SB vs. MS

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Feb 28, 2007 3:52 pm

Received an offer from both firms.  Any thoughts on the culture, training, platforms, etc?

Feb 28, 2007 4:41 pm

You interviewed at both firms, which one do YOU like better.


I would rather be the sort of knucklehead that does well in a Merrill environment, but I'm flat out not (that sort of knucklehead). Merrill produces more hypersuccessful customers' men than any other platform in this industry. But then, I personally couldn't stand to be a "Customers' Man". I wanted to be a Stock Broker, and that's what I am.


Smith Barney? Now might just well be the time! Now would probably be a good time to have SB give you a pile of stock for joining, because they are likely to be taken out or taken private. When that happened to UBS(?) didn't everyone get cashed out of their restricted stock early?


Maybe SB has pendulated all the way to the end of their bad press cycle, and they're about to start doing everything right.... Maybe...


You know those genetics guys are doing wonderful things these days... Maybe they'll make some flying pigs! Won't that be a glorious day?!?!

Feb 28, 2007 4:52 pm

Whomitmayconcer:
While initially I found your responses somewhat caustic I have grown to appreciate your direct style and I sense there may be a genius lurking below that crusty exterior you flaunt with so much exuberation.


What's the difference between a "Customers' Man" and a "Stock Broker"...... in your opinion.


I will hold my breath until I get your response.


Feb 28, 2007 4:55 pm

Random, check out what these folks had to say about SB:


It's the best training program at any of the wirehouses.  Two years of base plus 6 months where your salary fades out.  Deferred comp, quarterly bonuses, and commission on top of that - all from day one of production. 


The platform is completely open architecture.  They allow you to be entrepreneurial and build your business the way you want to.  Needless to say, I am a fan. 



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Actually, the comp changes that were written about (on this site and others) do not affect those who are in their first five years of production (trainees).  The trainee payout has been SIGNIFICANTLY enhanced.  You can now earn $125K in deferred comp (versus the old program $45K).  Also, the FULL salary has been stretched out to 24 months plus an additional 6 months of salary fade out.  MOST important, you can earn commission from day one of production.  No other wirehouse matches that combination for trainees.


Feb 28, 2007 5:30 pm

In my exuberant opinion, a "customers' Man" is an employee of a brokerage firm who is employed to act as the middle man between the firm and the customers. The customers' man takes his direction from the firm and it is his job to persuade the customer of its efficacy. A customers' man is not supposed to think for himself, he's supposed to let his higher ups do this laborious task for him.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


A stock broker is a salesman whose job it is to find appropriate investments for his book of clients and to manage those investments for those clients. A stock broker's success is measured in his prognostigitational talents.

Feb 28, 2007 6:01 pm
Whomitmayconcer:

In my exuberant opinion, a "customers' Man" is an employee of a brokerage firm who is employed to act as the middle man between the firm and the customers. The customers' man takes his direction from the firm and it is his job to persuade the customer of its efficacy. A customers' man is not supposed to think for himself, he's supposed to let his higher ups do this laborious task for him.


A stock broker is a salesman whose job it is to find appropriate investments for his book of clients and to manage those investments for those clients. A stock broker's success is measured in his prognostigitational talents.



In my way of thinking, a stockbroker is simply an order taker.  The only stockbrokers who actually manage their clients' accounts are those who have discretionary control. (how many of those do you think there are?)


Feb 28, 2007 6:39 pm

Morgan is heading in the right direction - SB going down

Feb 28, 2007 7:28 pm
nope:

Morgan is heading in the right direction - SB going down


Are you just talking smack?  I mean it is ok if you are, but what are you basing that on.

Feb 28, 2007 7:40 pm

They got rid of a lot of the over head (managers) They got rid of the low end producers. Average revenue per FA is up - They are investing by paying up for top producers.


SB used to be the wirehouse to go to - but they seem to be losing more FAs than what they are recruiting.


Feb 28, 2007 9:55 pm

Mangled Money,


Yeah yeah yeah blah blah blah ! You're talking from your perspective which is what 4 years in the industry? Even if you've been selling product for twenty years, you've always been willing to let the company line froth from your mouth!


