so dedicated to mediocrity that they just don't give a damn about anything?

Jun 29, 2005 11:11 am

"Perverse?  Blarmston, you cannot use adjectives as verbs--but you are not to blame.  I wouldn't want you to feel bad about your own ignorance--self esteem and all those things are so important."


I am truly disappointed Put. I expected you to respond with a much better response than that.