Merrill Edge

www.merrilledge.com
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Merrill Edge Reviews

Updated February 26, 2015
Updated February 26, 2015
77 Reviews
3.4
77 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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David Darnell
31 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.  

    Financial Solution 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

    Company pay for your study time and licenses.

    Cons

    Call Center environment may not be suitable for everyone.

    Advice to ManagementAdvice

    Communication

    Recommends
    Positive Outlook
  2.  

    This is a great place to start your financial career!

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

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

    Pros

    1. S7/S66 licensing paid to study
    2. Salary and Comp is great you can make A LOT of money in a short amount of time if you are successful (60-120k+ depending on what platform you are on)
    3. You can be promoted up the tiers in as early as 3 months if consistent and the goals aren't that hard to hit if you work hard (you don't have to work late to hit goals as long as you are efficient with your time).
    4. The floor has a very positive attitude with team leads always willing to help you. Everyone is friendly and tries to help you out. You will see a lot of FSAs taking time out to help other FSAs.
    5. Strong leadership with a great expectation in the future.
    6. No cold calling!
    7. Fun company outings/events (Company picnic, cultural events, bowling night, etc...)
    8. If you show strong interest in a certain segment they will take that into consideration for being moved around if an opening appears.
    9. You are not just a number here, upper managements will recognize you and the effort you put in and you will be rewarded.
    10. This is a great place to start out of school do not be intimidated

    Cons

    1. Tracking goals can be an issue since its not always picked up that's why you need to track everything you do manually.
    2. Benefits are OKAY not the best.
    3. Sometimes you have to deal with tedious tasks that take time away from advising (Bank/Middle office requests)

    Advice to ManagementAdvice

    Do not turn into a micro managing style, everyone like to be left alone and run their own little business. It has not started yet and I hope it never does. Other than that it's truly a great place and the upper management actually cares about you.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Don't do it unless you want to get licensed and leave

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Customer Service Representative/Investment Specialist I in Chandler, AZ
    Former Employee - Senior Customer Service Representative/Investment Specialist I in Chandler, AZ

    I worked at Merrill Edge

    Pros

    Great benefits with HSA Plan to cover out of pocket expenses for co pays and prescriptions

    Cons

    Poor training on the systems. Horrible license training..managers come in all excited in thrthe beginning, but shame people on test scores of practice exams. Pull regular reps off the floor to attempt to train on Series 7 licensing, most of whom felt uncomfortable and couldn't help. Need to have an actual proctor to teach to exams required.

    Advice to ManagementAdvice

    Get in managers who don't sit at each others desks and gossip about other employees. Get a proctor to train for series 7 and 63 licensing

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    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
  6.  

    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
  7.  

    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
  8.  

    Not the position that is sold to you during the interview

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

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

    Pros

    Benefits are ok
    Work with friendly people in the branch for the most part

    Cons

    Systems are very outdated and definitely not user friendly
    You WILL do menial bank duties often, handling banking issues for customers who are of none or little value of your time
    Compliance is a nightmare
    FSAs are expected to handle a large majority of service requests instead of advising
    HUGE focus now on pitching banking products like "Preferred Rewards"

    Advice to ManagementAdvice

    Stop the focus on banking and get us back to focusing on what we should be doing which is investments.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    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
  10. 2 people 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
  11.  

    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

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