Pros
Become a referral machine or an asset gatherer and make a very good wage. Very little use of licenses required because compensation structure is focused / aligned toward previous point. Focus on E*TRADE's goals and you'll do well financially. Morgan Stanley has great benefits.
Cons
Morgan Stanley has placed a lot of focus on Morgan Stanley financial advisors to current E*TRADE clients. All marketing campaigns advertise MS FAs to E*TRADE clients, however E*TRADE FCs were never advertised to clients before or after the acquisition. E*TRADE FCs are now compensated to be referral machines. The writing is on the wall when the generous NNA comp grid is reduced. The writing is really on the wall when the segmentation starts. It has started in a hybrid manner... No path forward for FCs has ever been announced.