[quote=BigRed]I am due to start at UBS in a year (I am still in college
but already have a tentative offer) and want to be able to start
working as soon as possible. I heard that you can go to Ameriprise and
get them to sponsor you for the Series 7. I would like to do this in
order to be able to get up and running quicker. Are their any negative
consequences to this?[/quote]



Ask for a refund on your college education.



If you play your cards right, you can annoy both AMP and UBS while getting a dirty record that precludes you from any further work in the industry.

Don't do what you're thinking.  Getting the Series 7 isn't the important part of being able to get up and going (sure, you have to pass it, but that's not the big barrier to success). 

Go get a part-time sales job -- anything will do, but being at least partially commission based is important.  Learn how to sell.  Read books on sales.  This is will help you tremendously -- plus you'll have a chance to see if you want to work in sales (because that's what the UBS job is .

I am a junior in college and have my series 7 ... just go to UBS and ask them to sponsor you if you want to take it that bad.  I found it easier to get all the testing out of the way during school so I start earlier (now) and get some experience trying to sell.  If UBS won't sponsor you, don't take the test till you get out - it's like AllREIT said, you are just asking for trouble.

So oldlady, would you say I am better spending my time now at Northwestern Mutual learning the sales process and Al Granum ratios than playing this game with regulators?

[quote=BigRed]I am due to start at UBS in a year (I am still in college but already have a tentative offer) and want to be able to start working as soon as possible. I heard that you can go to Ameriprise and get them to sponsor you for the Series 7. I would like to do this in order to be able to get up and running quicker. Are their any negative consequences to this?[/quote]

YOU are not very smart or good.  You will fail.  This not about doing things quick, it is about doing things right.  For yourself.  For the customer, and for your company.

You are stupid to want to use Ameriprise and then dump them.

You are even more stupid because Ameriprise is a crappy company for ANYTHING

[quote=BigRed]I am due to start at UBS in a year (I am still in college but already have a tentative offer) and want to be able to start working as soon as possible. I heard that you can go to Ameriprise and get them to sponsor you for the Series 7. I would like to do this in order to be able to get up and running quicker. Are their any negative consequences to this?[/quote]

Ask yourself why you chose UBS?  Did you like the branch manager?  Keep in mind there will probably be a new manager in 2 years.  Have you compared training programs?  Are you looking to go at it alone or join a team?  Instead of focusing on the firm, you should focus on all of the people you are going to call and beg to give you an "opportunity" to manage their money.

Also, the 7 is the first test.  Then you have the 66, probably the 31, and then insurance as well.

BigRed,

If it is a good Northwestern agency and it cares about their interns, it could be a great place for you.  You'll learn to sell and learn about insurance.  Both of these things are important to your career regardless of where you start.  Much can change in a year.

Ask yourself why you chose UBS? Did you like the branch manager? Keep in mind there will probably be a new manager in 2 years. Have you compared training programs? Are you looking to go at it alone or join a team? Instead of focusing on the firm, you should focus on all of the people you are going to call and beg to give you an “opportunity” to manage their money.

Also, the 7 is the first test. Then you have the 66, probably the 31, and then insurance as well.

Only choose NML if you want to peddle life insurance pretty much exclusively.  They are more cult like than Jones.

Your description may be accurate, but it will still help with the most important thing...learning how to sell.  It will also help to make sure that he doesn't go through his career with a gaping knowledge hole when it comes to life and disability insurance.

I actually think that "peddling" life insurance (and DI) would be a great way for him to spend his time before he starts at UBS.

Both are good firms.  Which is better?  It really depends on the local shop.  I will say that I have a fair number of connections in two cities and in both places the Northwestern guys are outearning the UBS guys.

anonymous-I agree, a great insurance guy will likely outearn an
advisor.  I started at NML and while they may teach you how to
sell, I think plenty of other places would do likewise without being
captive only selling NML policies.  They will discourage a new
agent from seeking fund business and any sort of planning career until
they show they can sell insurance(s).  I completely agree many
advisors leave way too much on the table insurance wise, but I also
think the hig(er) commissions on the insurance products will make a new
advisor limit his prospecting and not give him/her an adequate idea of
just how much prospecting it will take to build a practice.  1-2
insurance cases a month can feed a new agent, but 2 advisor accounts
will not.  I am in a smaller Midwest town, so maybe my NML branch
is different.  I am sure larger metroploitan areas have more
successful “planners” than here.

::bump::



we’ll fix this troll problem yet.



don’t feed 'em, just bury 'em!

Ok so if my offers are in Columbus, OH, which shop should I go to, NM or UBS? What if ML were available, should that change my plans?

[quote=BigRed]Ok so if my offers are in Columbus, OH, which shop should I go to, NM or UBS? What if ML were available, should that change my plans?[/quote]

I would go to NM in a heartbeat, especially if you have little or no sales experience.  At least the gang at NM will teach you how to sell.  That will NOT happen at UBS.

Morgan Stanley has a good office in Columbus.  I like the manager as well.  If you want more details, PM me.  And for the record I do not work for MS.