Wirehouse for new FA?
With all the consolidation, is going to a wirehouse a good idea for someone starting out fresh as an FA? Granted, I have a decade of experience in "the biz", but not as an FA. If you think it is still a good idea, which wirehouse(s) would you recommend, and why?
Your input is greatly appreciated.
As additional background, I was considering SB, MS and ML, with a strong lean toward SB. In addition to the uncertainty surrounding the new MS/SB venture, I am now reading about private discontent among existing SB brokers and that they, and their clients, are fleeing from SB like rats from a burning building.Talk amongst yourselves!
Talk with the BOMs at the wires in you’re town to get a feeling for where you think you’d have the best chances of succeeding.
I would stay clear of any wires that have been in the news. Prospecting is tough enough, when you mention that the firm you work for has needed a bailout…it’s just one more hurdle you don’t need to jump.I would look at RBC Wealth, Jones, or a regional firm/bank.
[quote=Baba Booey]I would stay clear of any wires that have been in the news. [/quote]
I think that eliminates the wires!