Morgan Stanley

  www.morganstanley.com
  www.morganstanley.com
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1 person found this helpful  

Great learning experience but with high expectations and very little support

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Financial Advisor Trainee
Current Employee - Financial Advisor Trainee

I have been working at Morgan Stanley full-time (more than an year)

Pros

-Compensation for study time to focus 100% on series 7, series 66, insurance
-Training sessions at Headquarters in NY and encouragement to connect with successful FA's
-Attempts to build in weekly training sessions at the branch level

Cons

-Position is currently built for older, experienced individuals to succeed. Without an established affluent network, it's difficult to meet the requirements under the given timeline
-Very little opportunity for partnering if you weren't hired for a specific group
-Sink or Swim mentality

Advice to ManagementAdvice

The way the current FAA program is set up, the firm spends a substantial amount of money training individuals to succeed at different firms. It's rare for younger individuals to have an established affluent network, and building one takes time. Compound that with a lack of experience in the investment industry and young FAA's start to hit their stride just about the time they get let go. What's missing is a strong mentorship program. Young FAAs need successful models from whom they can learn effective habits - it's not effective just to provide info. Much of the ramp up time is wasted figuring out effective practices. My suggestion would be to redefine "partnerships" so that established FA's looking to take the next step can take on an FAA as a jr partner without it affecting their compensation and making it an established practice for the majority of new hires. The military follows the "watch one, do one, teach one" model, I think it would be a far more effective use of capital to have an older FA as a consistent resource to a new advisor. It would also build in better day-to-day accountability.

Recommends
Positive Outlook
Approves of CEO

1780 Other Employee Reviews for Morgan Stanley (View Most Recent)

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  1.  

    Things Have Changed For The Worse

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY

    I worked at Morgan Stanley full-time (more than an year)

    Pros

    Interviews were once quick, with only a cold calling test. No business plans, no personality or math tests, no managers strining you along, no group interviews. I suspect bringing on Smith Barney caused the firm to go to hell.

    Cons

    Interviewing has gone to the dogs. This is a firm that desperately wants to be Merrill Lynch. It will never happen.

    Advice to ManagementAdvice

    Give up the wannabe schtick and bring back the professionalism once present.

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

    Top-Heavy with management that does little but resource allocation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President In IT in New York, NY
    Current Employee - Vice President In IT in New York, NY

    I have been working at Morgan Stanley full-time (more than 3 years)

    Pros

    Good and robust technology infrastructure

    Cons

    Company has an upper level management that manages technology with little understanding of what they are managing. Most managing directors have not done anything hands-on in years.

    There's any army of PMO people who are highly paid to ensure that allocation are done properly. The focus is on how to save money by outsourcing to India and reducing headcount. One of the highest level Managing Directors in technology was a lawyer who barricades himself in his corner office. Much of the IT talent has fled. Very hierarchical, almost with military rigidity.

    The place has become so cheap that they cut out bagel Fridays, even though most of the cost was covered by employees anyway.

    Advice to ManagementAdvice

    Chop off a lot of the senior management that add little to the bottom line. When most of them are gone during the holiday season, the company runs fine without them.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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