On the path to becoming a financial advisor and my current opportunities are fidelity financial rep or BoA’s advisor development program. Could anyone provide some insight? #finance
I would say if you’re brand new it’s better to get licensed and fail at a place you don’t care about and move on to your preferred firm. I started at Edward jones, moves to Wells Fargo and landed at fidelity. While they’re right there’s less high net worth client and the fees are lower the support and culture is significantly better. Also you have a buttload of warm leads already since fidelity is massive at 4.2 trillion vs 353 billion at Merrill. You just have to decide between more pay & hours or fair pay & balance.
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BoA as in Merrill Edge or Merrill Lynch? I think ML is better than fidelity. If it’s ME, then flip a coin.
BoA as in Merrill Lynch. I’ve spoken to other FAs and it seems like that’s the general consensus. However, they did mention it didn’t really matter as long as I got my licenses.
So I’m not entirely sure but the clientele for ML should be higher net worth than Fidelity. Which increases your chances of higher bonus.