Anyone know how much does Financial Advisor Associate make at Morgan Stanley? I’m seeing 71k base + 51k additional pay. I was offered a FAA position but right now but I just started as a Relationship banker at Chase 2 months ago. I’m in the process of getting my licenses at chase( series 6,63 and life and health). I just passed my SIE. Any advice would be much appreciated!

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I’m sure it varies. For me- 65k - decreases by 10% every quarter starting at one year. You get 25% of your commissions until your T-12 revenue equals your salary, then your commission increases to 40%

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BA1- you are provided no prospects.

Just an FYI: you’ll need a series 7 for MS and you’ll have to take the 65 too.

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I have the books for the series 7 and I was planning to take the 65 without sponsor.

How long did you study before taking the SIE exam ?

Studied 8hrs a day for a full week cuz I already have a finance background I learn a lot of the material in college. I think everyone is different it really depends if you truly understand the material. SIE covers stocks, options, mutual funds, bonds, rules and regulations, variable annuities and suitability questions. I have a friend studied for 2 weeks 8hrs a day and still failed. It’s not a easy definition exam, the knowledge you’re being tested on is understanding. FYI- getting 80-85 on ad banker exams does not guarantee you’ll pass. I would purchase other vendors too.

helpful

You should try to be an Independent Financial Advisor to earn more

With experience I’d agree with this. Better to get some experience at a big firm first instead of jumping straight in. My experience working at a big firm has been more valuable than anything the tests taught me. Plus you get to learn from not only the work but the plethora of other financial advisors you get to work with.

That base pay is really high for an associate advisor though. But as the poster above me said - the real money lives where the independent advisors are.

Will the bank sponsor your 7 and 65? I’d get those asap.

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