Morgan Stanley Smith Barney

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Morgan Stanley Smith Barney Reviews in Chicago, IL

4 Reviews
2.0
4 Reviews

Recommend to a friend
Approve of CEO
Morgan Stanley Smith Barney President Greg Fleming
Greg Fleming
4 Ratings

Review Highlights

Pros
  • Good understanding middle management about work/life balance (in 15 reviews)

  • Good benefits/PTO, fast-paced learning environment, great advisors (in 22 reviews)


Cons
  • There is a disconnect between the companies desire for Financial Advisor Associates to succeed and their actions (in 20 reviews)

  • Invariably, unless you are part of a team you will not make it through the training program (in 13 reviews)

More Highlights

4 Employee Reviews Back to all Reviews

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  1. 3 people found this helpful  

    If you want to jump into fire, then work here....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Advisor Associate in Chicago, IL
    Former Employee - Financial Advisor Associate in Chicago, IL

    I worked at Morgan Stanley Smith Barney

    Pros

    Nice People
    Brand Recognition
    You are not micromanaged, management is hands off as long as you reach your numbers

    Cons

    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).

    Advice to ManagementAdvice

    Focus on hiring qualified candidates and give them more support, you have to be losing a fortune with your current model of burn and turn, but you do keep the spoils of accounts from those you fire. You're diluting your brand through telemarketing and dinner seminars.

    Doesn't Recommend
    No opinion of CEO
  2. 1 person found this helpful  

    Slow movement, hard headed management. No room to advance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Analyst in Lake Barrington, Lake, IL
    Former Employee - Financial Analyst in Lake Barrington, Lake, IL

    I worked at Morgan Stanley Smith Barney

    Pros

    Benefits, flexibility. fellow analyst, facility

    Cons

    hours, intelligence, mobility upwards, pay

    Advice to ManagementAdvice

    let some younger brighter minds participate in decision

    No opinion of CEO
  3. 1 person found this helpful  

    Internship at Smith Barney Private Wealth Management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Intern in Chicago, IL
    Former Employee - Intern in Chicago, IL

    I worked at Morgan Stanley Smith Barney

    Pros

    good name to place on your resume, conveniently located near the train station, leaving for personal appointments is no problem

    Cons

    very old school in terms of management and culture, no ethnic diversity, corporate ladder at its finest, treat you like a robot

    Advice to ManagementAdvice

    no

    Doesn't Recommend
    Disapproves of CEO
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  5. 1 person found this helpful  

    Probably not the best choice

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Sales Assistant in Chicago, IL
    Former Employee - Sales Assistant in Chicago, IL

    I worked at Morgan Stanley Smith Barney

    Pros

    Bonuses can be good depending on the broker(s) you're working with. Hours are managable, not typically much more than 40 hours per week.

    Cons

    Very little recognition for work completed. Many brokers are very condescending and if you're stuck with the wrong broker(s) the bonuses may pale in comparison to other sales assistants.

    Advice to ManagementAdvice

    Have a better awareness of the salaries at competing firms. Tie bonuses into overall branch performance rather than leaving them up to brokers.

    Doesn't Recommend

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