Financial Advisor for which firm?

I'm in an interesting position where I'm ready to pull the trigger and take a shot at some of the bigger names in financial planning/advising.

With your experience, can you tell me which Financial Advisory program is the best?

I'm debating between Morgan Stanley, Merrill Lynch, Wells Fargo, and UBS.

I'm a 22 year old student. I've been working my way up the ladder from 2 previous companies to earn my experience and wisdom for the past 2 years (still signed on with the 2nd company). Currently 6, 63, life/health/accident licensed. Salesmanship and cold market approaching hasn't turned me away yet, I want to stay in this career for the long haul and be a success story.

Information worth noting: I'm having a BBQ dinner this saturday with my sister's friend. My sister's friend has a husband who is a FA for Morgan Stanley, so I might have the opportunity of knowing someone on the inside before I go through my first job application attempt.

Once again, I'm debating between Morgan Stanley, Merrill Lynch, Wells Fargo, and UBS. I'm leaning towards Morgan Stanley. Your thoughts?

Comments (5)

Jul 18, 2013

Why not apply to all of them and see which ones you get? THEN you can decide. I wouldn't do it the other way around.

Jul 18, 2013

^Solid logic. I agree. I'm just curious to the hypothetical situation of which company would be better because I also represent a group of students with the same question. I'm a Vice President for two financial planning clubs at my college. This post would be great information to share with them when I receive good feedback.

Jul 18, 2013

I'd say as long as you don't go Edward Jones or one of those other bottom feeder companies you will be good. Also, something else to note, you want to join an experienced team with a solid client book. That way you will be learning the business under experienced FA's. All 4 companies you mentioned above should give you this opportunity. Edward Jones is a company where you hear the horror stories (cold calling strangers, going door to door knocking). Your job from the start at EJ is to bring in assets. You have to look at it from an employer's and customer's standpoint. Nobody is going to give their savings to a 22 year old with hardly any experience. And an employer shouldn't expect a 22 year old with hardly any experience to bring in assets. Leads? Possibly. Of course, part of the job is sales and eventually you will have to bring in cilents, but another part of the job is learning and gaining the experience. The 4 companies you listed all have solid framework for new employees. Just ask the right questions during the interview.

PM me if you have any questions (I come from a family of FA's)

Jul 18, 2013

Yeah don't go with EJ...both in my office right now and the previous shop I was at there are 3 people who used to work at EJ and all quit within a week.

Jul 18, 2013
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