Merrill Edge

www.merrilledge.com

Merrill Edge Reviews

Updated January 15, 2015
Updated January 15, 2015
78 Reviews
3.1
78 Reviews
Rating Trends

Recommend to a friend
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David Darnell
32 Ratings

Review Highlights

Pros
  • I met a lot of great people while working here (in 6 reviews)

  • Good benefits that's all, some of the lower management does try (in 5 reviews)


Cons
  • The place stinks, the company does not care about you all they care about is the call center metrics (in 9 reviews)

  • Merrill Edge asked that you memorize a script to use with each and every client (in 6 reviews)

More Highlights

Employee Reviews

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  1.  

    Merrill Edge Financial Solutions Consultant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Edge

    Pros

    Great people throughout the office. No matter where I turn, people are there for help and guidance. Whether it be from lead and or colleague, there is plenty of positive vibes and help around the office. Plenty of room for growth within and it usually happens rather quickly if you have a sense of what you are doing.

    Cons

    Salary and bonus are low initially, but they grow quickly once you move forward. If you aren't interactive and or satisfied with spending long periods of time on the phone, this isn't the place for you.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great role getting into investments

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Solutions Advisor in San Francisco, CA
    Current Employee - Financial Solutions Advisor in San Francisco, CA

    I have been working at Merrill Edge full-time (more than a year)

    Pros

    Base salary including bonuses are good for what it is. Fairly laid back, it's simple just do the job and management stays off your back. Very minimal micromanagement if you just do the job. It's simple, open accounts, bring in new assets. Great business opportunities in walk in business. Great place to start an investment career.

    Cons

    You don't own the book of business. You'll come across menial bank duties that downplay the role by sometimes handling banking issues for customers who are of none or little value of your time. You can't customize a portfolio under a managed fee. Managed solutions are template-styled risk strategies. Sales tracking is terrible.

    Advice to ManagementAdvice

    Allow the opportunity to retain the compensation for a managed book. With Merrill Edge as Bank of America's/Merrill Lynch's most profitable segment, provide larger compensation and invest further into sales tracking.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great Place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Solutions Advisor in Pennington, NJ
    Current Employee - Financial Solutions Advisor in Pennington, NJ

    I have been working at Merrill Edge full-time (less than a year)

    Pros

    Paid a base salary with full benefits to study for the series 7 & 66. Works class benefits . No cold callig the company provides you with existing client leads in the form of campaigns as well as customers calling in! You have a base salary and have the opportunity to say you are a financial advisor at one of the most prestigious firms in the world. If you have good phone skills you can be very successful here yoj get what you put into it. The job is easy yes you have to handle service issues for clients but it's an opportunity to convert service to sales .

    Cons

    Compliance is pretty strict but it's in the best interest of our clients . Also the metrics are a pain to keep track of which senior management is aware of and it seems like they are making strides to improve it. Some FSA's don't like cross selling products but I personally find it advantageous when we can offer our clients a broad range of financial services .

    Advice to ManagementAdvice

    Edge has come a long way over the past few years in revamping its training process and I think it's headed in the right direction.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Awesome company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Consultant in Jacksonville, FL
    Current Employee - Investment Consultant in Jacksonville, FL

    I have been working at Merrill Edge full-time (more than a year)

    Pros

    Great access to management
    Constant growth often trial
    Outstanding benefits
    Big company with a lot of different roles

    Cons

    None I really like this company

    Advice to ManagementAdvice

    Give me a promotion otherwise keep on keeping on

    Recommends
    Positive Outlook
  6. 1 person found this helpful  

    Moving in wrong direction

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Edge full-time (more than 3 years)

    Pros

    Good work/life balance (bank hours plus some from home work), decent salary/benefits package and good compensation plan if you know how to sell, meet your goals, & also know how to comprehend a very complex comp plan/ production tracking system.

