From what I hear, it's kind of like being a junior advisor.  You join a team of advisors who focus primarily on high net worth households.  You learn from them, do some grunt work, etc.  You get a salary, but I don't know about commissions. 

It's a good program if you are part of a team who is really wanting another member for the long haul.

thanks

to me, it’s just a way to give Chairman Club producers hungry help that they do not have to pay for.

[quote=frumhere]to me, it's just a way to give Chairman Club producers hungry help that they do not have to pay for.[/quote]

There may be something to that. OTOH I think it's probably more an admission that you can no longer afford the low survival rate of a process that gets people through the exams, gives them some sales and organizational training and sets them loose with a phone and phone book. Today margins are too small, DNC lists too long, and the training costs too high to continue to use a methodology that worked when B shares and big commissions gave newbies some breathing room.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=frumhere]to me, it’s just a way to give Chairman Club producers hungry help that they do not have to pay for.[/quote]



From the little I know about this position, Morgan Stanley doesn’t pay
you for this position.  The advisor/wealth manager you are working
for does.