Morgan Stanley - Financial Advisor Associate Program | Glassdoor
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Helpful (3)

"Financial Advisor Associate Program"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Financial Advisor Associate in Tampa, FL
Former Employee - Financial Advisor Associate in Tampa, FL
Recommends
Neutral Outlook
Approves of CEO

I worked at Morgan Stanley full-time (More than a year)

Pros

The FAA Program is a great place to get your licenses and get the training you need to launch a financial advisory practice. The firm has excellent resources, technology, name recognition. The salary paid during the first part of the training program is important as you try to build your business.

Cons

It is very difficult to meet production goals. Invariably, unless you are part of a team you will not make it through the training program. It is clear that the true goal of the program is to bring in new assets and retain those assets. The trainees are merely cogs in the machine and 90 percent of trainees don't make it - whether it is as the end of year 1, year 2, or year 3. Many go on to other firms and do fine so all is not lost, it can just be a little depressing when you figure it all out.

Advice to Management

You need to revamp the wealth management training program so that you are keeping more of the young blood in the firm. It takes 3 to 5 years to build a viable practice so the firm should lower some of the production goals initially and extend the salary for a bit longer. There should also be better coaching on the team process since ultimately the successful advisors are the ones that are on teams. In this day and age the solo practitioner who can build a business by cold calling is gone. Coach your branch managers on this fact since many of them have been singing the same "back in my day" song for too many years.

Other Employee Reviews for Morgan Stanley

  1. "Financial Advisor - Tough job but good pay if you succeed"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Buffalo, NY
    Former Employee - Financial Advisor in Buffalo, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Morgan Stanley full-time (More than 8 years)

    Pros

    Very prestigious firm. That's a big plus when trying to win new clients.

    Cons

    Failure is a high probability if you don't already have a book of business.

    Advice to Management

    Do a better job of preparing new-hires for the emotional realities of the job. I was one of the lucky ones who made it. When I left to become an independent, I was an AVP. I still wonder though, whether or not it was worth it.


  2. "FA experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Pittsburgh, PA
    Current Employee - Financial Advisor in Pittsburgh, PA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Morgan Stanley full-time (More than 5 years)

    Pros

    Obtained all my credentials on their dime

    Cons

    What they don't tell you is not only is this extremely competitive, but stranded accounts from terminate FA's go to "preferred FA", which is not always objective to production levels.

There are newer employer reviews for Morgan Stanley
There are newer employer reviews for Morgan Stanley

See Most Recent

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