Merrill Lynch Advisor Training Program

Redfin / Other freehope
Oct 14 14 Comments

Merrill just bumped up their salary for their advisor training program to $65k for three years of training. They sponsor your Series 7, 66 and CFP. It sounds too good to be true. Does anybody have insider knowledge about what numbers they make you hit & their timeline to hit those numbers? How soon are they pushing you to make sales? Really appreciate any insight! thanks.

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TOP 14 Comments
  • Merrill Lynch / Finance
    green78

    Merrill Lynch Finance

    BIO
    senior wealth management professional
    green78more
    You start sales goals day 1 after you get your FA #. If you don't meet targets, you are out in 9 months. I can't tell you specific targets but they are not easy for a brand new person. The young, fresh out college newbies tend to make mistakes when starting out & they are out before they have time to correct them.
    Oct 15 2
    • Redfin / Other freehope
      OP
      Thank you for your insight. What is a better way to start out in the industry? I'm 3 years out of college and have some banking/ law experience.
      Oct 16
    • Merrill Lynch / Finance
      green78

      Merrill Lynch Finance

      BIO
      senior wealth management professional
      green78more
      Financial advisor career is usually the last job one wants to have, not the first. I suggest working in finance elsewhere first, to gain experience outside of this industry, then it's easier coming back into it.
      Oct 16
  • Seeing a normal salary on blind feels weird to me
    Oct 20 1
    • Redfin / Other freehope
      OP
      So sad ๐Ÿฅบ
      Oct 21
  • Merrill Lynch WUtY86
    The sales goals are based on three elements: (1) Households, (2) Net new money, (3) production credits.
    It can be a great program for the right person, and it really depends on what are career expectations are.
    If you are new to the industry, and interested in a career as a financial advisor, i would highly recommend it even though they push out a lot of FADPs at the 9mo.
    I recommend for two reasons (1) base salary paid even as you study for your licenses (2) you will have a ton of career options available to you even if you are pushed out, as other firms will see you licensed and Merrill is a top brand for FA recruiters.
    Oct 23 0
  • Northwestern Mutual Ope!
    Check out XY Planning Network before your join anyone in the financial planning space.
    Oct 20 0
  • Morgan Stanley beblinduse
    Itโ€™s a crazy program. Not realistic goals, will put you on probation quickly.
    Oct 20 0
  • Merrill Lynch Gfyq31
    Avoid.
    Oct 15 0
  • Business Insider / Other
    areporter1

    Business Insider Other

    BIO
    Iโ€™m a reporter. DM me to chat.
    areporter1more
    Oct 19 1
    • Redfin / Other freehope
      OP
      Thank you! I am not subscribed to bi but I have been noticing the positive marketing in the news regarding their new program and intentions of obtaining/holding onto advisors. I guess my question is what is the right angle to get into the financial advising industry? The more people I talk to about Merrill, the more they push me away from this training program.
      Oct 20
  • Bank of America Private Bank AnFe27
    Do you think itโ€™s a good salary?
    Oct 15 1
    • Redfin / Other freehope
      OP
      From my perspective, it sounds like a good salary while starting out.
      Oct 15
  • New / Consultant
    Joktzong

    New Consultant

    PRE
    Guidehouse
    BIO
    CPA, CISA, Circular A-123 Internal Controls, NIST 800-53 Revision 4.
    Joktzongmore
    Maybe start @65k and 3 years be 85-90k
    Iโ€™d be okay with that.
    Oct 16 0

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