Comments (7)

Aug 22, 2015

I'm assuming you're talking about Morgan Stanley. If you're worried about loan officers and tellers, you need to do your research. Morgan Stanley, Merrill Lynch, and UBS are all about the same in terms of their environment (ML has a little more retail bank feel as of late), and they're the top 3 PWM firms in the country (not including private banks here).

the short answer is MS is the biggest PWM firm in the country and like the other 2, a high quality shop. additionally, you need to do your research. transamerica is an insurance/retirement firm, not PWM. primerica is a name I haven't heard in ages, they're not even in the conversation, completely different business model.

RBC and Wells I'm sure are fine, but they're smaller. never worked there so my sample size is small. anecdotally, the highest quality brokers in my area have all been at the big 3.

schwab is a joke, it's a discount brokerage masquerading as PWM, same goes for Fido. fine companies if you're the customer, but I doubt the same if you're the employee.

heard of waddell & reed, don't know much so can't really comment. edward jones has had some recent PR issues and I have my problems with their business model & training program, but they're not a serious competitor of ours so I don't have a lot to say beyond that.

judging by your inclusion of seemingly every industry in finance, I'd suggest you bone up more on what the industries mean and focus your networking on 2 or 3, not 6 or 7 areas of finance.

Oct 23, 2015


Aug 22, 2015

good FAs offer all financial solutions, including insurance. no one sells health insurance but the wealthy sometimes need long term care insurance, which requires a health license. same goes for life insurance, its not a huge business for us but we offer it, and we have to be licensed to do it.

Oct 23, 2015


Oct 23, 2015


Aug 23, 2015

If you're interested in that arena I'd definitely do it.

Oct 23, 2015