The term "Customers' Man" goes way way back when all there was to sell was stocks, bonds and some weird thing that MFS was trying to get off the ground called a "Mutual Fund?"



Feb 28, 2007 9:58 pm

Meanwhile, I misread, I thought it was SB or ML. Morgan Stanley? Barney or Stanley?


I don't know anything about Morgan Stanley. Sorry.


The other part still is valid though. Which firm did you like best?

Mar 1, 2007 11:00 am

One with such a great intellect would surely have taken the time and practiced the diligence to re-read the original post. Others observing may deem this error to be indicative of an inherent lack of intelligence and lack of maturity in rushing quickly to a reply before truly understanding the question being posed...

Mar 1, 2007 11:15 am

ZZZZZZZZ.....

Mar 1, 2007 12:03 pm
Whomitmayconcer:

Mangled Money,


Yeah yeah yeah blah blah blah ! You're talking from your perspective which is what 4 years in the industry? Even if you've been selling product for twenty years, you've always been willing to let the company line froth from your mouth!


The term "Customers' Man" goes way way back when all there was to sell was stocks, bonds and some weird thing that MFS was trying to get off the ground called a "Mutual Fund?"


When a person has to resort to ad hominem attacks, it shows he has lost the argument.

Mar 1, 2007 2:03 pm

Yes, that is correct. So why did you even bother entering the argument by hurling an ad hominem?<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


You have a handle that shows a pronounced preference for a product based paradigm, and you insulted stock brokers by referring to them as "Order takers".


And which part of my response do you take as ad hominem? That you have the perspective of someone in the business 4 years? That you espouse a corporate line? Well, again, you advertise yourself as someone who has zealously adopted the new corporate line of "Managed Money".


Yes MM has been around since the days of EFHutton, but it was the bull market of 1997 that really set the wheels in motion and the bear market of 2k-2003 that got the cart rolling down the hill! Therefore, it is not an unjustified pejorative statement to assign a 4 year old perspective to your outlook.

Mar 1, 2007 2:23 pm
Whomitmayconcer:

Yes, that is correct. So why did you even bother entering the argument by hurling an ad hominem?


You have a handle that shows a pronounced preference for a product based paradigm, and you insulted stock brokers by referring to them as "Order takers".


And which part of my response do you take as ad hominem? That you have the perspective of someone in the business 4 years? That you espouse a corporate line? Well, again, you advertise yourself as someone who has zealously adopted the new corporate line of "Managed Money".


Yes MM has been around since the days of EFHutton, but it was the bull market of 1997 that really set the wheels in motion and the bear market of 2k-2003 that got the cart rolling down the hill! Therefore, it is not an unjustified pejorative statement to assign a 4 year old perspective to your outlook.



I never hurled an ad hominem, but I'll let others respond to your posts from now on.    Good luck.

Mar 1, 2007 2:51 pm
ManagedMoney:



I never hurled an ad hominem, but I'll let others respond to your posts from now on.    Good luck.


What do you call this?


ManagedMoney:


In my way of thinking, a stockbroker is simply an order taker.  The only stockbrokers who actually manage their clients' accounts are those who have discretionary control. (how many of those do you think there are?)



ManagedMoney:

 

... but I'll let others respond to your posts from now on.   


I'm Shattered!

Mar 1, 2007 4:11 pm

C'mon you too... kiss and make up!


Mar 1, 2007 5:08 pm
blarmston:

One with such a great intellect would surely have taken the time and practiced the diligence to re-read the original post. Others observing may deem this error to be indicative of an inherent lack of intelligence and lack of maturity in rushing quickly to a reply before truly understanding the question being posed...






You rock Blarm.

My what big words you know.  You must be reeeeeeeeeeel smart!

Mar 1, 2007 5:59 pm

Thanks JoeDaMan.. Every once in a while I come out with something worthy of reading... I love big words. "Dilapidated" is one word that I love- still waiting for an appropriate context to get that one in there... Try to use that one in everyday convo at least once a day..."Embellishment" is another- alot of guys on this site do that often....