its all about the fees form them now. they really dont focus on individual stocks anymore. i recently looked over a proposal a morgan stanley financial advisor made to a friend. they wanted him to roll over his 401k to an annunity that would pay 6%. the fees on it were 3.15 per year.
Is the "financial advisor" the new "stock broker"?
- Thread starter eagle488
- Start date
all financial advisors i know, don't know their azzz from a whole in the ground 
every 5 years or so the name changes. some guy from UBS gave me his card a few weeks ago and it said something creative like "wealth manager."
HAHA..i got one that said wealth manager from someone also
and he said he could buy stocks, mutual funds , set up retirement plans ,etc
so i asked him...so ur a stock broker...hes like ...no no no...we help our clients with other decisions like real estate choices ,etc
same crap buddy
Also.....the new Stock broker is a hedge fund manager
normal stock brokers usually approximated that they grossed 1% of customer assests (gross = before fees/ splits to house/ etc)
so why not manage thos assests and gross 2% with 20% kicker on the backend
...only makes sense
and he said he could buy stocks, mutual funds , set up retirement plans ,etc
so i asked him...so ur a stock broker...hes like ...no no no...we help our clients with other decisions like real estate choices ,etc
same crap buddy
Also.....the new Stock broker is a hedge fund manager
normal stock brokers usually approximated that they grossed 1% of customer assests (gross = before fees/ splits to house/ etc)
so why not manage thos assests and gross 2% with 20% kicker on the backend
...only makes sensein this case its really the old Dean Witter not Morgan Stanley.
You could ad AG Edwards, Raymond James and few others in this league, but more prestigious firms along the lines of UBS, ML, Bernstein are really looking for people 30+ with experience and grad degrees and as many certifications as possible.