[quote=blarmston]

“For all you know Roger is a ten year old wasting his summer vacation, yet you actually ask him where you should go to work.”

And Put, for you, you are on this internet forum wasting the last few remaining years of your life typing garbage that 96% of this forum mocks you for... I probably suggest this to you every 2 weeks- back away from your computer and get out there and embrace your golden years, you will be dead soon so enjoy it...

[quote=SaySo] Roger, valuable insight. How would you answer my question? At 25, which company provides a better learning environment: MS, AGE or UBS?

Thanks in advance.[/quote]

In my opinion, it's not the firm, but the local branch, that will make the most difference in a young man or woman's career.

Does the branch foster a mentoring environment? Do they pair newbys up with senior brokers?

Do they encourage junior brokers to do joint field work with veterans?

Every company you can think of has branches that do these things. Every company you can think of also has branches where they don't do these things.

The only way to find out is to ask the local managers, and THEN ask the RRs that have been there 1, 2, 3 years.

You should ask the manager to allow you to interview a handful of these people, one on one, with nobody else present.

If I were you, I would want to work in a branch that REQUIRES the junior brokers to do joint work with veterans. Not all of them force this issue, but if you're coming in fresh, it should be mandatory. The failure rate in shops where this is mandatory is very low, compared to the industry as a whole.

[quote=Roger Thornhill]

[quote=SaySo] Roger, valuable insight. How
would you answer my question? At 25, which company provides a better
learning environment: MS, AGE or UBS?

Thanks in advance.[/quote]

In my opinion, it's not the firm, but the local branch, that will make the most difference in a young man or woman's career.

Does the branch foster a mentoring environment? Do they pair newbys up with senior brokers?

Do they encourage junior brokers to do joint field work with veterans?

Every company you can think of has branches that do these things. Every company you can think of also has branches where they don't do these things.

The only way to find out is to ask the local managers, and THEN ask the RRs that have been there 1, 2, 3 years.

You should ask the manager to allow you to interview a handful of these people, one on one, with nobody else present.

If I were you, I would want to work in a branch that REQUIRES the junior brokers to do joint work with veterans. Not all of them force this issue, but if you're coming in fresh, it should be mandatory. The failure rate in shops where this is mandatory is very low, compared to the industry as a whole.

[quote=SaySo]

Great advice Roger.

One company that does that and offered me a position is AXA Advisors, in NYC. They bought Equitable a couple of years ago are starting to brand themselves in the US.

The thing I didnt like about them is that you are only hired after you pass the licensing exams, which you complete on your own, without being an employee in their peyroll. It's a great opportunity for someone switching careers but I can't really stay 2-3 months without compensation.

AXA MANDATES joint work for the first 2 years, where you share commissions with the more senior broker working with you. But their payout rate seems generous; you get to keep 100% of commissions (which I don't understand how this works for them) or pay a senior broker 10-25% of that commission in joint work.

Also, they say you are a STATUTORY EMPLOYEE, so you can claim some business expenses in your taxes. (what are the downsides to this status???).

They also charge a desk and computer fee (approx. 110-150 a month for both).

They were very different from the other companies I interviewed (MS, UBS, AGE) and a little different from another (AEFA).

Any insights?

Thanks.
[/quote]

A statutory employee is different from a common law employee, which is what most people are.

Statutory allows them to match and withhold FICA/Medicare taxes, AND makes you eligible for their benefit plans, but otherwise, you're on your own. Generally speaking, this is an UPside to being in the career distribution channel.

The downside of that firm is you're generally going to be stuck with FYC limits of NY laws. They aren't as generous as the comp plans of companies not selling in NY state.

For newbys, charging fees for a desk, etc., is ridiculous, IMO. But, that's common with some companies (NML does it, which I find terrible).

When I started, I paid zero, and all the basics were provided (desk, office, phone, minimal admin support). With production, that increased for me to a full time assistant, and some other perqs.

In the old days, new agents in the career channel were given a validated draw/salary. Retention was much higher then, than it is now. Along came a wave of dime-a-dozen MBA types who had never sold anything, and the systems that had worked for generations were destroyed. This is why there's virtually no new blood coming in, and what does, isn't staying.

It's not because one can't make a fantastic living, it's because the knowledge and skills required aren't being taught, because those in the position to teach don't possess them. I blame Mecca.

[quote=SaySo]



Great advice Roger.



[/quote]



If you were 26 instead of 25 you would have laughed in the idiot’s face.  Ah the innocence of youth.

[quote=SaySo]


It’s a great opportunity for someone
switching careers but I can’t really stay 2-3 months without
compensation.



[/quote]



One wonders why the resident brain trust, Roger, doesn’t offer the
advice that embarking on a sales career without a nest egg capable of
holding the wolf at bay for at least six months is not a good idea.

[quote=Roger Thornhill]

Along came a wave of dime-a-dozen MBA types

[quote=Put Trader]

[quote=SaySo]


One wonders why the resident brain trust, Roger, doesn’t offer the
advice that embarking on a sales career without a nest egg capable of
holding the wolf at bay for at least six months is not a good idea.

