oh and to add to that, I got a call from a few banks like PNC bank and NYLife…both which I declined.

It sounds like you’ll probably be ok. Keep us posted.

I sure will bobby, I submitted my resume and application friday of last week...How long does it usually take for them to contact you?

[quote=CueYouWhy]

I sure will bobby, I submitted my resume and application friday of last week...How long does it usually take for them to contact you?

[/quote]

I don't know. When I was in your shoes, I called the branch managers and made appointments to meet them in person.

ML is recruiting me from NMFN after hearing about my success there

[quote=CueYouWhy]

Hey folks,

I am working for an insurance company right now, and I hate it! my passion lies with the brokage business. We are forced to focus on insurance products and limited to mutual funds and wrap accounts. I applied for ML, MS, and UBS. I am a fairly decent producer, and recieved many awards with being the top 10% of the agency...are there any chances of getting in? Please help me...I need to get out of here NOW! Thank you all ahead of time for the replies.

[/quote]

Where are you located?

If in NY, and interested in talking to Smith Barney, PM me back

[quote=Bobby Hull][quote=CueYouWhy]

I sure will bobby, I submitted my resume and application friday of last week...How long does it usually take for them to contact you?

[/quote]

I don't know. When I was in your shoes, I called the branch managers and made appointments to meet them in person.

[/quote]

Okay, thats probably a better way of doing it. Thanks

[quote=pratoman][quote=CueYouWhy]

Hey folks,

I am working for an insurance company right now, and I hate it! my passion lies with the brokage business. We are forced to focus on insurance products and limited to mutual funds and wrap accounts. I applied for ML, MS, and UBS. I am a fairly decent producer, and recieved many awards with being the top 10% of the agency...are there any chances of getting in? Please help me...I need to get out of here NOW! Thank you all ahead of time for the replies.

[/quote]

Where are you located?

If in NY, and interested in talking to Smith Barney, PM me back

[/quote]

I wish I was located in NY...no I'm in Washington DC area

ML, MS, and <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />UBS are great places to look to.  I'm a big fan of UBS currently.  There may be some good regional opportunities in DC.  You are smart to stay away from PNC. 

I'm sorry to ask this, but "my passion lies with the brokage business." what do you mean by this?

Wirehouses aren't interested in people who are interested in the brokerage business.

To be clear, what I mean by the "Brokerage business" is one where the individual broker chooses which stock and bonds and mutual funds etc to buy for a client and then manages that account for the client. A broker makes his money by the buying and selling of shares for the benefit of the client.

What  the wirehouse "Brokerage Business" means to me is: A place where the individual decision making is discouraged, the individual management of accounts is discouraged, the Financial "Consultant"'s job is to be an asset gatherer who makes his money by placing client funds into "manged Money" products and then goes out to find more assets to cram into these self same products (which generally suck BTW).

Just want you to understand that you might be jumping from the fire into the frying pan. It should be better than the fire, but only by a matter of degrees. If your objective is to be an actual Stock Broker, don't mention that at any interview with a wirehouse, it's not what they want you to be.

Good luck to you.

I agree, at the wirehouse you will be amanager of thrid party managers and be asked to get 6MM to 10MM in 12 to 18 months.  Can you do that?  Do you want to do that?

[quote=Whomitmayconcer]

I'm sorry to ask this, but "my passion lies with the brokage business." what do you mean by this?

Wirehouses aren't interested in people who are interested in the brokerage business.

To be clear, what I mean by the "Brokerage business" is one where the individual broker chooses which stock and bonds and mutual funds etc to buy for a client and then manages that account for the client. A broker makes his money by the buying and selling of shares for the benefit of the client.

What  the wirehouse "Brokerage Business" means to me is: A place where the individual decision making is discouraged, the individual management of accounts is discouraged, the Financial "Consultant"'s job is to be an asset gatherer who makes his money by placing client funds into "manged Money" products and then goes out to find more assets to cram into these self same products (which generally suck BTW).

Just want you to understand that you might be jumping from the fire into the frying pan. It should be better than the fire, but only by a matter of degrees. If your objective is to be an actual Stock Broker, don't mention that at any interview with a wirehouse, it's not what they want you to be.

Good luck to you.

[/quote]

hmm..Really? I didn't know that, so you think I should stay with the insurance company, I guess I just feel so limited with a such a small platform to play with and a series 6. But if you say that either way I'm going to be asset gathers...I might as well stay here then because thats what I am doing essentially anyways, just with a little bit more demand for the insurance side. Thanks for the input I need it.

[quote=bXpress]I agree, at the wirehouse you will be amanager of thrid party managers and be asked to get 6MM to 10MM in 12 to 18 months.  Can you do that?  Do you want to do that?[/quote]

I guess..to answer your question: I'm doing it here anyways plus selling insurance. I would thought they actually encourage you to choose your own stocks instead of putting everything into manage account. Thanks

If you’re doing it all “anyways[sic] plus selling insurance”, why do you ask about making a move?  Do you think it’s any different anywhere else?

[quote=CueYouWhy]

I guess..to answer your question: I'm doing it here anyways plus selling insurance. I would thought they actually encourage you to choose your own stocks instead of putting everything into manage account. Thanks

[/quote]

You don't know the first thing about picking your own stocks.  Stick with managers or indexes.

[quote=Philo Kvetch]If you're doing it all "anyways[sic] plus selling insurance", why do you ask about making a move?  Do you think it's any different anywhere else?[/quote]

I'm doing it all except for individual stocks/bonds/and ETFs. Because the company just deals with mutual funds...again very limited platform. It may be the same concept at a wirehouse, but at least I can pick individual stocks.

Yeah, you are right...I'd suck but just to say you can do it is always good.

[quote=gad12][quote=CueYouWhy]

I guess..to answer your question: I'm doing it here anyways plus selling insurance. I would thought they actually encourage you to choose your own stocks instead of putting everything into manage account. Thanks

[/quote]

You don't know the first thing about picking your own stocks.  Stick with managers or indexes.

I came from NY Life to a full service firm. The transition is easier than expected. Try to keep your contact and client list close to you, as you should already have a base to work with.

will do, thanks Matt