Merrill Edge Reviews

Updated April 15, 2015
89 reviews filtered by
  • Any Location
  • Any Job Title
3.0
89 Reviews
Rating Trends
Recommend to a friend
Approve of CEO
(no image)
David Darnell
34 Ratings

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 Pros and Cons

Employee Reviews

Sort: Popular Rating Date
  1. Good opp to move up quickly

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Hours, exposure to different parts of the business, opportunity to advance, flexability, benefits package

    Cons

    low base, start at bottom, dated systems, QA too strict

    Advice to Management

    Let people be people and not robots with scripts and agendas. It'll translate into better customer experiences

  2. Quality company and good job. Lots of opportunity to move up very fast. Could be very fun but job just wasn't for me.

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

    I have been working at Merrill Edge

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    This part of the company is expanding quickly with room for growth and movement to other parts of the company.
    Opportunities for bonuses
    Tons of overtime availability
    Easy if you aren't in market hours

    Cons

    Not much flexibility within job hours
    Work is extremely draining for introverts (as you can imagine being on the phone alllllllll day)
    Micro-managed (bonuses sometimes tied to using phrases like "my pleasure" rather than "no problem")
    Can be chaotic
    Always rolling out something new and there is no way you can know everything you need to know (this part can be fun but yet a drag)

    Advice to Management

    Better pay and more flexibility

  3. Helpful (1)

    STAY AWAY

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

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

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    There are definitely a lot of good things about Edge. It's a rapidly growing firm that has a lot solutions for clients who are looking for an integrated platform for both banking and brokerage. They do pay you for training and licensing, but the training is severely lacking compared to the other programs within Bank of America/Merrill Lynch.

    There is a great support structure for those who work in the home office, especially at Hopewell. As a team-based call-center, there is usually always someone who knows how to handle an issue if you don't. The senior members of the team are always willing to help out the freshmen members. There are great opportunities to build relationships with your coworkers which makes the job much more bearable.

    Cons

    Here's where the cons outweigh the pros with the firm. Rapidly growing? Yes, but they are unable to handle the volume. As a result, Core 1 FSAs are required to make 60-80 calls to Premier clients that they cannot assist which takes a day or two from production. it's a call center as much as management doesn't want to admit it. The performance metrics that are required to be met are grossly overshadowed by the administrative and call-center metrics and expectations that are set for the FSAs.

    This is not wealth management; there is no relationship building with the clients as the call-center environment makes it nearly impossible for clients to only work with one advisor who knows their situation and the note-taking system crashes far too often for future FSAs to try and understand where the client is in their financial plan. The training at Edge is laughable at best. You learn nothing about building portfolios and financial plans for clients and barely even get trained in sales.

    Compliance is a nightmare. There are far too many FSAs doing things that should probably go through a trade review, but no one catches it since mass-affluent clients usually don't know enough to question their advisors. Management turns a blind eye if it leads to a sale or some other metric and makes them look good. While some people complain that compliance is doing too much, it is actually quite the opposite; compliance is not strong enough a presence to protect clients and advisors.

    Management is a joke. Managers are high-performing sales reps who had nowhere else to go and just went into management. Many of the leads have less than 5 years of industry experience which is almost unheard of for management at financial firms. The leads, while are great if they get on the phones, are not effective managers. Most of them don't even get a chance to manage and are just spouting off what they are told to and have no say in the direction of the firm.

    Advice to Management

    LISTEN TO YOUR ADVISORS! We are the ones who are on the phones the entire day, who work with the faulty systems, and deal with the horrors of the job. There are a lot of ways that this firm can be a top-tier advisory platform, but the direction you are currently going in is not going to help you get there. It's hard enough to convince clients to disclose their financial information to a supposed advisor that they've never spoken to before without having to also worry about making sure that the call-center metrics are also being hit on top of the sales and service issues. Listen to your advisors.

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (3)

    Growing company with good people

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

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

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Good comensation once you reach Premier level as an FSA. GREAT learning experience. You can make a lot of money if you are good at bringing in new money, and production.

