Morgan Stanley, AG Edwards, or neither?

4 replies [Last post]
Stonewall's picture
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Joined: 2007-08-06

I have been licensed for over 10 years and built up a small book of business on a part-time basis. I have been offered a position by both Morgan Stanley and AG Edwards as I consider doing this full-time. They both want to run me through their 4-6 month training programs even though I am licensed (7,66,24, etc. etc.) and have some experience. Any thoughts on whether or not I should go full-time with either of these firms or just try to go full-time with my current indpendent B/D?

Broker24's picture
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Joined: 2006-10-12

Why would you go to another firm? Is it indy based? I assume it is, since you work part-time. Then again, I guess it could be one of those Primerica deals?? You need to clarify the details.

Indyone's picture
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Joined: 2005-05-30

You'll have to ask yourself if the payout reduction you'll receive is worth the services that these firms will provide you.  I hear net payout numbers from low 60s' to low 70's and you'll be rolling back to probably 40%.  If the firm provides you services that you're willing to pay at leat 20% of your gross for, or if the firm will provide you sufficient growth to make up for the reduced payout, then you should go that way.
 
If however, you enjoy your freedom as an independent, I would think long and hard about giving that up.

Stonewall's picture
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Joined: 2007-08-06

Thanks for your thoughts. I would be looking at a decreased payout; however, health insurance as an employee with some health issues with my family seems attractive. However, both options do pose their own unique risks.

Robinhood's picture
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Joined: 2008-01-05

Heard MS is a pretty decent place to pitch a tent. As for AG -I would wait until all the kinks have been hammered out with the merger (between AG and Wachovia) before thinking about heading over there.

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