Maybe with all the ML defections to your management team, in about 3-4 years you guys will once again be a respectable firm… ahhh… no, probably not…

[quote=blarmston]Maybe with all the ML defections to your management team, in about 3-4 years you guys will once again be a respectable firm... ahhh... no, probably not....[/quote]

Who's this talking about MS not being "respectable"? Would that be a broker from Henry Blodgett's ML, or would that be a broker from Jack Grubman's SB?

Stones, glass houses.

Haha… Just wanted to get a rise out of you all… Funny though… Blodget and Grubman were analysts in a separate division of those firms… research, as you may know, is a little different than the private client groups…

Hey, MS and Merrill don’t even compare to Primerica; they are not worthy to lick the sweat off of Primericas’ nuts if you want my humble opinion.  I don’t know why you guys waste your time pounding your chests when you both know you work for glorified chop shops. If I were you I’d get a clue and drop my application off at the local Primerica office and maybe they’d bless you with an appoinmtent. 

[quote=blarmston]Blodget and Grubman were analysts in a separate division of those firms... research, as you may know, is a little different than the private client groups...[/quote]

Huh? This was meant to be a gentle rub, but since you brought the subject up; both Blodget and Grubman were analysts producing research that was used by brokers in the "private client groups" (READ:retail). They directly impacted what brokers in those firms were doing, what they were saying to clients. Worse, they knew their research was bogus and was only being used to tempt the companies covered to use their firms for underwriting/banking business.

Honestly, you sound a bit confused about the structure of the firms. You sound as though you thought they were not producing research for the sell side and were only involved in banking/underwriting....

[quote=dude]Hey, MS and Merrill don't even compare to Primerica; they are not worthy to lick the sweat off of Primericas' nuts if you want my humble opinion.  I don't know why you guys waste your time pounding your chests when you both know you work for glorified chop shops. If I were you I'd get a clue and drop my application off at the local Primerica office and maybe they'd bless you with an appoinmtent.  [/quote]

Today at ML's the RIC report and Bernstein's analysis are good tools, but reps also have access to Jaywalk as well as some other third party rating systems for individual equities.

The days of spouting off a stock recommendation based on your firms analysts are pretty much over.  The older established reps are converting to annuitization (mostly in Consults and MFA which are both managed products), and the younger reps are going fee-based right out of the gate, hence the two years worth of salary.

[quote=BankFC]

Today at ML's the RIC report and Bernstein's analysis are good tools, but reps also have access to Jaywalk as well as some other third party rating systems for individual equities.

[/quote]

All Wall Street firms that were a party to the GRAS (global research analyst settlement, thank you again Blodgett and Grubman) have to provide clients with outside, independent research. At least some firms require equity tickets to reflect that a client has been informed of the opinions of these outside research sources, and those same sources are available on the firm's website for client access.

That's a fine thing, despite how it came about. My point wasn't that that isn't happening, it was a gentle poke back at someone who used the word "respectable" when he shouldn't have, given the nature of his galls abode.  

er, make that “glass abode”  

[quote=dude]Hey, MS and Merrill don't even compare to Primerica; they are not worthy to lick the sweat off of Primericas' nuts if you want my humble opinion.  I don't know why you guys waste your time pounding your chests when you both know you work for glorified chop shops. If I were you I'd get a clue and drop my application off at the local Primerica office and maybe they'd bless you with an appoinmtent.  [/quote]

Merrill Lynch/Morgan Stanley VS Primerica

Is real similar to...

The St. Louis Cardinals  VS  Rochester Jr. High School

Just my humble opinion

Could’nt agree more.  I don’t recruit for MWD, but in my opinion, I think it will be a great place to be in a few years.  Might be a controversial opinion…

[quote=BrokerRecruit]Could'nt agree more.  I don't recruit for MWD, but in my opinion, I think it will be a great place to be in a few years.  Might be a controversial opinion...[/quote]

No offense intended, but just what would a recruiter know about the current environment in any firm, much less what it might be in a few years? Isn't your job, basically, to convince people the grass is greener elsewhere?

I don't try to convince people to move.  It's their decision and I'm there to help them along the way.  I told a broker late last that I was working with to go to a competitor because it was a much better situation for him, losing a $20k fee.  The other opportunity was much more suitable for his business and he would have been miserable with my client.  I don't want someone calling me after 3 months telling me what a prick I am for "convincing" them to move. 

My colleagues are very different - some convince and some are very laid back in their approach.  I go into much greater detail with my brokers than others I know and work with.  I learn the climate within their office, their relationship with the BM, DD, RD, and so on.  I learn about their comp plan and any changes that may arise, or changes that have been encountered; deferred comp; business mix.  I walk away from a lot of "tire-kickers" only because it's not going to make sense when we really go into detail.  Tons of my recruiters out there will try to throw $hit to the wall in hopes that some sticks.  I try to be more prepared and do this in a way that makes me sleep comfortably at night.

So....in a nutshell, that's where I'm coming from.  And no offense taken.

iconsult100 said:

Merrill Lynch/Morgan Stanley VS Primerica

Is real similar to...

The St. Louis Cardinals  VS  Rochester Jr. High School

Just my humble opinion

Reply:

How do you figure?  Primerica is with Citigroup; by all measures the biggest player in the world.  Has to be a good outfit.  

Seriously though; before some people start believing me here (I don't have the time or energy to reply to the controvery this could generate).

I'm F*ckin' around!  'Nuff said.