i didnt use personal portfolio much when i was there, i thought it was pretty limited as to what managers/ etfs you could use

[quote=SaySo]Mike is a dushbag. MS FA Trainees have “Financial Advisor” on their business cards. Is Morgan deceiving clients with that title?



The training program gives 1 year to reach our goals, I was given 9 months.



The ONLY 2 “success” stories of the program only made it by (1) landing
a big client in the last few weeks of the 1 year or (2) with help of a
senior FA.

[/quote]

Bad spelling.

Negative attitude with a tendency to blame others for your failures, and discredit the success of those around you by saying ‘they got a lucky break’.

Casting about immature and unprofessional insults.

Sorry things didn’t work out for you at MS, but I’m sure with your attributes you’ll go far in this business.  Good luck!

[quote=xmsbroker][quote=mikebutler222][quote=xmsbroker][quote=mikebutler222][quote=blarmston]

"Just ask the Morgan Stanley Funds wholesaler if we're pushing proprietary funds.  MS has the best platform on the street that includes non proprietary funds, outside money managers, and ETF's.  You're going to have to find a new pitch when you come accross an MS client."

Oh I do, my friend... My pitch is nice... Always evolving, improving, and always having MS clients sign a CRA and some ACAT's...

[/quote]

Feel free to lie to people if you like Blarmston, but there's no pushing of funds that I've seen. That’s a lesson already learned at MS, and learned the hard way. The fact is if you ACAT a mutual fund-filled account from ML, you'll see ML's core funds in it, the same applies to SB or UBS accounts with mutual funds. If you ACAT a Jones or AGE account you‘ll see a handful of familiar names, even though they‘re non-proprietary.

OTOH, the other writers have made good points about the platform and how non-proprietary it is. In fact, you'd better hope the guys talking to your clients aren't showing them the Personal Portfolio platform that combines SMAs, load-waived, no-load or institutional mutual funds, ETFs in a single account number, with reasonable fees, all free of proprietary names.

[/quote]

have they finally instituted the true UMA theyve been talking about forever?  i thought different SMAs required different account numbers

[/quote]

We've been propagating a boatload of new acronyms around here, so pardon my ignorance, what's a UMA? Also, the Personal Portfolio Account allows for multiple SMA managers, ETFs, load-waived no-load and institutional funds in a single account number. You can combine six sectors/styles and the minimums are pretty low. Seems like there are added enhancements every week.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[/quote]

unified managed account

[/quote]

Thanks, and what's the diff between that and a DMA?

[quote=xmsbroker]i didnt use personal portfolio much when i was there, i thought it was pretty limited as to what managers/ etfs you could use[/quote]

I don't know when you left, but it's evolved tremendously in size and scope in just the past six months or so. Updates and enhancements are, no exaggeration, weekly events and the end product goal (we’ve all been shown the “where we’re going with this” plan) looks impressive.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Although the track record of Bob Dol- advised funds are pretty solid (especillay his Large Value and Large Core efforts the past 5-7 years), I do not use ML funds... From what I have seen, and admittedly I havenbt done much research into ML's fund offerings, the only other fund I would potnetially use is the Global Allocation fund...

And MB, to answer your question, the Focus One is still around, although that is a product I do not use....

And rest assured, I have no need to lie when making comments on this board... It has been MY experience that whenever I run into MS statements, they seem to be filled with prop..... I am not that intelligent or motivated enough to lie with my comments here.... too lazy and doesnt really get my going you know?? Now, Jaime Pressley.......

[quote=mikebutler222][quote=xmsbroker][quote=mikebutler222][quote=xmsbroker][quote=mikebutler222][quote=blarmston]

"Just ask the Morgan Stanley Funds wholesaler if we're pushing proprietary funds.  MS has the best platform on the street that includes non proprietary funds, outside money managers, and ETF's.  You're going to have to find a new pitch when you come accross an MS client."

Oh I do, my friend... My pitch is nice... Always evolving, improving, and always having MS clients sign a CRA and some ACAT's...

[/quote]

Feel free to lie to people if you like Blarmston, but there's no pushing of funds that I've seen. That’s a lesson already learned at MS, and learned the hard way. The fact is if you ACAT a mutual fund-filled account from ML, you'll see ML's core funds in it, the same applies to SB or UBS accounts with mutual funds. If you ACAT a Jones or AGE account you‘ll see a handful of familiar names, even though they‘re non-proprietary.

OTOH, the other writers have made good points about the platform and how non-proprietary it is. In fact, you'd better hope the guys talking to your clients aren't showing them the Personal Portfolio platform that combines SMAs, load-waived, no-load or institutional mutual funds, ETFs in a single account number, with reasonable fees, all free of proprietary names.

