Banc of America Investment Services

  www.baisidirect.com
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Banc of America Investment Services Reviews

Updated Jun 9, 2014

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All Employees Current Employees Only

2.8 13 reviews

38% Approve of the CEO

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Tim Maloney

(8 ratings)

42% of employees recommend this company to a friend
13 Employee Reviews
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Pure Madness

    Anonymous Employee (Former Employee) Los Angeles, CA

    ProsPeople are OK. Job is interesting
    Reference materials are fine
    Pay and benefits are acceptable
    Office is clean and quiet

    ConsWay way too much work putting incredible pressure on all who work there.
    Between the volume and the number of different processes, it is untenable.
    Don't have enough time to get work done much less check reference to verify the process.

    Advice to Senior ManagementPay attention to adding new process and verify that existing staff can handle, otherwise hire more staff.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Registered Sales Assistant

    Registered Sales Assistant (Former Employee) Portland, OR

    ProsBeing treated like an adult

    ConsFA's have too much power.

    Advice to Senior ManagementBetter pay can get more loyalty.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Secretive, closed door management style keeps employees guessing

    Assistant Vice President (Former Employee) Dallas, TX

    ProsSalary and benefits are above average

    ConsSecretive, closed-door management
    Preferential treatment of small cliiquf of team leads

    Advice to Senior ManagementInclude employees in the news, share business details with employees, don't play favorites

    No, I would not recommend this company to a friend

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    its ok

    Financial Advisor Pathways (Former Employee) Melville, NY

    Prospaid training and you get benefits

    Consyour on your own no help

    Advice to Senior Managementnone

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Here you sit, don't think too hard

    Anonymous Employee (Current Employee)

    ProsFlexible, great benefits, pension and 401k

    Conspopularity, nepotism and butt kissing seems to be the only way to advance, very lax in updating procedures and providing performance updates

    Advice to Senior ManagementFocus on skills and attributes of employees regardless of social status in office, do not take feed back personally, respond to inquiries and suggestions

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Stay away from the IC

    Investment Specialist (Former Employee) Waltham, MA

    ProsThe investment Centers are great for flexibility of scheduling and simplicity of the job. You can get a day off whenever it is necessary and the management rarely gives you a hard time when taking a personal day. The job does not need you to worry about it once you log out, so it is simple in that you can do anything you want once you are out of the office.

    ConsLack of opportunities to move up and repetitiveness of the job. There is bad perception that if you work in the IC (investment center) then you are not worth promoting because people relate to individuals who work in an call center to be idiots. If you try to apply for positions outside of the IC you will almost never get a call back or a invitation for an interview from your internal recruiters. The job is ok in the beginning when you are learning about some trading restrictions and basic software usage but once you go over that learning curve then everything and everyday is repeating the same things, more than 95% of your calls will be the same as a call you handled before. If you are desperate for a job and need some benefits then you can consider working here but if you plan on moving up in BAC then you should stay away as far as possible (A personal banker with no security licenses could move faster than you could working in the IC) .

    Advice to Senior ManagementThe IC is a great place for you to look for FAs, researchers, and traders. In fact many of your so called "Financial Advisers" are so poorly trained that they do not possess basic ideas of asset allocation, financial models, BAI operation procedures and portfolio hedging strategies, yet you have IC (CALL CENTER REPS) reps who are well versed in these financial services practices and some even have advanced designations, charters and MBAs. So, look into the IC for your future stock researchers, traders, and advisers, I assure you will find some hidden gems.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    It was a job,not a career

    Registered Sales Assistant (Former Employee) Tampa, FL

    ProsBenefits and bank culture, nice people to work with, perks such as childcare stipend, decent products to offer, great hours

    Cons"not my job" attitudes, technology is horrible, some co workers are lazy or should just simply retire, clueless or noncaring attitude of some of the advisors and management.

    Advice to Senior Managementsome of the management had a bad attitude. The branch manager was great, but dealing with the manager below was an absolute nightmare

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    The right place to be for a career in financial services going forward

    Pathways Financial Advisor (Current Employee) San Jose, CA

    ProsA great institution who's branding alone can put a new Financial Advisor in front of Mass Affluent clients. Not many other firms can bring the amount of prospects to an FA that BofA can. The new ML platform will position the largest banking franchise with the best Financial Advisors out there. With 500k new high net worth client relationships coming in the door year over year. This is in addition to the approximately 8 million existing clients that qualify as Mass Affluent. For any young advisor looking to grow their practice, we all know how hard it is to market yourself to this segment. The bottom line is no other organization can put more clients in front of skilled people than BofA

    ConsAt the moment there is some cumbersome processes that slow down the production for FA's without sales assistants.

    Advice to Senior Managementnon

    Yes, I would recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Merge with Merrill right away and rehire the premier bankers.

    Financial Advisor (Current Employee) Walnut Creek, CA

    ProsThere are none. Highly disfunctional. Go to a wirehouse or a better bank brokerage. Once Merrill fully integrates the company, it may be a better place to work and the name recognition of the Bank may be a positive factor.

    ConsInsane policy and procedures. Compliance is out of control. Very hard to do any business. Technology is 15 years behind the industry. Morale is at an all time lowpoint. The premier bankers where fired and now the brokers have to manage checking accounts and lending for their clients without being paid to do so. Referrals from the retail bank are non-existent.

    Advice to Senior ManagementRetire and let the real Merrill guys run the firm. There are some decent managers but the entire system is flawed and needs to be scrapped.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    No integrity at Banc of America Investment Services.

    Financial Advisor (Current Employee) Tampa, FL

    ProsThe health care benefits, and the people up to but not including management.

    ConsThis is an organization that has no clue of how a full-service investment firm is supposed to operate. There is a complete lack of integrity on the part of management. They lie as to the opportunities to get you to join them, and then, once locked-into a long-term contract, change the requirements of the job, and changed the compensation plan so as to reduce my income to what I was earning 30 years ago. Please do not repeat my error. Stay away from this organization.

    Advice to Senior ManagementLet me out of my contract. Please!

    No, I would not recommend this company to a friend

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