[quote=mikebutler222]

xmsbroker,

Did you happen to leave last August? Also, what's with the caps problem?

[/quote]

i left in february, lucked into a job trading for one guys account.  no more greasing the pole of the public or ms for me

Either you do, or you don't. I am not trying to make excuses.

Sure sounds like it...

 No teams formed,

No teams formed among trainees? Why would trainees for a team? If you're saying no senior brokers offered to bring you in to their team, wel....

in over 6 months only 3 of the one on one weekly development meetings happened, and maybe 4 of the weekly junior FA group meetings occurred, not one single meeting with the branch manager.

Sounds like your branch guy was DOA...

 Hard to believe but true. I ended up dragging my feet on two multimillion dollar accounts because I thought the system was too messed up for me to want to stay.

Sure, and you had Donald Trump's money lined up too, but couldn't decide if you wanted to say or not...

 For myself, I am fine with the cut: I just feel sorry for thoes that continued, and continue, to believe. And the beat goes on, and on

I doubt those that made the cut need your pity. Again, sorry you got cut and good luck elsewhere. XMSBROKER seems to have a Jones gig now, maybe you can too

[quote=mikebutler222]

Either you do, or you don't. I am not trying to make excuses.

Sure sounds like it...

 No teams formed,

No teams formed among trainees? Why would trainees for a team? If you're saying no senior brokers offered to bring you in to their team, wel....

in over 6 months only 3 of the one on one weekly development meetings happened, and maybe 4 of the weekly junior FA group meetings occurred, not one single meeting with the branch manager.

Sounds like your branch guy was DOA...

 Hard to believe but true. I ended up dragging my feet on two multimillion dollar accounts because I thought the system was too messed up for me to want to stay.

Sure, and you had Donald Trump's money lined up too, but couldn't decide if you wanted to say or not...

 For myself, I am fine with the cut: I just feel sorry for thoes that continued, and continue, to believe. And the beat goes on, and on

I doubt those that made the cut need your pity. Again, sorry you got cut and good luck elsewhere. XMSBROKER seems to have a Jones gig now, maybe you can too

[/quote]

Im not sure why you keep making snide insults/assumptions about me.  There are plenty of good things about MS, the training program is not one of them.  Strange that youre so hostile towards any criticism of the firm when even Mack publicly bashes the program.

If you are producing over 400K at Morgan you are probably safe, everyone else needs to find another firm, or career.

[quote=mikebutler222][quote=xmsbroker]

QUOTE]

They fired 500 of the CURRENT CLASS, not the entire year’s class. [/quote]

please enlighten me as to what the 'current class' refers to.  people who started in '06 arent even in production yet and there were very few hires after August of '05.

"The bad press comes from promising these people at least a year to hit the numbers.  if people are told to focus on HNW prospects, then 1 client can crush the numbers.  its not accurate to say they 'werent on pace' when the tracking goal is $2mm.  one good client and your a 'leader' ".

Tracking goal is 2 mil in first year...... ML wants you to have 2 mil by month 4....

[quote=xmsbroker][quote=mikebutler222][quote=xmsbroker]

QUOTE]

They fired 500 of the CURRENT CLASS, not the entire year’s class. [/quote]

please enlighten me as to what the 'current class' refers to.  people who started in '06 arent even in production yet and there were very few hires after August of '05.

[/quote]

There are several classes during the year. Not everyone has the same start/hire date.

im not sure what your hard on for ms is, but these are my impressions from the branch i was at. 

I simply want criticism to be accurate. You're right, branch impressions are key and they vary a great deal. OTOH, the fact that trainees ARE NOT FAs isn't a branch issue, it's firm policy.

my impression of the trng program comes from having 3 trainees sitting outside of my old office.  they were given no help. 

Sounds like you didn't go thru the program yourself. The "got no help" thing is a universal throughout the biz. When I hear it I wonder what, exactly, people are asking for. I went thru ML's program, which I hear is the best in the biz, and I still heard "I got no help".

i dont claim to know everything about the 500/1000 number, but i do know someone who's year wouldve been up in a month or two so they certainly pulled from a good portion of last years class

"Who's year wouldve been up in a month or two"?????? LOL

trainees are not fas only when its convenient.  they are 'real' FAs to the public. 

