Merrill Edge
2.6 of 5 41 reviews
www.merrilledge.com Pennington, NJ 5000+ Employees

Merrill Edge Reviews

Updated Jul 8, 2014

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2.6 41 reviews

                             

65% Approve of the CEO

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David Darnell

(17 ratings)

47% of employees recommend this company to a friend
41 Employee Reviews
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    Exceptional place for a performance driven career.

    Financial Solutions Advisor (Current Employee)
    Pennington, NJ

    ProsI will never find a better group of co-workers. "Unlimited" salary, as long as you can grind it out

    ConsPersonal growth is limited to only within Edge- they say that you can move around the organization (advisors to analysts and vice versa), but it is very unlikely.

    Advice to Senior ManagementUnderstand how employees want to grow and actually put the extra effort for the employee to excel instead of driving them away with warnings.

    Yes, I would recommend this company to a friend

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    It could be better...

    Operations Analyst (Current Employee)
    Pennington, NJ

    ProsMeet great people, laid back office culture, lots of amenities on work campus (cafeterias, gyms, outdoor activites etc.), great work/life balance

    Consnot much room for advancement unless you are "in" with the right crowd, low pay

    Advice to Senior Managementmy management is great!

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

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    1 person found this helpful  

    Merrill Edge

    Anonymous Employee (Former Employee)

    ProsFlexible, growing, fast moving, good entry point into brokerage, location

    ConsNot marketable pay, convoluted incentive plan, inexperienced and disengaged sr leadership.

    Advice to Senior Managementdeliver on promised compensation. develop more engaged leadership.

    No, I would not recommend this company to a friend

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    Terrible Place for Employees & Clients

    Financial Solutions Advisor (Former Employee)
    Chandler, AZ

    ProsAbsolutely none. This is worse than the minor leagues of investing. I know many current and former employees and none think this is a good place to work. While reading other reviews I laughed out loud when reading a 3, 4 or 5 star rating. My guess is that 4 & 5 star ratings have been submitted by recruiters and management. The 3 star ratings come from those who don't know better. This firm has high turnover for a reason- they work over employees and clients.

    ConsMost firms supervise advisors to prevent bad behavior, Merrill Edge Management places pressure on their advisors to generate revenue regardless of the best interests of clients. Management is the problem.

    Revenue gets you promoted and class A shares generate the most revenue- Advisors must sell A shares.

    Employee turnover is high throughout this company for various reasons, mostly the cookie cutter approach to slam clients into a short list of "on process" products and following a script to introduce yourself, profile the client and make a recommendation in 20 minutes on every call.

    Those who do best are new hires with no experience and limited knowledge of the business and are naive enough to do exactly as they are told.

    Training consists of how to take control of an incoming call for service and turn it into a sales opportunity.
    Employees introduce themselves as the client's Financial Advisor without revealing they are paid based on production not service and rewarded more to sell front-end loaded mutual funds.

    Any Financial advisor worth their salt will recognize Merrill Edge for what it is- a company that focuses on reaching their revenue goals at the expense of hurting their client's ability to reach their financial goals.

    Bad management, limited products, strict performance metrics, scripted calls, unequal weighting of share classes that place pressure on Advisors to sell class A shares, limited training on investing, investment products or financial planning, focus on taking advantage of unwary clients- hopefully they know less than the new hires they are speaking with. Most advisors and management have very few years of industry experience.

    Advice to Senior ManagementThe fish rots from the head and so does Merrill Edge. Many unwary new hires accept positions believing they will do well if the act in the best interests of the client. The employees who do well are those who generate the most revenue. Merrill Edge management is young, inexperienced, incompetent and thick as thieves. The entire focus of management is to gather new money from clients and squeeze as much revenue as possible from each client. Management gets paid on the production of advisors and REVENUE is the GOLD standard. Expect to receive little training on financial planning and portfolio management. Merrill Edge management does not want you to frame choices for clients, they want you to tell the clients what's best for them and to trust you because you are there to help.....you are there to generate revenue and until changes significant changes are made from the top will this change.

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

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    Financial advisor for the less affluent

    Anonymous Employee (Current Employee)

    ProsThey give you the clients

    ConsOpportunities are primarily based on which bank your placed

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    Great Company to work for

    Anonymous Employee (Current Employee)

    ProsPotential for high bonus, quick advancement opportunities if exceed requirements

    Consrecruiters not interested in individual goals of employee just filing a class

    Advice to Senior ManagementBe open to new ideas and things

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    Great company, great products, and great opportunities for those that want to advance.

    Investment Specialist Senior (Current Employee)
    Jacksonville, FL

    ProsSolid brand with the backing of one of the biggest financial institutions in the world. Constant improvements are being made monthly. Leadership staff is approachable and competent. Getting the chance to be sponsored for multiple licenses is a major plus.

    ConsOutdated systems make things rough sometimes. New hire training has not focused enough on the nuts and bolts of the job.

    Advice to Senior ManagementStay the course and continue driving excellence in all operational areas.

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

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    2 people found this helpful  

    Brutal office politics

    Financial Solutions Advisor (Current Employee)
    Troy, MI

    ProsCompensation was better than most companies. But they work you to the bone for it, and criticize you the entire time.

    ConsHours of boredom, brutal office politics, no appreciation

    Advice to Senior ManagementFire everyone that advises you

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

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    Salesy

    Anonymous Employee (Current Employee)

    ProsThe incentive is Pay and benefits

    ConsIncentive to provide poor client service

    Advice to Senior ManagementRemove huge incentive to sell A share mutual funds

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    Really Great place to work at!

    Financial Solutions Advisor Core I (Current Employee)
    Hopewell, NJ

    ProsThis place is great to work at! Huge room for growth! Great training program! If you want to learn and succeed , this is the place to go to. Some people get promoted within 3-4 months and even move up to Premier level in 9 months! You can make some seriously good money!

    ConsEven though the salary starts low as 35K but you can get out of that within a few months. So really there are no cons. They treat you super well here and the people are great!

    Advice to Senior ManagementKeep up the good work and keep helping our FSA! You guys have been amazing!

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

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