Morgan Stanley Smith Barney

  www.morganstanleysmithbarney.com
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Morgan Stanley Smith Barney Reviews in Chicago, IL

Updated Apr 1, 2014
All Employees Current Employees Only

3.5 21 reviews

50% Approve of the CEO

Morgan Stanley Smith Barney President Greg Fleming

Greg Fleming

(6 ratings)

65% of employees recommend this company to a friend

Review Highlights

Pros
  • Additionally, the hours are extremely good and able to maintain a great work life balance(in 11 reviews)

  • Good benefits/PTO, fast-paced learning environment, great advisors(in 21 reviews)


Cons
  • There is a disconnect between the companies desire for Financial Advisor Associates to succeed and their actions(in 19 reviews)

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

21 Employee Reviews Back to all reviews
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    Terrific

    Intern (Former Employee) Chicago, IL

    ProsI like the feel of the group and the provided me with the encouragement to make me believe I can achieve anything.

    ConsVery stressful and they had a very lenient workplace dress code. People would always show up late.

    Advice to Senior ManagementConsider enforcing a tardy policy

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Disapproves of CEO

    1 person found this helpful  

    Formerly an excellent company but has gone downhill

    Financial Advisor (Former Employee) Chicago, IL

    ProsFormerly well-managed, could possibly become so again
    Good corporate culture with well communicated initiatives
    Good benefits

    ConsFrequent changes in structure, products, services which negatively affect customers
    Company claims to make optimal use of employees skills and experience but this is not true, if you are in a position beneath your abilities it is almost impossible to become better matched
    Be careful if you are hired as a financial advisor because their business model is set up to use you for your contacts and network and then give them to "tenured" advisors.

    Advice to Senior ManagementChange your business model so that you have specialized each of sales/marketers, portfolio managers, and service personnel instead of making your advisors do all of these roles at once. Because advisors have to constantly bring in more business, they neglect their clients portfolios and performance suffers. Also, make it mandatory to re-assign the over qualified employees.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

    1 person found this helpful  

    The people I worked with at Morgan Stanley were great, and that made coming into work enjoyable.

    Client Service Associate (Former Employee) Barrington, IL

    ProsMorgan Stanley has a great work environment where everyone is willing to help each other out. The employees work very hard and in turn get rewarded for it.

    ConsI was only working at MSSB for a short period of time so I don't really have anthing negative to say about the company. However, just like at any other large company your role can seem very small.

    Advice to Senior ManagementI enjoyed the management at my office.

    Yes, I would recommend this company to a friend

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    • Culture & Values
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    My experience with Morgan Stanley Smith Barney has been great.

    Client Service Associate (Current Employee) Chicago, IL

    ProsService-minded culture which includes not just our customers, but an active participation toward charitable organizations as well.

    ConsRecent company software updates sometimes hinder branch workflow.

    Advice to Senior ManagementFix company software issues.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Wealth Management Intern: MSSB

    Wealth Management (Former Employee) Chicago, IL

    ProsThe hardworking and welcoming staff made the office culture and overall environment a great place to work. Any and all questions I had were welcomed and thoroughly answered, and the staff as well as management team made accommodations to ensure I received full course credit for the work I did.

    ConsI truly cannot think of a negative aspect as the experience I had was extremely educational and rewarding.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great learning opportunity and chance network with wealthy individuals

    Private Wealth Management Intern (Former Employee) Chicago, IL

    ProsPrestige of working for one of the top investment banks, great learning opportunity, great networking, beautiful office

    ConsLong hours, unhappy employees, definite hierarchy structure

    I worked with one CSA (essentially secretary) who was completely incompetent, rude, and moody yet had not been fired, let alone spoken to about her unprofessional and rude actions

    Advice to Senior ManagementProvide incentives for lower level employees (CSAs) to actually complete their work in a timely matter

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    • Disapproves of CEO

     

    Good Training Poor Follow Through

    Financial Advisor (Current Employee) Chicago, IL

    ProsGood training program that allows you to get licensed and trained to be a financial advisor. Co-workers are some of the best advisors in the industry.

    ConsManagements lack of understanding of the business. Focus is on top level producers and not trainees.

    Advice to Senior ManagementFocus on the future of the business which are your trainees. Baby boomer FA's are nearing retirement, then what?

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Disapproves of CEO

    1 person found this helpful  

    Horrible company!

    Senior Registered Associate (Former Employee) Chicago, IL

    ProsNone to praise about after joint venture with MS. Things just went downhill fast!

    Cons- Healthcare was changed Blue Cross Blue Shield to United Healthcare for benefits... costs went up as well
    - Technology and policies cumbersome
    - Management does not listen... it's all about the bottom line
    - No room for advancement at branch level- approached management to try something new in career- was constantly told... yes we'll work on that, and yet nothing happened. Just getting lip service
    - at mercy for advisors to pay you extra and bonuses. Firm base salary very low
    - It's all about the FA"s.... operations and other staff are a line item... extra cost for the firm.
    - no recognition for doing good work
    - absolutely no flexibility for work/home life balance. Only the FA's get that luxury.

    after the merger, things only got worse, horrible management, backwards policies, more paperwork.
    Overall stressful place to work in. After 15 year at Smith Barney, it was time to leave. Leaving the firm was my own personal decision. It was a dead end job to nowhere.

    There was also frustration with FA's in the office as well, they were not listened to by management.
    Payout was decreased.... for certain accounts. They are all for pushing their own MS products.
    Also frustrating to FA's was the abundance of fees being charged to clients with assets lower than a million.
    MS is trying get into Wealth Management and get the million and over clients.... majority of millionaire clients are already established. There first choice would not be MS.... most wealthy affluent people manage their assets with other high end banks that do cater to the rich no fees, elegant offices etc.

    MS is a wanna be and they should just give up......

    Advice to Senior ManagementRecognize your employees for a job well done--- whether it be a lunch, bonus, extra time off.

    More flexibility for operational staff and support staff- with work and home life balance.

    Increase pay!!!!--- the only people you pay well are the fat cat FA's and managers with insane salaries and bonuses.

    Listen to your employees.... however... I take it most of the management are "Yes" people for corporate in New York

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Morgan Stanley Smith Barney Review

    Compliance (Current Employee) North Chicago, IL

    Proslarge company opportunity in sales

    Consnon-sales opportunity is all in NY

    Advice to Senior Managementna

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Approves of CEO

    1 person found this helpful  

    Great Company

    Consulting Group Analyst (Current Employee) Chicago, IL

    ProsThey hire some of the most intelligent professionals in the industry. The learning potential is massive, turn over is not very high and employees are loyal. This is a fantastic company to work for.

    ConsI cannot think of any cons other than typical company politics.

    Yes, I would recommend this company to a friend

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