Morgan Stanley fired 500 trainees the other day.  They don't seem to be much of a candidate for a soon to be scheduled training class.

BEF-  Can you elaborate a little on the above?  It appears they have started up training program again and are hiring trainees....

Rugby

[quote=Big Easy Flood][quote=rookiebroker]

Big Easy Flood,

I am new to the securities industry and besides learning as much as I can from my securities friends, I read these forums.  Here, I found Big Easy Flood's postings are extremely informative, including many of his past postings.  All the kudos to Big Easy.  And no, don't worry about the commas and apostrophes, all the niceties and the dangling modifiers.  Thus far, at least from my reading of all the postings in the limited time I have joined the forum, your English and grammar has been by far the best, not to say that the writings here are bad.  Trust me, I have seen more atrocious writings.  All the rookies and the securities wannabes like me have much to learn from Big Easy Flood.

Rookie broker. 

[/quote]

Thanks, I appreciate the vote of confidence.

[/quote]

You are my hero, too, BEF.  And I'm a real person, not someone you made up, so you should appreciate my vote of confidence even more. 

[quote=lawsucks]

You are my hero, too, BEF.  And I'm a real person, not someone you made up, so you should appreciate my vote of confidence even more. 

[/quote]

Law,the world needs those of your ilk like it needs a dose of clap.

[quote=Mac42]

Mac, do you want to sell insurance or do you have a passion for the stock market?

Maybeeeeee,

I don’t necessarily want to sell insurance and I don’t have a passion for stocks. I want to be an expert financial planner that is able to put my clients in the right investment for them. If it is insurance that’s fine, if it is a diversified stock portfolio that’s fine too. I just want to serve clients and help them reach there goals.

<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> 

I also understand the road is long and hard and a majority of people don’t make it.

[/quote]

Well . . .This is a sales job.  You get comissions for products, not planning.  Plain and simple.  You have to be able to ASK PEOPLE FOR THEIR MONEY. 

Planning is important--have you considered some type of wholesale or research job?

[quote=maybeeeeeeee]

Well . . .This is a sales job.  You get comissions for products, not planning.  Plain and simple.  You have to be able to ASK PEOPLE FOR THEIR MONEY. 

Planning is important--have you considered some type of wholesale or research job?

[/quote]

What a remarkable approach.  Sell things to clients without regard to their suitability.

Planning is unimportant for a finanical advisor because planning does not generate commissions?

Any old timers see a compliance problem waiting to happen in that attitude?

[quote=maybeeeeeeee]

You have to be able to ASK PEOPLE FOR THEIR MONEY. 

[/quote]

Right out of "The Boiler Room."  Screw the client, get their money!  Let's put some lipstick on this pig and sell it!

[quote=Big Easy Flood]

[quote=maybeeeeeeee]

Well . . .This is a sales job.  You get comissions for products, not planning.  Plain and simple.  You have to be able to ASK PEOPLE FOR THEIR MONEY. 

Planning is important--have you considered some type of wholesale or research job?

[/quote]

What a remarkable approach.  Sell things to clients without regard to their suitability.

Planning is unimportant for a finanical advisor because planning does not generate commissions?

Any old timers see a compliance problem waiting to happen in that attitude?

[/quote]

Without having read the entire thread, because you guys are repeating yourselves and boring me, I have to (gulp...) agree with BEF.  

Planning, whether you formally get paid for it or not, is the keystone of gaining clients' confidence.  If all they think you are doing is schlepping products at them with no rhyme or reason, you will not keep the client for very long. If you cannot show that the recommendations you make to your client are not predicated on some sort of strategy you are asking for compliance and possibly litigation issues.

Insurance AND investments are both appropriate components of an overall financial plan.  If you are qualified to compile a plan, then you will be able to charge.   There is no excuse for not obtaining the information that would be required by a "planner" just because you are not getting paid.  

[quote=babbling looney]

Without having read the entire thread, because you guys are repeating yourselves and boring me, I have to (gulp...) agree with BEF. 

[/quote]

Why on earth would you "gulp" because you agree with what is correct?

Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)

[quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

Food fight?  What do you have against food fights?

[quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

Is it just me, or does everybody else read BEF’s posts with Rex Reed’s voice?

[quote=Rugby]

Morgan Stanley fired 500 trainees the other day.  They don't seem to be much of a candidate for a soon to be scheduled training class.

BEF-  Can you elaborate a little on the above?  It appears they have started up training program again and are hiring trainees....

Rugby

[/quote]

BEF or anyone else, <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Can someone elaborate on the Morgan Stanley training situation? I read somewhere; their new program will be more comprehensive.

Bueller, Bueller, Bueller………

[quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

You don't have to get involved in the fight, BL. We saved a seat for you with us in the bleachers. 

[quote=Slim2None] [quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

Is it just me, or does everybody else read BEF's posts with Rex Reed's voice?
[/quote]

Rex Reed? No, more like Truman Capote or Paul Lynde  

[quote=mikebutler222]

[quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

You don't have to get involved in the fight, BL. We saved a seat for you with us in the bleachers. 

[quote=joedabrkr] [quote=mikebutler222]

[quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

You don't have to get involved in the fight, BL. We saved a seat for you with us in the bleachers. 

[/quote]

good one!  Be careful or you'll find yourself out of the bleachers!
[/quote]

You (well, you, being one of the good guys, wouldn't even try) can't force me into a food fight. I've had my time-wasting share. From now on, should one arise, I'm going straight into the  fetal position and playing dead.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

That is unless I have a synapse collapse and don't

I wanna get in on the bleacher seats…Joe Da Man, Mikey B ,and the crew… we all can sit back and chuckle at the scene…

[quote=blarmston]I wanna get in on the bleacher seats......Joe Da Man, Mikey B ,and the crew... we all can sit back and chuckle at the scene.....[/quote]

Here, Blarmy my boy, have a beer. We knew you'd be here eventually

[quote=mikebutler222]

[quote=blarmston]I wanna get in on the bleacher seats…Joe Da Man, Mikey B ,and the crew… we all can sit back and chuckle at the scene…[/quote]

Here, Blarmy my boy, have a beer. We knew you'd be here eventually

[quote=mikebutler222]

[quote=Slim2None] [quote=babbling looney]Because now I am likely to be involved in the ongoing food fight that seems to revolve around you.  (insert smiley here)[/quote]

Is it just me, or does everybody else read BEF’s posts with Rex Reed’s voice?
[/quote]

Rex Reed? No, more like Truman Capote or Paul Lynde