Four2Eight --UBS

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cppr33's picture
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Joined: 2007-08-06

Saw your post above but I cannot post in that forum for some reason. Congrats on the good start at UBS ...is there anything that you found that you did or are doing that has helped the most on getting off to such a good start?
I am still in the Phase I of the training but given the production levels needed once the training is over, (while I dont want to put the cart before the horse, in regard to the exams) I would like to get off to as fast as a start as possible.
thanks

JimYoung's picture
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Joined: 2007-08-05

cppr33 wrote:
Saw your post above but I cannot post in that forum for some reason. Congrats on the good start at UBS ...is there anything that you found that you did or are doing that has helped the most on getting off to such a good start?
I am still in the Phase I of the training but given the production levels needed once the training is over, (while I dont want to put the cart before the horse, in regard to the exams) I would like to get off to as fast as a start as possible.
thanks

im interning at UBS right now, outta curiosity...how long do you have to study for the 7? after that what are your production goals like? my office is 7.5 mill first year i believe.

cppr33's picture
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Joined: 2007-08-06

you get 7 weeks to study and pass the 7. this is down from what had been 10 weeks in prior "classes". the day is mostly studying along with some different tasks about the firm, asset allocation,etc. these are a waste of time and i have put most of my focus on the 7. i am entering my 3rd week in the new FA program.
the assets and production are the same throughout UBS and are tiered. these are reassessed every few months. they want you to have AUM of $33million+ after 3 yrs to even stay in it.

JimYoung's picture
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Joined: 2007-08-05

cppr33 wrote:
you get 7 weeks to study and pass the 7. this is down from what had been 10 weeks in prior "classes". the day is mostly studying along with some different tasks about the firm, asset allocation,etc. these are a waste of time and i have put most of my focus on the 7. i am entering my 3rd week in the new FA program.
the assets and production are the same throughout UBS and are tiered. these are reassessed every few months. they want you to have AUM of $33million+ after 3 yrs to even stay in it.

wow...33 million...never even knew it was that cut-throat. that's odd because the manager told me 7.5 mill your first year in order to be a 1-1 advisor (meaning grade A). So your 40/hr workdays just consist of studying for the 7? I see the two new recruits sitting in a room all day reading their 7 books. When do you get to fly to NJ?

techo's picture
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Joined: 2007-07-24

Hopefully this won't turn into a huge bashfest.  Can I ask why yu folks chose UBS?  I have a phone interview with another place, but I am trying to investigate as many places as possible.

cppr33's picture
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Joined: 2007-08-06

JimYoung wrote:cppr33 wrote:
you get 7 weeks to study and pass the 7. this is down from what had been 10 weeks in prior "classes". the day is mostly studying along with some different tasks about the firm, asset allocation,etc. these are a waste of time and i have put most of my focus on the 7. i am entering my 3rd week in the new FA program.
the assets and production are the same throughout UBS and are tiered. these are reassessed every few months. they want you to have AUM of $33million+ after 3 yrs to even stay in it.

wow...33 million...never even knew it was that cut-throat. that's odd because the manager told me 7.5 mill your first year in order to be a 1-1 advisor (meaning grade A). So your 40/hr workdays just consist of studying for the 7? I see the two new recruits sitting in a room all day reading their 7 books. When do you get to fly to NJ?

You are required to work 50/hrs a week which is mostly 7 study but also the various excercises I noted above.
7.5 million is fine in the first year but you still have 3 more in the program.

guitar1696's picture
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Joined: 2007-08-29

The 7 is a cakewalk.... if you've studied college material before, it shouldn't take more than 2 weeks of booking.

shadow191's picture
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Joined: 2007-06-25

I'm not sure who told you that, but the number is way off.  I just pulled the numbers off of our system, to stay Level 1/1, you need to be at $34 million after 4 years production w/ a trailing 12 of $280k.  To actually keep your job after 3 years (ie. Level 2) only need about $16mm w/ a trailing 12 of $170k.  The problem is that if you're a $170k producer after 3 years, you're not making that much money.  And a $170k producer might get cut anyways because the BOM needs the space, you never know. 
First year, if you bring in $7mm, you're doing great.  $4mm and you'd probably keep your job if the manager believes in you.  A lot of it is going to depend on your BOM, if you're in a small town, maybe they'll be a little more lax in it.  Conversely, I know some guys in offices where there are a bunch of superstars and you need to stay level 1 just to keep your job.
$33mm + after 3 years is a bit ambitious; I know plenty of guys here who have done it, but it's not the cutoff to keep your job. 
cppr33 wrote:
you get 7 weeks to study and pass the 7. this is down from what had been 10 weeks in prior "classes". the day is mostly studying along with some different tasks about the firm, asset allocation,etc. these are a waste of time and i have put most of my focus on the 7. i am entering my 3rd week in the new FA program.
the assets and production are the same throughout UBS and are tiered. these are reassessed every few months. they want you to have AUM of $33million+ after 3 yrs to even stay in it.

shadow191's picture
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Joined: 2007-06-25

I liked the BOM.  I couldn't discern too much difference between all the wirehouses I interviewed with in terms of culture, training, products, etc.  What it came down to was the manager, and mine made a great impression so when I got a few offers, I went with UBS.
techo wrote:Hopefully this won't turn into a huge bashfest.  Can I ask why yu folks chose UBS?  I have a phone interview with another place, but I am trying to investigate as many places as possible.

cppr33's picture
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Joined: 2007-08-06

shadow - you are 100% right. I was wrong on my AUM/prod amount in the training program. i was going off the top of my head. They did recently change the requirements in the NFAD program at UBS. These amounts are directly from the book, I just listed level 1 and level 2 below (Net New Asset Under Mgmt/Trailing 12 mo Prod):
Year          Level 1         &nbsp ;   Level 2
1         &nbsp ;      7.0 mil/70k        &nbsp ;  4.5mil/50k
2         &nbsp ;      14mil/160k  & nbsp;       9.0mil/115k
3         &nbsp ;      21mil/250k        &n bsp;  13.5mil/180k
4         &nbsp ;    28mil/300k        &n bsp;    18mil/210k

MakrsMark's picture
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Joined: 2007-09-13

cppr33 wrote: how long do you have to study for the 7?  took me just under four weeks, but i was working 60 hours a week at the time.  All 7 studying was on your own time.

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