{ "media_type": "text", "post_content": "How is the Morgan Stanley FAA program? I know that success is based on revenue generated over the 3 years, but does anyone know what the NAA requirements are (if any)?", "post_id": "610a0eb07e8295002a7aec29", "reply_count": 5, "vote_count": 2, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

How is the Morgan Stanley FAA program? I know that success is based on revenue generated over the 3 years, but does anyone know what the NAA requirements are (if any)?

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For what it’s worth I went through it back in 2008(great timing). Nearly 100 in the training class. Last I tried to look only 7-8 were still in the industry. I was the only one who wasn’t on a team that survived. Back then the training was cold calling. Which was total bs then and now there’s no way to prospect from such lead list. The asset goals then were not easy, I can’t imagine what they are today.

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Like FA1 said, it’s revenue focused not asset focused. For performance (to see if you stay in the program or not) advisory revenue is projected to be annual based on assets because it’s assumed to be recurring. Example. You bring in 1mm in assets and charge 1%. You haven’t technically gotten all the revenue because it comes out monthly but it’ll count as 10k revenue for performance evaluation. Transactional revenue comes from brokerage, insurance, annuities, etc that aren’t recurring. The combination of the two determines where you stand and if they’ll keep you throughout the program. They did recently make a change to where it’s now a 5 yr rather than a 3 yr program and the focus is on planning more than brokerage services.

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