They aren't real in the firm in tracking or pay, so your "lies, lies, lies" claim is mistaken.

the bad press comes from promising these people at least a year to hit the numbers.  

"Bad press" with who? Other potential firms? You figure clinets think we should keep people not making the grade onboard? You think potential hires don't know (or shouldn't be told) that if they fail to make the grade they'll be cut?

 its not accurate to say they 'werent on pace' when the tracking goal is $2mm.  one good client and your a 'leader' 

Didn't you just tell us you didn't know the numbers?

[quote=doneMS]If you are producing over 400K at Morgan you are probably safe, everyone else needs to find another firm, or career.[/quote]

Care to take the wager Fritz keeps declining? 

The training program admittedly stinks. Gorman said that yesterday. The kids that were cut in my complex simply weren’t working hard enough to warrant their employment. If those that were let go are serious about the field, call your local merrill office. They are insane about increasing head count these days. I guarantee you will get an interview.

[quote=blarmston]

"The bad press comes from promising these people at least a year to hit the numbers.  if people are told to focus on HNW prospects, then 1 client can crush the numbers.  its not accurate to say they 'werent on pace' when the tracking goal is $2mm.  one good client and your a 'leader' ".

Tracking goal is 2 mil in first year...... ML wants you to have 2 mil by month 4....

[/quote]

I'm not familiar with the tracking goals, but $2MM at the end of year one sounds like a joke.

[quote=mikebutler222][quote=xmsbroker][quote=mikebutler222][quote=xmsbroker]

QUOTE]

They fired 500 of the CURRENT CLASS, not the entire year’s class. [/quote]

please enlighten me as to what the 'current class' refers to.  people who started in '06 arent even in production yet and there were very few hires after August of '05.

[/quote]

There are several classes during the year. Not everyone has the same start/hire date.

[/quote]

obviously, thats my point. they dont start 1000 people on the same day so what start dates do you think these firings encompassed?

[quote=mikebutler222]

sitting outside of my old office.  they were given no help. 

Sounds like you didn't go thru the program yourself. The "got no help" thing is a universal throughout the biz. When I hear it I wonder what, exactly, people are asking for. I went thru ML's program, which I hear is the best in the biz, and I still heard "I got no help".

true, however, the program promised people a week of boot camp, weekly manager meetings, 3rd party sales trng, none of which once were conducted.  these are tangible parts of a program that were promised and not delivered.  would they have helped, i have no idea 

trainees are not fas only when its convenient.  they are 'real' FAs to the public. 

They aren't real in the firm in tracking or pay, so your "lies, lies, lies" claim is mistaken.

the lies comment refered to repeated promises by mack, gorman, and middle mgmt that there would be no more firings...  in regard to the fa/trainee distinction, what is the difference for a client?

its not accurate to say they 'werent on pace' when the tracking goal is $2mm.  one good client and your a 'leader' 

Didn't you just tell us you didn't know the numbers?

i dont know where the line was drawn for the recent firings.  the $2mm refers to the tracking # trainees had to meet w/in 1 yr of hire (~8 months of production) to stay on salary and get a bonus. $1mm was needed to stay on draw for 3 months.  $4mm for 'leaders'

these #s are low, but thats entirely ms fault...  

fwiw, i went through trng at ms and it was lacking a couple years ago, but it was a lot better than this 4 month joke.

[quote=xmsbroker][quote=mikebutler222][quote=xmsbroker][quote=mikebutler222][quote=xmsbroker]

QUOTE]

They fired 500 of the CURRENT CLASS, not the entire year’s class. [/quote]

please enlighten me as to what the 'current class' refers to.  people who started in '06 arent even in production yet and there were very few hires after August of '05.

[/quote]

There are several classes during the year. Not everyone has the same start/hire date.

[/quote]

obviously, thats my point. they dont start 1000 people on the same day so what start dates do you think these firings encompassed?

[/quote]

Since your earlier comment was "ms says they fired 500 out of 1000, but there were originally 2500 trainees from the '05 classes.  wonder where the other 1500 went. " I thought your "point" was pretty clear, where at the other 1500. My anwser was to explain that all 2500 are not in the same class, thus the "500 of 1000" referred to specific classes. I couldn't tell you which ones or what start dates are involved.

sitting outside of my old office.  they were given no help. 

