Merrill Edge Reviews

Updated June 28, 2015
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3.0
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David Darnell
38 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

104 Employee Reviews

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  1. Helpful (1)

    Merrill Edge FSA

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

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

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

    Pros

    Good salary/decent commission payout, good benefits, 401k match 5%

    Cons

    Micro management, constant performance focused sales meetings (phone, in-person, etc.) Commissions are upfront, performance-based, paid quarterly. Clients aren't yours, shared with all other Merrill Edge FSA's. Prospects with over $250,000 to be referred to Merrill Lynch. No assistant. Also have to do sales as a Bank of America Banker (checking, credit cards). Mandatory outbound calls made weekly recorded and graded by compliance. Quarterly payouts can be reduced by as much as 30% for compliance penalties.

    Advice to Management

    Less meetings, more time to focus on sales.


  2. Helpful (2)

    Financial Solutions Advisor

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

    I worked at Merrill Edge full-time

    Pros

    Great place to learn the basics. Base salary. Benefits are decent.

    Cons

    Success depends on your market and bank you cover. Too much cross functional requirements. Clients don't respect brand. Uphill battle.


  3. Helpful (1)

    Great company overall

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    - Great entry level pay
    - Other FSAs/mgmt. great to work with, everyone is very helpful
    - opportunities are endless- BOA, MLWM, US TRUST, EDGE
    - fair pay structure; if you do your homework, detail-oriented, and love investments you'll do over 100k at Senior level
    - 401k match, health insurance

    Cons

    - questionable client satisfaction surveys
    - things/mysteries out of your hands can bring down bonus from production/quality
    - faulty system, lazy back office

    Advice to Management

    Ease up on schedules- we work around appointments and do the time anyway; if queue is backed up have unlicensed schedule call backs.


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  5. Great Place to start your career

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Good pay and benefits.

    Cons

    Sedentary. Desk job. Difficult licensing tests

    Advice to Management

    Promote more interaction between newcomers and experience advisors


  6. Helpful (2)

    Overall Good But Needs Some Strategic Changes

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

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

    Positive Outlook
    Positive Outlook

    Pros

    Overall good Regional Sales Management team in southern California. Team environment and matching FSA with Merrill Lynch Global Wealth Management is a good strategy. Most of the management team and Market Sales Managers are helpful. Compliance is patient and very responsive.

    Cons

    Dual role of banker and financial advisor. Merrill Edge platform is very limited; the performance could be better with more diversification such as sector based products instead of just size and style. Financial Center Managers could use more training, as they tend to be inexperienced in management and banking.

    Advice to Management

    Regional Sales Managers need to get out in the field more often to understand employees career goals. Ask field Financial Solutions Advisor about their opinions on strategy/change.
    Discontinue the dual role of Preferred banker and financial advisor--- it is way too confusing to the customer and diminishes the financial advisor role. It also adds dual compliance to the role. JP Morgan Chase is number one in assets for a good reason; follow their lead. Diversify the managed Merrill Edge product line with more ETFs for better performance and diversification. Align FSA to the right Financial Center by considering the demographic; their background; cultural barriers and languages spoken. Pay FSA on trails, as this will incentivize them to continue to build relationships with existing clients.


  7. Investment Specialist

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

    I have been working at Merrill Edge

    Pros

    Great environment, fast paced but reasonable.

    Cons

    Limited advancement into upper management.


  8. Helpful (1)

    Core 1 Financial Solutions Advisor

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I've been working at Edge for a couple of months now and while reading some of these negative reviews, I can't help but think that those are the individuals that think their job is that of a "call center".

    We deal with individuals that, for the most part, do not know much about the markets and educate them on how to save for retirement through various channels such as individual trading accounts, types of IRA's/401ks, Education accounts for their kids, etc etc.

    Merrill provides excellent training to those that don't have much experience in the industry and even those that are seasoned, you learn something new. I've been in financial services as a Financial Advisor since 2011 and I believe this is someplace where you can really make an impact on the lives of every day people by teaching them about investing.

    Cons

    Pay could be higher but room for growth is tremendous, especially when you get into levels like Premier and Relationship Foundation where the bonuses are exponential.

    Advice to Management

    Keep doing what you're doing, at least at the Hopewell Site in New Jersey.


  9. Helpful (1)

    Financial Solutions Advisor

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

    I have been working at Merrill Edge

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    good benefits. 401k. Many of the branch workers dedicated.

    Cons

    Management treats employees disrespectfully. CIA level micromanagement. FSA positions more like Personal Bankers. Business stolen by other advisors by putting notes in system. Too much to list. Do not accept employment in this role. Better options out there.

    Advice to Management

    Hire some Marketing Sales Managers with actual "investment" experience, instead of seafood restaurant workers or people with less than 1 year industry experience.


  10. financial solutions advisor

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

    I have been working at Merrill Edge full-time

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    company pays base salary plus bonus

    Cons

    High turnover and inexerienced local management teams


  11. You can do better elsewhere

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

    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

    Get your licenses and leave.

    Cons

    Not a long term career path. Poor management of employees, and low pay in comparison to similar companies within the industry. Management expect too much and always think that you are not meeting the goals which are never clearly defined. Watch your back and be careful who you trust.

    Advice to Management

    Be more considerate and realistic. Treat employees' hard work with respect.



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