Thoughts on the Morgan Stanley Wealth Management Associate Role? Is this a path to FA through MS? Has anyone heard anything about this position? Pros and Cons?

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It opens the door and if you’re good perhaps it provides opportunities into a team but at the end of the day to be successful it comes down to if you can bring in assets

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Wouldn’t do it unless you have a big network or a big book you can bring over. Very high failure rate. I’m not sure what the exact figure is, but Merrill’s is a 96% failure rate and I’m sure MS isn’t too different. Most fail out and the little business they bring over goes to the guys that have been there and the fat keep getting fatter. RIA’s are the new wave of the future.

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The FA industry is trending away from the wirehouse model. It’s laden in sales, products, and book building. You will be a glorified sales person, not a fiduciary financial planner.

If you goal is to be a FA, then explore going the route of RIA or residency program. If you want to be in sales, take the job.

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Google “financial planning residency programs” there are more of these setups becoming a thing. Kitces as a great blog article and podcast on it too!

Yes, they hire you full time with salary for 2-3 years then you launch out.

Very competitive.

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