[/quote]



Actually the CFP board suggest:



3 months (of normal needed capital)for a working married couple

6 months for a single person,

6 months for couple with only 1 part working.

3 months for a working couple with 1 partying working and other substantial income (Trust).

[quote=rightway]

[quote=Put Trader]

[quote=SaySo]


One wonders why the resident brain trust, Roger, doesn’t offer the
advice that embarking on a sales career without a nest egg capable of
holding the wolf at bay for at least six months is not a good idea.

[/quote]



Actually the CFP board suggest:



3 months (of normal needed capital)for a working married couple

6 months for a single person,

6 months for couple with only 1 part working.

3 months for a working couple with 1 partying working and other substantial income (Trust).



[/quote]



What if you add Alpha?

[quote=Put Trader]

[quote=rightway]

[quote=Put Trader]

[quote=SaySo]


One wonders why the resident brain trust, Roger, doesn’t offer the
advice that embarking on a sales career without a nest egg capable of
holding the wolf at bay for at least six months is not a good idea.

[/quote]



Actually the CFP board suggest:



3 months (of normal needed capital)for a working married couple

6 months for a single person,

6 months for couple with only 1 part working.

3 months for a working couple with 1 partying working and other substantial income (Trust).



[/quote]



What if you add Alpha?

[/quote]



I know better, but…



My alpha comment way back was not
regarding adding alpha to a clients portfolio as a rep.  You were
in the process of telling us how it is easy for you, and everyone else,
to go out and select mutual funds on a no fee/load basis (thus, no need
for the typical rep).  I gave you some very stats some use to
evaluate systematic and unsystematic risk, return, and manager
performance of mutual funds and investment managers.  Thus- I was
asking you to evaluate the relationship of Alpha, R Sq, etc…  A
task you failed. Thus I assume you select your investments like moest
others- the front of magazines, morningstar ratings, and 3,5,10 year
historical performance figures.



OK- have at it…

[quote=rightway]



OK- have at it…

[/quote]



That you did not pick up the tongue in cheek nature of my comment reveals you as somebody that is way too serious.



That you responded at all is proof positive that Put Rules.

[quote=Put Trader] One wonders why the resident brain trust, Roger, doesn't offer the advice that embarking on a sales career without a nest egg capable of holding the wolf at bay for at least six months is not a good idea. [/quote]

puttyndacrack is still exhibiting anal retention following having his ass spanked on a public forum, so he'll continue to make vain attempts to incite anger in his intellectual and financial superiors.

Unfortunately for him, this juvenile strategy fails.

[quote=Roger Thornhill]

[quote=Put Trader] One wonders why the
resident brain trust, Roger, doesn’t offer the advice that embarking on
a sales career without a nest egg capable of holding the wolf at bay
for at least six months is not a good idea. [/quote]

puttyndacrack is still exhibiting anal retention following having his ass spanked on a public forum, so he'll continue to make vain attempts to incite anger in his intellectual and financial superiors.

Unfortunately for him, this juvenile strategy fails.

[quote=Put Trader] Again your lack of cognitive abilities is revealed.  I am not attempting to "incite anger" I am simply pointing at you and laughing. [/quote]

The first symptom of a problem is denial. You should seek help. You have a mental disorder.

This is why everyone laughs at you. You're a wack job.

Put works at AMEX and they have the worst training program in the industry.  They basically stick you in a cube with a telephone.  He thinks that is OK.  We have three former AMEX reps here and they are thrilled with RJ.  Just go to AMEX.SUX you can see the TONS of AMEX reps who HATE their company.

There it is again–mind numbing immaturity coupled with world class

stupidity strutting around like being a stupid child was something to

be proud of.



How many people who read this forum do you think consider themselves to be your intellectual superior?



How many of them do you think believe that you’re little more than a goofball with too much time on your hands?

[quote=Put Trader]
How many people who read this forum do you think consider themselves to be your intellectual superior?[/quote]

I don't care. All I know for sure is that I'm much smarter than you are.

[quote=Put Trader] How many of them do you think believe that you're little more than a goofball with too much time on your hands?
[/quote]

That's funny, coming from you, Mr. I_Post_All_Day_Because_I'm_Unemployed.

It's Friday. Angi and I are dotting I's and crossing T's today, so I can head to the lake and stretch the legs of my Cobalt. It's been a good week. $2,951,000 in new business.

Enjoy your movie, puttyndacrack.

Roger, I hope you don't think I am flirting with you, but I find you irrestible!!!!! 

Thank you for the biggest laugh I have had on Put in the day.  The only thing is, he has noone to sleep with so he would never have to stick in on the wall. 

You go Roger!!!!!  Hope I end up like you.  Contratulations on a great week.

NAH NAH NAH Roger has something Putty wants. Just like on the playground huh put. Oh those suppressed childhood memories just keep pushing themselves forward.

[quote=maybeeeeeeee]

NAH

NAH NAH Roger has something Putty wants. Just like on the

playground huh put. Oh those suppressed childhood memories just

keep pushing themselves forward.

oooohhh that must have hit Put the Nit where it hurts.

Dream about it Put.