"At Risk" StanLEH Morgan Brokers?

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Apr 14, 2007 12:01 am
Apr 17, 2007 10:47 pm
ymh_ymh_ymh:

Sounds like MS finally figured out that it is cheaper to try to keep existing bkrs, than it is to pay contra bkrs 2X trailing 12 to come over. What will they think of next?.   

Apr 18, 2007 2:08 am
Apr 18, 2007 8:06 am
ymh_ymh_ymh:


"Big brother"?   LOL....  You mean the "at risk" list? Yes, it's common knowledge that management tries to track people they think might be unhappy enough to leave. Imagine that, trying to keep people happy. What a shock. Better yet, it isn’t news.


BTW, as I've been explaining here for quite some time here, morale is strong, regardless of what you might hear from the occasional whining poster or two here. People who “fit” the new MS, as opposed to holdovers from the “stocks and socks” era of DW, people who liked selling in-house funds for the extra payout, are thrilled and there’s very successful hiring going on to bring in others who want to work in that environment. I’ve listened to the “they’re going to cut another 1,000 brokers” line and the “they’re going to sell the retail side” line and the “they’re closing offices everywhere” line, but the fact is, as you’ve seen in various articles in the trade press, life’s pretty good at MS. Thanks for caring.

Apr 18, 2007 8:08 am
BondJamesBond:
ymh_ymh_ymh:

Sounds like MS finally figured out that it is cheaper to try to keep existing bkrs, than it is to pay contra bkrs 2X trailing 12 to come over. What will they think of next?.   



When you do a top to bottom make over of a flea-bag operation like DW was into what MS has become, some people won't fit. Many were asked to leave, others found the door by themselves. Very, very few tears were shed over people who were the prototypical Dean Witter brokers of the days of yore who left.

Apr 18, 2007 8:25 am
Apr 18, 2007 8:34 am

One final note, now that I've read the article. It talks about monitoring brokers to see who just had a baby or bought a big house or a new car. That's not the way the "at risk" list thing has been described to me. I’ve been told that list is made up of people with reason to have an issue with a manager or the firm as a whole, someone who had a partner move, someone in a market where the opposition is recruiting especially heavily, someone whose production has seen a steep, short-term decline (like they’re storing it in preparation for a move), those sorts of things.


Those might be things (new baby, car or house) an astute manager might note, but making a list about them is another thing all together. As to having a baby, well, the firm would do well to congratulate the broker, but it isn‘t a reason to “monitor“ him. As to buying a new car or new home may be a sign the deal's already made to move, but offering reduced interest rates on loans, if the guy's not already on his way out the door, isn't a bad thing.

Apr 18, 2007 8:37 am
ymh_ymh_ymh:


WOW, thanks. I knew the guy, but hadn't heard he news. Ouch....

Apr 18, 2007 8:49 am
Apr 18, 2007 8:54 am

What if they don't remember wearing pink and purple?

Apr 18, 2007 9:07 am
Apr 18, 2007 7:47 pm

Libertarians have much better ships!

Apr 18, 2007 8:02 pm
doberman:

Libertarians have much better ships!





I don't know about that.



The Libertarian Party ran Howard Stern (the shock jock, not Anna Nicole's

erstwhile boy toy) for mayor (or was it governor?) of New York.

Apr 18, 2007 8:20 pm
ymh_ymh_ymh:

Lindsey and Arlen are not to be trusted. They helped us lose Congress, along with McCain and Bush.

Apr 19, 2007 7:34 pm
Philo Kvetch:
doberman:

Libertarians have much better ships!



I don't know about that.

The Libertarian Party ran Howard Stern (the shock jock, not Anna Nicole's
erstwhile boy toy) for mayor (or was it governor?) of New York.


Granted, there are some factions of the party which don't take themselves seriously. Unfortunately, they get the most media attention and it looks bad for the rest of the party. But then again, when I think about the current crop of Presidential candidates of the Dems and Republicans....