What firm has the best syndicate Model

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Apr 5, 2011 5:43 pm

Merrill Lynch sucks for syndicate.  You can't DVP anything.  I have a client base that what easily do 300-500 in production just on syndicate.  I hear morgan stanley is the best, I really want to make the move over there but don't know if it is wise.  I am a rookie & I partnered up with a senior guy to get allocations and he just got his allocation taken away my management.( He is a shady guy, I will leave it at that).  I can't get any allocation on my own.  I know this is not the best way to build a business but What I was using it for is lead time until all my cold calls pays off.  I have been in the business for 6 months and I am only now starting to see my cold calling pay off (long lead time).  I am afraid if I don't have the syndicate I will fail out before I truly make it.  I make 200 calls a day and work hard than anyone in the office.  Would going to morgan stanley make a difference?  My thought process is I don't really have anything of a substainial book so I rather go build a business that is syndicate friendly.  PLEASE ANY ADVICE OR FEEDBACK WOULD BE GREATLY APPRECIATED

Apr 5, 2011 6:30 pm

Ricky, if you "failed" at Merrill Stench, you'd get a job elsewhere in a heartbeat.

Ricky, part of the success of doing IPO biz, is your enthusiasm, the limited availability, the excitement of the game. There is nothing to say that you cannot package up other strategies in this biz, to do similar.

Back in the early 90s, I partnered up with a guy, we were both fairly new in the biz. He had grey hair, and he was a total number cruncher. I was a prospector, and blue chip value stock picker. He created a valuation model for international closed end funds, and we traded them pretty frequently. We were really moving, and could have been huge. Unfortunately, I needed to leave the state because of my young daughter. He later lost his way, because I was the solid compass guy.

Anyways, we created an exciting investment program, that had money turnover, and we believed in it. It attracted clients, and money.

Again, it's not the IPO, it's YOU.

Never give up Ricky. In the years ahead, you'll have your ups and downs, but if you are die hard, hard core, you'll be a big success.

Apr 5, 2011 8:08 pm

Thanks.....Bigfirepower I have always valued your words and opinions on this board.  Thank you for your insight.  I want to be a little clearer and I do not have many ipo & secondary clients, I only have one large one that has been a family friend for 15 years.  He currently gives other brokers on the streat 450,000 in production.  He's got a bunch of different entities so I know for a fact he currently gives another morgan stanley broker 450,000 in gross.  What should I do......

Apr 6, 2011 8:03 pm

I'd also be interested in learning which wirehouse has the best syndicate model. 

I'm in the midst of the interviewing process with ML and MSSB. I want to go with the firm that I can gather assets the Bond Guy's way.

Apr 8, 2011 10:29 am

???

Apr 8, 2011 12:42 pm

Wannabe, you might try to interview with some other firms, do some research. The two you mentioned are moving away from the Bond Guy approach, are much more into selling financial happy meals.

Jan 18, 2017 12:43 pm

Hi Ricky,

Just curiuos how your syndicate business is doing and what firm you ended up joining. I am an individual investor who plays the syndicate calander and am always looking for more.

Jan 19, 2017 12:19 pm

@mac8440,

I recently joined a team and we're in the top 20 at our firm. We're happy brining on new clients.

I'd be happy to connect if you're interested.