The Madison Group - Morgan Stanley
First time poster long time lurker. So I have always worked on the institutional side of finance starting as an Analyst in investment banking and then moving on to LMM PE. Unfortunately, my mother passed away recently and left her money with a financial advisor at Morgan Stanley. I guess the Madison Group is the name of their specific franchise. What I don't understand is how any of these folks are employed. Like I have meet people with a very low competence to ego ratio during my career, but I've never meet people who directly act like they have a "license to steal". Like they swear they are gods gift to Microsoft excel, the princes and princesses of PowerPoint, the dukes of DCF, the earls of EBITDA and the countesses of cash flow. What I am wondering is if all finical advisory groups are difficult to deal with. I've heard J.P. Morgan has the most investor friendly fee structure. Is this the case?
Based on the most helpful WSO content, financial advisory groups can vary significantly in terms of competence, professionalism, and fee structures. Your experience with the Madison Group at Morgan Stanley seems to reflect frustration with their attitude and approach, which unfortunately isn't uncommon in some corners of the financial advisory world.
Regarding fee structures, J.P. Morgan is often noted for having a more investor-friendly approach compared to some competitors. However, this can depend on the specific advisor or group within the firm. It's worth noting that financial advisors at large institutions like Morgan Stanley or J.P. Morgan operate under different models, and their fee structures can range from flat fees to percentage-based fees on assets under management (AUM).
If you're dissatisfied with the current advisor, it might be worth exploring other options, including independent advisors or firms with a fiduciary standard, which legally obligates them to act in your best interest. Additionally, you could consider firms that offer transparent, low-cost fee structures or even robo-advisors if the estate's financial needs are straightforward.
Sources: Do retail financial advisors provide ANY value??, Ask a bro: Thebrofessor's Q&A, 2016 edition, Calling all Financial Advisors: What products do high net-worth people use to manage their wealth?, Is modeling more difficult in certain sectors versus others?
can you elaborate on their low competence? genuinely curious bc i have several mutuals with someone on that group lmfao
After working with them for 4 years, their behavior has ranged from being extremely shady to them straight up lying. The fees they originally told me have balonned by like 800%. They were incredibly nice to me when I origionally invested with them, but now they take weeks and and weeks to give one word response emails. I've only worked with the only female who works the firm, but if I could go back in time, there is not a snowballs chance in hell, I would have ever given her a dime of my money.
They are known for being shady af!! Stay away,
Had a family member with a similar experience who said CB was super unethical. Surprising Morgan Stanley still let's them use their name.
Similar experience. CB was not only extremely rude, hard to get in contact with, but had no idea what she was doing.
All of these posts / comments are clearly the same person (maybe this will get scrubbed after I’ve put this comment, but all the commenters have left similar comments on two separate threads about different topics… clearly the same person boosting their own posts). Doesn’t mean they don’t have a right to be angry about the topic (I have no idea), but just so others reading are aware
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