    Cons

    More and more you are expected to be a cookie cutter advisor/personal banker, you have little to no flexibility when it comes to how you would like to drive business. Even though you have 3-4 stated sales goals, you have about 15-20 other "goals" or "non negiotables" that you also have to complete each week/month such as the number of bank products you sell (now the requirement is we have to sell & close at least 1 car loan a month, I, as an advisor usually will try and help people avoid debt, but now the company is telling us we need to push them). You are asked to do alot not only from high goals but then also from a tracking perspective also because the systems they use do not systematically track all of your sales so not only do you have high sales goals you will spend a decent amount of time making sure you get credit for the stuff you sell. Also, at least in my territory, feedback is not welcome, when you ask a genuine question with the intent of trying to find a solution or even just provide feedback you are met with the response of 3-4 sales managers who basically tell you to shut up and just do it becaus they pay you a salary so they can ask you to do anything they want. You learn quickly to be a cheerleader and to not speak up even at the detriment of possible finding a solution or doing things in a better way. If you are someone who is an actual financial advisor you will struggle because of all the other stuff you are required to do.

    Advice to ManagementAdvice

    Allow FSA's to come up with own business plans, stop moving in the direction of micromanaging everything and making every advisor the same (ie cold calling doesn't work, stop forcing every advisor to do it, especially on a recorded line), try and have some consistency, stop changing comp plans, goals, and responsibilities every quarter. Actually try and listen to feedback from the field, most advisors want this program to succeed and their feedback is built on trying to grow the whole program, stop treating it with such indifference.

    Recommends
    Negative Outlook
    No opinion of CEO
  7.  

    Good

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Specialist
    Current Employee - Investment Specialist

    I have been working at Merrill Edge

    Pros

    Gain industry Experience and lincensing

    Cons

    Lacks professional atmosphere hard to take job seriously

    Advice to ManagementAdvice

    Be more professional and provide pay increase on base salary for associates taking on more responsibility in new positions not hide increase in possible bonus

    Recommends
    Positive Outlook
    No opinion of CEO
  8.  

    Great opportunity for Sales oriented and driven individuals.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Sales
    Current Employee - Investment Sales

    I have been working at Merrill Edge

    Pros

    Good income potential if you hit your goals.

    Cons

    Goals change on a consistent basis like any sales job to keep employee within budgeted income plan regardless of production.

    Recommends
    Positive Outlook
  9.  

    Excellent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Fsa in Jacksonville, FL
    Current Employee - Senior Fsa in Jacksonville, FL

    I have been working at Merrill Edge full-time (more than 10 years)

    Pros

    Non commissioned and ability to advise

    Cons

    Call center and poorly aligned comp plan

    Doesn't Recommend
    Positive Outlook
  10.  

    Acceptable temp job as you search for a true career.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Solutions Advisor in Chandler, AZ
    Former Employee - Financial Solutions Advisor in Chandler, AZ

    I worked at Merrill Edge full-time (less than a year)

    Pros

    The only benefit is to get your licenses and get out.

    Cons

    This was by far was the worst experience I've had. The systems were very outdated and you need to track all of your sales, if not you won't receive any sales credit. The managers are just glorified sales reps with no true management experience. It felt that compliance was in place only for the industry requirements but they turned a blind eye for all the "A" shares the reps push. Not recommended for an experienced advisor. I find it a joke when I read these false reviews from recruiting and management trying to make this company look career worthy.

    Advice to ManagementAdvice

    B of A should pay more attention to the MEAC centers and regulate how the business is ran. Just look at the employee turnover and you will see an ongoing retention issue.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Hands are tied here...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Edge full-time (more than 3 years)

    Pros

    Nice co-workers despite insane turnover within the branches. Decent benefits.

    Cons

    Systems are not user friendly at all and crash alot. Compliance is an absolute nightmare, like Big Brother breathing down your back and then some! Goals are the same for everybody no matter your location, so if you are in a high traffic banking center you will be fine but if you are in a low traffic center you will most likely have trouble making your goals. Too many things on your plate -- your goals are investment driven, however you are supposed to be a personal banker and product pop banking products to hit a number of sales interactions per customer seen

    Advice to ManagementAdvice

    Too much emphasis on the banking/investment relationship, FSA's need more autonomy then what they presently have.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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