I have recently graduated from college, and I have been interviewing at ML and SB. Today, after talking with the asst. branch manager at ML, we both agreed that being in a sales associate role or investment analyst role would be a great learning tool for a year or two. What are your thoughts on this. SB is wanting me to jump into their FA program under the guidence of two FA's with whom I developed a relationship with during my internship. I personally feel that being the SA or IA at ML would give me a glimpse into how the business is ran and different ways people go about it, which would better prepare me for being a FA.
Any insight on the role of a investment anaylst would be appreciated...(at Merrill)
-this may be in the private banking division as opposed to the private client
I have recently graduated from college, and I have been interviewing at ML and SB. Today, after talking with the asst. branch manager at ML, we both agreed that being in a sales associate role or investment analyst role would be a great learning tool for a year or two.
Boomer, what the guy at ML is telling you is that you're not ready for prime time, so avoid jumping into a program at Smith Barney if they offer one.
This is a career where being older is a asset and Merrill sees you as too young, which should not be ignored just because a guy at Smith Barney might not. One of the reasons so many people fail is because managers hire too many youngsters.
Is Merrill offering you a Sales Assistant or Investment Analalyst job, or is the Assistant Manager just talking about various alternatives you should consider?
I agree with you…I feel that 2 years in another role would allow me to continue to learn the products and be more prepared when I start the program. ML feels that I will be successful, they want me to be in their office. The manager said that taking a position like this would set me up for long term success as opposed to be more risky now. SB feels that I am prepared now, and I would have a nice setup with two more mature brokers who like me and what I can bring to the table. I do feel like working in another role for 2 years would allow me to get my licenses and network and prepare myself for when that tow year clock starts ticking. ML has offered both positions…the sales associate and the investment analyst. I am just trying to determine what would best prepare me for my fa role down the road.
listen to the ML branch manager. I actually made the switch recently to ML and there is nothing more rewarding (financially and career wise) then to be successful in a wirehouse like ML (unless your independent...but thats another story).
Im a young guy myself and being an FA in ML is no joke (white hair pays off, im even thinking of coloring my damn hair...LOL)! You should be thanking the branch manager for this opportunity (seriously).
I agree with the ML manager.
14 years ago, I did the same thing they are suggesting, and it paid off
very well compared to others who joined the business without baby-
stepping their involvement into the advisory business. Actually, there
were two of us from the same office who started out as SA’s. We are both
still alive and kicking.
Believe me, it will give you a unique and protected look at the right way,
and wrong way to deal with clients.
I’d opt to accept an SA role, rather than an analyst role, through ML.
I’m not sure what you’re talking about with the Investment Analyst
position…I work at ML and those guys are all in NY. They are
not hired/recruited at the branch level. The corp office targets
IVY schools for those roles.
He mean Investmen Associate- A non-number, non-commission paid team member with sales and service dutiies beyond a CA.
We have IA’s in our office on the larger teams and their primary role is to run the money. They sit in front of the workstation and analyze portfolios, place trades, rebalance, etc, etc… Personally, I enjoy that kind of work but I also enjoy getting out there and meeting with clients and prospects…