[/quote]

have they finally instituted the true UMA theyve been talking about forever?  i thought different SMAs required different account numbers

[/quote]

We've been propagating a boatload of new acronyms around here, so pardon my ignorance, what's a UMA? Also, the Personal Portfolio Account allows for multiple SMA managers, ETFs, load-waived no-load and institutional funds in a single account number. You can combine six sectors/styles and the minimums are pretty low. Seems like there are added enhancements every week.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[/quote]

unified managed account

[/quote]

Thanks, and what's the diff between that and a DMA?

[/quote]

not sure really, the uma was sort of a running joke in our office.  some regional hq guy would come every 6 months saying the uma was 6 months from implementation.  at first the idea was to let it be one big bucket that you could throw virtually everything in one account number.  i think they decided that wasnt going to happen so were making it a more streamlined fee account that could have etfs, sma and mutual funds 

[quote=blarmston]

Although the track record of Bob Dol- advised funds are pretty solid (especillay his Large Value and Large Core efforts the past 5-7 years), I do not use ML funds... From what I have seen, and admittedly I havenbt done much research into ML's fund offerings, the only other fund I would potnetially use is the Global Allocation fund...

And MB, to answer your question, the Focus One is still around, although that is a product I do not use....

And rest assured, I have no need to lie when making comments on this board... It has been MY experience that whenever I run into MS statements, they seem to be filled with prop..... I

[/quote]

<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I mean, if we’re going to walk down this path on the subject of “pushing”, we might discuss Henry Blodgett

BTW, this is from 2002, and VK isn’t on it, but t seems like a case of “pot, kettle, black”

10-year performance of independent and brokerage funds

Fund family

Equity (%)

Fixed income (%)

Combined (%)

Pimco

11.32

7.21

9.76

American Funds

11.27

5.68

8.68

Fidelity

11.30

4.96

8.49

Vanguard

10.27

5.74

7.92

Oppenheimer

10.16

5.00

7.45

Franklin Templeton

9.68

5.42

7.07

Putnam

8.89

5.21

6.83

Smith Barney

8.32

5.56

6.60

American Express

7.33

5.52

6.42

Prudential

9.08

5.00

6.16

Merrill Lynch

8.54

4.59

5.80

Morgan Stanley

8.36

4.30

5.69

this topic is stale.  let's just end it, not blame anyone and all go about our day.

[quote=frumhere]

this topic is stale.  let's just end it, not blame anyone and all go about our day.

[/quote]

Show of hands? Everyone in favor?

Before we go I want to make it clear that everything I said to Blarmston was all in good fun, no harm intended 

[quote=mikebutler222]

[quote=xmsbroker]i didnt use personal portfolio much when i was there, i thought it was pretty limited as to what managers/ etfs you could use[/quote]

I don't know when you left, but it's evolved tremendously in size and scope in just the past six months or so. Updates and enhancements are, no exaggeration, weekly events and the end product goal (we’ve all been shown the “where we’re going with this” plan) looks impressive.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[/quote]

No joke, it's something new nearly every week.  Basically you just pick the allocation and the manager or fund that fits each slice.  Right now there are outside managers, ETF's and mutual funds.  There's a real estate slice as well.  By year end they will have a self directed slice, and an Alternative Investments slice.  All of this in 1 account with 1 flat fee and performance reporting.

With all the problems we have had, it's really a bright spot.  Our technology is quickly improving.

A client of mine got invited to a seminar last month.  He said to me, "This guy worked for my friend's Car Dealership last year!  Now he's some kind of financial expert? Give me a break."<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

The fact of the matter is that Personal Portfolio, Fund Solution, Portfolio Architect, Choice are all great solutions.  They are in fact, "Point & Click" solutions and do not require tremendous knowledge or experience. We can find like or similar solutions at a number of different companies.  Let’s face it, a former Car Salesman can assist a client through a questionnaire and “build a portfolio” utilizing any of these commoditized solutions.  Financial Advisor, Trainee, Wealth Manager, First Vice President, Associate Vice President….none are as important as the name that goes before the title.  Where and how that person has conducted themselves for a prolonged period of time will always hold value and people sense and flock toward integrity within financial services.

Perhaps, and I may be wrong in assuming this, just as important is the relationship with a person you can trust to "Captain the Ship".  I think Morgan Stanley has decided that hiring the guy who, "Stayed at a Holiday Inn Express last night", does not make him an expert in guiding client’s life savings through challenging financial times. 

"Before we go I want to make it clear that everything I said to Blarmston was all in good fun, no harm intended  "

Hey MB.... very little gets me going.... thick skin you know??? You seem to have it as well.... thats why in 8 years when you "see the light" and jump over to the 'good guys', I will have the corner office with the ocean view and you can grab the one next door....