Morgan Stanley reviews

No one cares to help on anything. The coaching program is not good. Really worthless training by a bunch of arrogant New Yorkers. Old time managers do not yet know that most people are on a "do not call list" or always look at caller ID before they take a cold call. No understanding of how to use social media. ABSOLUTELY NO MARKETING. They tell you that you are on a two year program and will make $100K if you work hard. That is hooey Rules are: Pass the Series 7 in two months or you are FIRED !! END OF STORY. Pass the Series 66 in two more months or you are FIRED. Don't argue with anyone in NJ for your PS1 --- or you are fired. Do not make your numbers after three months -- OR YOU ARE FIRED. However, I have seen people told to change timesheets so they are not paid overtime, I have seen back dated transactions to save a "favored" FA from being fired. I have seen and experience age related commentary. They people manage by fear and nothing more. If you have a question -- The answer IS --- It is on the website OR call tech connect. No one in the office other than the CSA's cares to help anyone. MSSB says they promote a team concept -- That must be for Martians, it certainly does not apply in Kansas. My guess is the failure rate in the FAA program is 95% --- that to me means the program itself is a failure. I have met many people hired at MSSB, and they are good people --- however they are not supported and are doomed by an antiquated system --- WELL THAT IS HOW THE INDUSTRY IS --- sure that is how it is, it protects the top dogs by making sure newbies fail. Who gets the accounts when the new ones fail ??????? When someone leaves or retires --- the account do not go to anyone with less than three years experience ---- Well I hate to tell you but three years at MSSB is a lifetime and no one gets accounts. They also use a trailing 12 system so that you are always losing sales off your account base that you did more than 12 months ago. Stupid, but of course they do not tell you that when they hire you. IF you do not ask a question, they certainly do not tell you anything. No transparency.

It's all a numbers game, with the employees as well as prospective clients. In regards to employees, instead of focusing on quality, management hires Financial Advisor Associates (those entering the firm without an existing book) in high numbers and then weeds out nearly all -- including the most talented. Very high risk job regardless of the strength of your background. Promises of upside compensation are not realistic for 5 - 7 years in the business. Expect to make next to nothing after your 18 months of salary is up (Literally $30K - $50K). Stress level associated with the job is incredibly high regardless of who you are, my entire class felt this way. Extremely high turnover. A lot is luck, I literally saw one person stay on when he didn't make his numbers for an entire year and then another person lost his job in the first 3 months and he had just barely missed his numbers (it's all based on the company's timing, you never know when they are going to do mass cuts).