Filter by location to see Merrill Lynch salaries in your area. Merrill Lynch Financial Advisor salaries are collected from government agencies and companies. Remember, it's a SALES job first and foremost. I enjoyed reading about the going-on at ML regarding their updated FA training program. We agreed to not use his name and to be careful about releasing any personal details about him. I think it’s a natural cause of a large organization. I’m not writing this to toot my own horn. We are pleased to convey them to our readers because this person not only has observations that give a feel for what’s going on there but shows the many changes that are taking place in the wirehouse world — and perhaps particularly at Merrill Lynch. He would meet with me more if I asked him to. Check the background of your financial professional on FINRA's BrokerCheck. Salary . Maybe you'll like cold-calling people all day and sending out letters asking for business. Taking out 150k in loans for a chance of making it big to me seems like the ROI is horrible. For example, I’m almost a full year ahead of my production goals. If there is someone who fails in the program, it’s sad, but I’m confident that if they asked for help, they’d get it. Many grew up that success was a lot of hard work and that successful people were arrogant. Why not look into a MSF or keep throwing your name in the hat. Even in my business, coaching, I’ve had to “fire” of clients who don’t or won’t consistently “do the work” they agreed to do. I've done an internship at ML during college, it sucked pretty bad. Graduating this weekend from the University of Georgia with a BBA Finance degree with 3.9 in the Honors Program. Apply for the Merrill Lynch Financial Advisor Development Program position (Job ID: 20048526), with openings in multiple locations, at Bank of America. or Want to Unlock by signing in with your social account? I do agree with you being a struggle early on, hence there are better jobs out there. My mentor — who was responsible for this former trainee as well — has been incredibly successful in this business for decades at Merrill Lynch and other wirehouses. The notion that some people believe that this program is designed to make recruits fail and not succeed is a bold statement, but it’s entirely false. I’m in a market geographically that I’m not native to and therefore had no network to start with,” he said in an exchange of e-mails from his personal account. Salary information comes from 457 data points collected directly from employees, users, and past and present job … See: RIAs need to step it up in this market turmoil – or pay the consequences. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). It’s so comfortable doing what we’re doing, isn’t it :) And people should be comfortable. I am in the interview process with ML, Edward Jones, and Principal Financial Partners (subsidary of MassMutual) all in Atlanta. ©2005-2020 Wall Street Oasis. If you truly want to do law then you should keep on pursuing that. It’s like taking “guestimates”. I know that if I’m going to fail at Merrill, it’s going to be my fault. 1) Source: Age Wave/Merrill Lynch, "Finances in Retirement: New Challenges, New Solutions," 2017. Actually is not for 99.9 % of people, its not just intellectual its pure sales unless u get hired by a team. I’m in a market geographically that I’m not native to and therefore had no network to start with. Find a nearby Merrill Lynch financial advisor to help with your financial needs and wealth management. With over 14,000 financial advisors nationwide, we can connect you with the right person for your needs. OR that what we wanted wasn’t possible. I started with another trainee who was let go earlier this year because he couldn’t bring in the assets he needed to reach his production goals. Some in the RIA arena were quite positive about Merrill’s new and others were stunned that Merrill is offering CFP courses and other financial planning techniques. I’m halfway through the program in a satellite office. My point is to simply say that it’s possible for anyone to be successful here who wants it bad enough. Get instant access to lessons taught by experienced private equity pros and bulge bracket Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries), All-access Pass: All Interview Courses & WSO Services. Probably not! Merrill Lynch of Greensboro misled me into accepting a sales/Financial advisor position without describing the quarterly and yearly total asset goals needed to stay in the PMD program. The national average salary for a Merrill Lynch is $126,602 in United States. It wasn’t a good fit for him and he wasn’t willing to put in the effort to be successful. The worst part is that the “trainers” are people who were never successful in the business to begin with. Over the years, it’s been interesting to see first hand that people are more afraid of success than failure. The entire program is designed to make recruits fail and NOT succeed. I never thought about “training away”, but I’ll consider it. They turn themselves into type “d” clients. Instant gratification, of course, doesn’t provide long term success. not wanting to feel out of control. Average Bank of America Financial Advisor yearly pay in the United States is approximately $63,794, which is 6% below the national average. 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