    Cons

    No value placed on experience or FA development. Mangers r not very intelligent and DEFINITELY devoid of leadership especially in Hopewell office. All they care about is numbers.

    Advice to Management

    Take a good look at the Hopewell management team.They are incompetent, occasionally unethical, short sighted buffoons. You are in a position to take this business to the top but you HAVE to do something about this management team. No way is Levine's dream of taking this company to 200 billion will succeed under this leadership team.

  6. Big firm with tons of resources and locations.

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

    I have been working at Merrill Edge

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Not so much pressure to sell but there is some

    Cons

    Too much banking functions like a personal banker which takes away from the brokerage functions

    Advice to Management

    It may seem more efficient to have FSA do everything, but too many tasks and activities may cause average or less than average production in each category, instead of stellar production in a few functions.

  7. Good Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Specialist in Lincoln, RI
    Former Employee - Investment Specialist in Lincoln, RI

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    The people here were great.

    Cons

    Could pay more but that's what everyone says.

    Advice to Management

    Make the website better

  8. Helpful (3)

    Not for everyone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Fsa in Trenton, NJ
    Former Employee - Senior Fsa in Trenton, NJ

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

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

    Pros

    pretty quick promotions, nice people to work with.

    Cons

    compensation goals greatly increased but not for commensurate reward.

    Advice to Management

    bonus structure too complicated, too many goals to hit, too many land mines in the bonus compensation package , insufficient reporting of goal status due to complexity of all the "asks" regarding service and goals. Too easy to lose significant portions of bonus due uncontrollable client service feedback.

  9. 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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Company pay for your study time and licenses.

    Cons

    Call Center environment may not be suitable for everyone.

    Advice to Management

    Communication

  10. Helpful (2)

    Avoid at all costs....

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

    I have been working at Merrill Edge

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

    Pros

    Honestly there are none worth mentioning

    Cons

    Micromanaging has gotten out of control as the FSAs are getting hounded on a daily basis by their MSMs for totally irrelevant things.
    As several other posts have alluded to, more focus now on pushing banking products rather than investment products which is contrary to what the role really should be.
    FSAs also are expected to do many menial banking tasks.
    It is also true that the vast majority of customers do not want anything to do with investment products unless it carries that magical FDIC coverage.
    Many referrals that are passed along by business partners are a complete waste of time.
    Sales goals are a joke and are completely out of reach for most FSAs.
    The Compliance Dept. at Merrill Edge should be renamed the "Sales Prevention Dept".

    Advice to Management

    Stop the micromanaging and have some more realistic expectations for your FSAs. Morale is extremely low in the banking centers and you will see many FSAs say "Sayonara" unless some changes are made very soon.

  11. Helpful (3)

    Not what I expected

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Field FSA
    Former Employee - Field FSA

    I worked at Merrill Edge full-time

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    1)You get a salary and benefits.
    2)You get a three month ramp up period to build a pipeline.
    3)The training is pretty good.
    4) Very young program where and there is opportunity to move around after a year.

    Cons

    1) Management and compliance is all over you for menial tasks.
    2) You're not a real financial advisor, you're a glorified personal banker
    3) You have to sell certain amount of credit cards to hit your numbers and home loans
    4) Most people that come to the bank barely have two nickels to rub together and completely risk averse. Further, are just cd shoppers.
    5) You have to make cold calls on a record line which makes you completely robotic to a prospective customer and if you fail the call it will affect your compensation.
    6) Branch Managers are with you or against you on any given day.
    7) You will be competing against personal bankers for customer interactions.
    8) Management is really young and most of them shouldn't be managers.

    Advice to Management

    Have a clear goal for both the Branch and the FSA. I find that there was a challenge trying to explain to the personal bankers how our goals are aligned with theirs. Realign the goals based on the banking center itself. In low traffic areas, it's very difficult to hit your numbers even if you are the best salesman. Stop forcing FSA to sell credit cards and mortgages.

Work at Merrill Edge? Share Your Experiences

Merrill Edge

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.