Sounds like you didn't go thru the program yourself. The "got no help" thing is a universal throughout the biz. When I hear it I wonder what, exactly, people are asking for. I went thru ML's program, which I hear is the best in the biz, and I still heard "I got no help".

true, however, the program promised people a week of boot camp, weekly manager meetings, 3rd party sales trng, none of which once were conducted.  these are tangible parts of a program that were promised and not delivered.  would they have helped, i have no idea 

I don't know how, since you weren't part of the group, what was promised and what was or wasn't done. Again, I don't know of any complaint industry-wide that's as common as "I got no help", and I have no idea what "help" people are asiking for. This job requires a self-starter, you're given the tools, not the accounts.

trainees are not fas only when its convenient.  they are 'real' FAs to the public. 

They aren't real in the firm in tracking or pay, so your "lies, lies, lies" claim is mistaken.

the lies comment refered to repeated promises by mack, gorman, and middle mgmt that there would be no more firings...  in regard to the fa/trainee distinction, what is the difference for a client?

Please be serious. Gorman and Mack made a promise that was clear to every employee. Trying to change the nature of it, and/or trying to claim that clients would be unhappy when people not making the grade are cut is just silly. I've yet to hear, for example, a client complain about the August cut. They understand standards.

its not accurate to say they 'werent on pace' when the tracking goal is $2mm.  one good client and your a 'leader' 

Didn't you just tell us you didn't know the numbers?

i dont know where the line was drawn for the recent firings. 

If you don't know the numbers for the line, why comment on them?

fwiw, i went through trng at ms and it was lacking a couple years ago, but it was a lot better than this 4 month joke.

The training may still be a "joke" for all know, but it isn't 4 months and never has been.

BTW, ever consider using that Caps key and making your posts easier to read?

I know what the trainees told me.  Naturally I asked what the program was like as theyve changed it every year I was there...  It obviously requires a self-starter, but its foolish (and dangerous) to think a self starter is capable of properly managing millions of wealth w/out some instruction or prior experience.

Youve never heard a client complain about the August cuts?  You should have had some of the accounts that were transferred to me.  MS pissed some people off.

How is the training not 4 months?  They were given 4 months to get licensed and then went into production.  No oversight at all.

"If you don't know the numbers for the line, why comment on them?"

bc things happen fast in that business.  some of the most successful people at one point were not considered on track and then landed a big client or two.  youre better off having 1 $1mm account and 10 great prospects then having 40 $40k accounts 

I know what the trainees told me. 

There's your first problem. People new to the biz aren't usually the folks to ask what it takes to train someone for a biz they know nothing about...

 It obviously requires a self-starter, but its foolish (and dangerous) to think a self starter is capable of properly managing millions of wealth w/out some instruction or prior experience.

They get plenty of what-to-do-with-it help. That's not where people who aren't bringing in accounts have a problem.

Youve never heard a client complain about the August cuts?  You should have had some of the accounts that were transferred to me.  MS pissed some people off.

Not a one. Now I know you're joking, or you left in August People usderstand standards. Most people don't have much use for an organization that keeps people around who are failing to meet some pretty minimal standards.

How is the training not 4 months?  They were given 4 months to get licensed and then went into production.  No oversight at all.

That's got to be a joke as well. They get four months to pass the exams and they get (even if your manager is brain-dead) plenty of oversight. What they don't get (anywhere) is accounts. Clearly the program is lacking, but it sure isn't what you've made it out to be.

[quote=xmsbroker]

"If you don't know the numbers for the line, why comment on them?"

bc things happen fast in that business.  some of the most successful people at one point were not considered on track and then landed a big client or two.  youre better off having 1 $1mm account and 10 great prospects then having 40 $40k accounts 

[/quote]

So people not making the grade should be kept around even if they're failing to meet minimal standards because one or two of them may land a single large account and catch up? As a shareholder, you'll excuse me if I don't like that approach, OK?

Hey, you say you had a tough experience in your office, which is perfectly possible. I don't doubt that. It also seems you have other issues. If I were a betting man (and I am) I'd say you and the other new poster that's capitalization challenged and talks about working at Jones are the same guy and that you left in August. Call it a hunch. 

I will take 40, 40 thousand dollar accounts over a one million dollar account any time. There might be some big rollovers there!