both are quility firms. focus on the office enviroment, branch manger, and compensation & goals.

thanks vin.

I have heard that sb still sends there trainees to texas or new jersey for two weeks.  Is that still cold calling or what exactly does that entail?

If its cold calling who are they calling?

SB sends you to Warren, NJ for two weeks. It’s sales training intensive. You go with a list of 1000 business leads generated at the branch level to cold call from training where trainers can link in on the calls. The days run from 7 am to 6 pm (8 pm on one night only) and include Saturday…you work 13 of the 14 days.

Slight correction - yes you go to Warren NJ for two weeks, and bring 1000 leads to call. But Mom’s post might give the impression that the entire two weeks on cold calling. I’m sue this wasnt the impression intended. You do spend time calling and you do have the trainers listening in and giving constructive criticism. But the entire time is not spent on this. Its a week at most, i believe a little less. A lot of time is spent learning how to put a financial plan together and present it. You are given case studies, you role play 1st and second meetings (first being discovery, second being presenting the plan). You arre given help in marketing yourself, presenting your value prop , etc.

So would you say that Smith Barney has “better” and more formalized training then morgan stanley.

Also if I go to a MS office how do I find out which branch does more extensive training.  GREAT STUFF on the SB Training.

Can anyone give any more detail on the MS training Reach for excellence program.  I heard there have been some changes in the last couple years.

So would you say that Smith Barney has “better” and more formalized training then morgan stanley.

Also if I go to a MS office how do I find out which branch does more extensive training.  GREAT STUFF on the SB Training.

Can anyone give any more detail on the MS training Reach for excellence program.  I heard there have been some changes in the last couple years.

Thanks Sports: No, I didn’t mean to imply that ALL you do is cold call. I should have been more clear. PSI  is sales intensive: methods, approaches, role playing, friendly competition between tables (about 8 per table of trainees).

Intersession training (at 6 mos production) is now CBT and conference call based. It’s no longer at the regional hq.

PSII is at 10 mos production. That’s the next visit to Warren.

Didnt know that they went to conference calls for the second session. I’m sure its budget.

I would say go to the firm or branch were the most brokers have torched their accounts during this market.  If like pas  down markets, the rats will leave the ship soon and you will be there to inherit the accounts.  When you call the clients you can sayyou never sold that crap and they will stick with you.

Can anyone give some detail regarding both firms training for the 7, 66, and 63? Thanks

Regarding MS.  Their training program has changed.  That said, it was very good at consultative selling.  They also have the trainees do case studies and practice opening and closing meetings to try and close new business.  The training used to be in Dallas, but I believe it has been moved to Westchester NY.

anyone know about compensation during training for someone coming in from another industry with a good network and solid background?

MS used to take 75% of your previous compensation or up to a certain dollar amount.  Geography comes into play too (higher salary in NY vs, say Alabama).  Also, your experience and book of contacts play a role as well.  If it appears that you have enough qualified contacts to hit the ground running, you may be able to negotiate more.

Which did you choose and how are you doing at it? 

I am considering the same currently. 

ODS