Job with Morgan Stanley???

L

lasner

Hi I have a question for you guys. I'm interested in becoming a pro trader for a firm. I've been trading for a couple of years. Mainly on practice accounts for the first couple of years. The last six months I've shown a solid return by turning $3000 into $22000, I did this through writing options way outside of the money.

I just got hired with Morgan Stanley as a "wealth advisor" I don't really want to do it. The only reason I'm taking the job is because I'm hoping for a shot as a trader.

My question is this do you think I could go from a weatlh advisor to a trader with Morgan Stanley?

Let me know if anyone has any suggestions.
 
Quote from lasner:

Hi I have a question for you guys. I'm interested in becoming a pro trader for a firm. I've been trading for a couple of years. Mainly on practice accounts for the first couple of years. The last six months I've shown a solid return by turning $3000 into $22000, I did this through writing options way outside of the money.

I just got hired with Morgan Stanley as a "wealth advisor" I don't really want to do it. The only reason I'm taking the job is because I'm hoping for a shot as a trader.

My question is this do you think I could go from a weatlh advisor to a trader with Morgan Stanley?

Let me know if anyone has any suggestions.
More...
What exactly is a wealth advisor?
 
Quote from Truff:

What exactly is a wealth advisor?
More...

He is a seller of value added services to the MS client base.

a telemarketer of stocks. So he will cold call MS clients and push "strategies" or help them "review their accounts".

BTW, no chance at trader job. This is a sales job.
 
So you think there's no chance of me breaking into trading from being a wealth advisor, even with a good track record.
 
i doubt you can go from sales to a trader unless you apply for it once you're inside and know the people. You can make a lot of money doing what you're doing at MS though.

I have a friend who works for Prebon (Collin Stewart Tullett) in Singapore but she told me they're hiring globally for traders. If you're interested, go to their careers page http://www.cstplc.com/CST_Careers_E.htm

Just a thought.
 
Quote from lasner:

So you think there's no chance of me breaking into trading from being a wealth advisor, even with a good track record.
More...

Honestly, I doubt it. I believe you will be sent on training to learn to sell products. That's about it.

Have they mentioned training? What about a commission structure for selling? If "selling" comes up too much, then that's what the job is.
 
Quote from just21:

How do you turn $3k into $22k selling options? How far are you out of the money?
More...

Evidently not that far out of the money. No one can earn a 1,200% annual return selling premium.
 
Places like Morgan Stanley do not want traders selling naked options who come in through the sales route as a wealth advisor. Especially with the risk you took on to make that money.

If MS has a trading desk for options, then starting there as a clerk or gopher is the only way you can do it as an entry person. Wealth Advisors receive no trading training at all, you receive SALES training. The Series 7 exam you take for the position is as close to trading info as you will get.

Not speaking from personal experience, but from 3 friends who went that route hoping to get into trading. I really felt for those guys because they just did not want to see the handwriting on the wall.
 
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