Under 400K Producers (MS)

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Apr 11, 2006 9:31 pm

start packing you duffle bags over at Morgan.  End of August is D-Day. 

Apr 11, 2006 10:26 pm

Under 400K?

Apr 11, 2006 10:37 pm

BS.

ML has the highest standards among the wires, and I guarantee you they aren't going to be asking $350,000 producers to hit the bricks anytime soon.  So neither will MS.

If you produce $250,000 at any firm you are safe (except GS and the likes of course).


Apr 11, 2006 10:54 pm
BankFC:

BS.

ML has the highest standards among the
wires, and I guarantee you they aren't going to be asking $350,000
producers to hit the bricks anytime soon.  So neither will MS.

If you produce $250,000 at any firm you are safe (except GS and the likes of course).






GS has a cool program.

Apr 11, 2006 11:16 pm

I don't know much about it, other than they cater to the UHNW set...care to elaborate?

Apr 12, 2006 7:23 am

I know a guy who works in a midwest market.  They paid him a fat
salary to get a program up and running, focussing on 10 mil plus
clients.  He went in and built a team, made basic presentations
and had portfolio managers come in as guns.  Within a couple years
he says he built an office with 1 bil in assets.  He now has 3
offices, NY, CA, and Chicago.  He is 35.

Apr 12, 2006 8:55 am

I don't know what everyone else thinks, but I wouldn't be surprised if Gorman tried to expand on the standards that he helped initiate at ML.

Apr 12, 2006 9:10 am

what were the goals at ML for different LOS's?

Apr 12, 2006 9:47 am

mikebutler is in trouble.

Apr 12, 2006 10:20 am

What happens in August? What information do you base that statement on?

Apr 12, 2006 1:40 pm
rightway:

I know a guy who works in a midwest market.  They paid him a fat salary to get a program up and running, focussing on 10 mil plus clients.  He went in and built a team, made basic presentations and had portfolio managers come in as guns.  Within a couple years he says he built an office with 1 bil in assets.  He now has 3 offices, NY, CA, and Chicago.  He is 35.


Geez...seriously, that is how it is done.  Nice to be him.

Apr 12, 2006 1:42 pm

Man, things must be rough for that guy.  Next thing you know, he'll be homeless, shuffling along the sidewalk in tattered clothing humming the theme to Knight Rider to himself.

Apr 12, 2006 2:09 pm
remotecontrol:

mikebutler is in trouble.



Apr 12, 2006 2:11 pm
BrokerRecruit:

Man, things must be rough for that guy.  Next thing you know, he'll be homeless, shuffling along the sidewalk in tattered clothing humming the theme to Knight Rider to himself.



I hear that now he's a motivational speaker who lives in a van down by the river...

Apr 12, 2006 2:11 pm
fritz:

start packing you duffle bags over at Morgan.  End of August is D-Day. 



Gee, is this the 4th or 5th prediction of a cut at a level which would eliminate about 40% of the firm's brokers? It's pretty funny how little some people understand about the this business and about statistics. 

Apr 12, 2006 2:13 pm
joedabrkr:
BrokerRecruit:

Man, things must be rough for that guy.  Next thing you know, he'll be homeless, shuffling along the sidewalk in tattered clothing humming the theme to Knight Rider to himself.




I hear that now he's a motivational speaker who lives in a van down by the river...


I LOVE that guy 

Apr 12, 2006 8:09 pm

Went to early training with Sanchez, who was smarter than me and went into "management," (didn't too him too much good long term).  He mentioned layoffs last year in the 200-250 range, a few months before the ax fell (225,000).  On his way out the door last month mentioned 350,000 to 400,000 coming this year.  I am a 350,000 producer,  on his way out the door, basically told me "get to 400K soon or find another shop before the end of July.  Those of you who care, good luck....and those of you who work at Morgan and don't believe it, you'll be like the others last year who were told to hit the bricks (with about 5 seconds notice).  Would not have gone into this detail other than the stupid comment from the guy saying 250,000 is safe anywhere.

Apr 12, 2006 8:17 pm
joedabrkr:
BrokerRecruit:

Man, things must be rough
for that guy.  Next thing you know, he'll be homeless, shuffling
along the sidewalk in tattered clothing humming the theme to Knight
Rider to himself.



I hear that now he's a motivational speaker who lives in a van down by the river...





"Well....What's that Dad?  It seems we have a little Billy Shakespere!"

"Actually Matt, we encourage his writing."

"Will you just SHUT YOUR YAPPER!!"

Apr 12, 2006 8:22 pm
mikebutler222:
joedabrkr:
BrokerRecruit:

Man, things must be rough for that guy.  Next thing you know, he'll be homeless, shuffling along the sidewalk in tattered clothing humming the theme to Knight Rider to himself.




I hear that now he's a motivational speaker who lives in a van down by the river...


I LOVE that guy 




He's dead. I miss him and those like him who were done too soon.

Apr 12, 2006 8:31 pm

"Went to early training with Sanchez, who was smarter than me and went into "management," (didn't too him too much good long term).  He mentioned layoffs last year in the 200-250 range, a few months before the ax fell (225,000).  On his way out the door last month mentioned 350,000 to 400,000 coming this year.  I am a 350,000 producer,  on his way out the door, basically told me "get to 400K soon or find another shop before the end of July.  Those of you who care, good luck....and those of you who work at Morgan and don't believe it, you'll be like the others last year who were told to hit the bricks (with about 5 seconds notice).  Would not have gone into this detail other than the stupid comment from the guy saying 250,000 is safe anywhere."


Such turmoil and uncertainty over there at good 'ol Morgan Stanley. What will the clients do when/if there is another cut??? Who will be able to help them???  So many unknowns.... Clients are aware of the turmoil and changes,etc.... Lets just say I have stepped up the communication with my 34 prospects who have MS. If/when the cuts are made, I will be sure to lob in a friendly call to see how they are doing....... ahhhh... business opportunity.... I LOVE IT.....