Financial Advisor
Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts
James J. Valentine (Hardcover) McGraw-Hill 2010-12-13
Price:
$85.00
Answers
I'm sort of new to the business, but do have sales background. I'm sure it'll be demanding, but is there actually a good base salary involved? Or is it pure commission? Thanks everyone!
Any word on what the base salary would be? Is it worth it? I don't have any offers elsewhere, although I did apply for Edward Jones, and Raymond James elsewhere. Currently in central Ohio. Thanks!
As a trainee, you will get a (pretty low) base salary. But, the base salary phases out as your training progresses.
If you go to UBS, they will try to match their base salary to what you are currently making. For instance, before I started at UBS, I was already making pretty good money in another organization. So, they paid up to half of my salary as base salary for being a FA in their company, which was pretty good.
But, I don' t think MS has a program like that.
Morgan Stanley Smith Barney Financial Advisor Mark Curtis on Bloomberg discussing the merger between Morgan Stanley and Smith Barney.
Was 24k a couple years ago. If you don't pass your test you can get terminated immediately. 1 out of 3 make it after 3 years. Also, you get terminated if you pass your test and end up in the 4th quartile after 3 mos. If I were you I would pursue looking for a bank financial services trainee program. Hard to find but they are out there and they are less cut throat.
Morgan Stanley is good if you've already got a lot of connections with money who are willing to invest. My friend was a college football player for a division 1 school where a lot of players went to NFL. He did really well and got his name out there by word of mouth. Unless you want to be the cold calling king trying to find a needle in a haystack it really gets old quick. Look for a cush job.
Do they have:
Series 6?
Series 7?
Series 63?
Series 65?
Life and health license?
Property and casualty license?
Long term care certification?
Do Morgan Stanley advisors focus on investments only or do they make insurance recommendations as well?
The following are the qualifications required for the post :-
Education :-Bachelor’s Degree (Bachelor’s Degree not required for candidates with more than 5 years of sales experience)
Requirements :-
Demonstrate ability to sell
Excellent problem solving, networking, communication, interpersonal and organizational skills
Interest in investment and financial markets
Demonstrate excellent work ethic and ability to multitask
completing it. Do you owe them money?
That really depends on the situation. You must read your contract very carefully. Typically there are reprecussions if you choose to leave in order to join a competitor. If you are struggling as an Advisor and come to the realization that it isn't the career for you, then that is another story. I would suggest discussing that question with a branch manager.
I think I can land one of these stints but I was wondering what the starting salary would be? Does anyone know?
Really? That can't be right? I am sure they have a bas pay.
Most financial advisor jobs are 1099 - no base pay
you earn what you are worth
Morgan Stanley Smith Barney Gives Retention Pay - Financial ...
Advisers at Morgan Stanley Smith Barney who were eligible for retention packages as a result of the brokerages’ merger will get their checks, which range from 30% to 75% of their production in cash, Tuesday.
The package, which was revealed to brokers last February, is in the form of a nine-year forgivable loan, and was offered to any brokers producing more than $500,000 annually.
Morgan Stanley offered retention payments to 6,500 brokers. The brokerage, which now has just over 18,000 advisers, didn’t say exactly how many brokers accepted the package, but that nearly all of its top producers are on board.
The brokerage has lost roughly 2,000 advisers since it announced the joint venture a year ago, many of whom left because they weren’t included in the retention program.
...News
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