Best firms to work for over the long haul
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I was a broker for A.G. Edwards for 5 years then moved to Prudential for 3 years, then left to start my own business not related to the brokerage business. I sold my business and am getting back into the brokerage business and starting over as a trainee. I have offers from Morgan Stanley and Edward Jones. I need help deciding which will be the best choice for the long haul. Advise from brokers who know both systems would be very helpful.
Thanks, UncertainI work for EDJ, been here a long time and I love it. There are several ex-EDJ people on the board who hate EDJ and will detail why. Asking who is the best firm is like asking what actress is the prettiest.
I am primarily looking at the two fims (MS and EJ) for the training, perks, benefits and the potential income over a fifteen year span. If my gross production was the same number at either firm, which would result in the higher payout over that span and create the better retirement.
They are the only two I have had offers from but only spoke with three firms. I have been out of the business for 5 years.
[quote=uncertain] If my gross production was the same number at either firm, which would result in the higher payout over that span and create the better retirement. [/quote]
If you look over the various posts you’ll see the answer is pretty clear cut if that is your main concern.
I don’t want to be perceived as a basher (I’ve never worked at either) so I’ll let you look at a few threads.
Personally, I don’t think you could have pick two polar opposites better… I work for Jones and wouldn’t think to work for MS…
Miss JI would do Jones for th mandatory 3year sentence…once you are doing 300K+…go out on your own, you will have more freedom to do what is right for your clients, plus you will get a big raise.
What about the 1 year non-compete clause they make you sign. How can you leave and take your clients with you?
I work for EDJ, been here a long time and I love it. There are several ex-EDJ people on the board who hate EDJ and will detail why. Asking who is the best firm is like asking what actress is the prettiest.
Salma Hayak, since you asked.
I did get the same threats from MS about the short time frame to produce or your out the door. I know this is a tuff business and you have to work your but off for the first three years before you can go to the bathroom, but it is nice to have some support, training and guidence to be the best you can be.
[quote=henryhill] I work for EDJ, been here a long time and I love it. There are several ex-EDJ people on the board who hate EDJ and will detail why. Asking who is the best firm is like asking what actress is the prettiest.
Salma Hayak, since you asked.[/quote]
Good call. I second that.
I stay start at EJ and do well—then you write your own ticket with flexibility to move “up” from EJ (or indy). Industry wide, a move from MS is considered a moved “down” unless to a few other firms. Plus, I think EJ probably has better sales training, which may or not be a big issue if you’ve done this before.
Although the “go where you want to end up” advice sounds nice, it is a reality that the vast majority of people in this business change firms at least once.
Do you know anything about starting out at MS. It seems that a lot of people start and stay at EJ. Do you think it’s because EJ is that great to work for or the brokers don’t know the difference?
[quote=MISS JONES]Personally, I don’t think you could have pick two polar opposites better… I work for Jones and wouldn’t think to work for MS…
Miss J[/quote] How long have you worked for EJ and why do you feel so strongly that you would never work for MS?