Merrill Edge Reviews

Updated August 31, 2015
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2.9
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David Darnell
49 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

128 Employee Reviews

Sort: Popular Rating Date
  1. Great Place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Investment Specialist in Lincoln, RI
    Current Employee - Senior Investment Specialist in Lincoln, RI
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great pay, flexibility with work schedule, terrific benefits.

    Cons

    Check back in two years

    Advice to Management

    Keep pay competitive


  2. Great Company, Too Bad it's a sales position

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor Core I in Chandler, AZ
    Former Employee - Financial Solutions Advisor Core I in Chandler, AZ
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Great Atmosphere, fun people, great benefits

    Cons

    it's a sales position.


  3. Helpful (1)

    Great place for people to get their foot in the door, or stay for the long haul.

    Former Employee - New Accounts Opening Senior Representative in Jacksonville, FL
    Former Employee - New Accounts Opening Senior Representative in Jacksonville, FL

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

    Pros

    Great benefits, good community atmosphere, large potential for career growth and upward mobility for self-starters.

    Cons

    It's a large corporation so you'll run into things you find with every big business: extremely slow and lengthy process to change any process, cubicle type atmosphere, call center.


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  5. Investment consultant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    Pros

    Pay is much higher than similar companies .

    Cons

    Bight corporation you mean nothing management is horrible and your job changes daily.

    Advice to Management

    Stop being so cheap and build a robust trading platform. Also have sone consistency.


  6. Helpful (3)

    A glorified banker!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Merrill Edge full-time (More than 3 years)

    Pros

    good entry in investment sales

    Cons

    Very high attrition rate due to mismanagement. Promotion of people with little to no experience in supervisory positions.

    Advice to Management

    Get better managers


  7. Helpful (2)

    Good place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service
    Former Employee - Customer Service
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Above average pay, good benefits.

    Cons

    Some management, not most, show favoritism to employees who are newer and less experienced.


  8. Helpful (1)

    Financial solutions advisors

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor in Jacksonville, FL
    Former Employee - Financial Solutions Advisor in Jacksonville, FL
    Doesn't Recommend
    Approves of CEO

    Pros

    Base pay is around 40 - 60k and bonuses can exceed 20k per quarter within 2 years. Bank of America refers clients so there are plenty of sales leads.

    Cons

    Highly political atmosphere. Only individuals that can't find a better job stay with the company long term. Management provides no direction or leadership and has difficulty retaining good employees. New training classes are needed monthly.

    Advice to Management

    Spend more time training existing advisors and focus on high attrition rate.


  9. Helpful (1)

    Great Entry Level Role

    Former Employee - Investment Specialist Trainee in Jacksonville, FL
    Former Employee - Investment Specialist Trainee in Jacksonville, FL

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

    Pros

    Great Training 4 weeks Coworkers willing to help 401k 5% match after a year

    Cons

    tools to find info could be simpler. Forever changing metrics to get bonus every quarter. Large number of incompetent management staff. Many average reps have more experience than managers. Very political for advancement.

    Advice to Management

    Promote based on competence not buddysystem.


  10. Helpful (1)

    Good place to start

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

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

    Pros

    I've been working at EDGE for a little under a year, and it has been a pretty good experience. With absolutely no industry experience or educational background, EDGE has taught me a lot. You have the opportunity for paid study-time for licensing which is awesome. Also, you immediately start talking to clients about their portfolios, investment strategies, and goals right after training as opposed to making cold calls and hoping to get someone on the phone. If you embrace your role as a financial advisor and take the time to learn more about economics, capital markets, and investment strategies, you'll quickly realize some of the cons at EDGE.

    Cons

    Call center. No matter how you want to give yourself a fancy label or corporate title, you are a call center representative. Because of the set-up of the platform, advisors are expected to be transactional; miss just one day of goals and God help you with the rest of your month and forget even trying to go on vacation. You'll lose out on the financial planning aspect of the job as well as you don't have a book of business that you're responsible.for and can't talk to clients about annuities or insurance which is a vital part of any financial plan. The 'adviors' that do the best are the ones that are good phone salesmen. It's hard to take the role seriously when you see some people get promoted but can't explain what's happening in the markets to their clients.

    Advice to Management

    Stop contradicting yourselves by saying that the client needs to come first but then making it nearly impossible for advancement unless the FSA puts themselves first by doing whatever it takes to close the deal and make the sale. I've seen FSAs that are always doing right by the client and going that extra step for the client only to have the situation blow up in their face. These FSAs ultimately resign themselves to the fact that in order to get ahead, they have to put themselves first. You are losing a lot of good, quality FSAs to your twisted logic and metrics.


  11. Helpful (1)

    Good place to get vast experience

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Field FSA
    Current Employee - Field FSA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Bank of America is virtually everywhere and 1 of every 2 households in the US as some sort of client . You can easily make 6 figures and it all depends on your partnerships , being self motivated and your ability to present yourself as a, leader in your Financial Center . If you see other reviews as being "a glorified banker" That's probably the reason why some FSA didn't last, didn't do well. You are not a glorified banker and you don't fight over business with bankers . There is Plenty of business to go around , coming from other firms where you need to make cold calls or canvassing , this is a piece of cake

    Cons

    Systems do suck, change happens all the time, sometimes you don't know who your manager is. You must be comfortable working with "what you have " and make a lot of friends to ask questions because this job isn't "explained" in training. There is so much you will need to learn that I even feel bad for the new guys . The turnover is high. You need to be used to working in retail banking. If you came from a firm with an assistant or with fancy elevators and you are used to that ... run , this job is a retail banking job , you will encounter children crying in the lobby. Homeless people pooping on banker chairs, and some sort of things that not even in your wildest dreams you've imaged

    Advice to Management

    Remodel your Financial Center , they look outdated . Chase and Wells Fargo Branches look so much nicer . Give more supoort to your FSAs , they have feel as "island" sometimes Great job on the compensation plan ! The overall strategy is great , Wells Fargo , Chase and other big banks got nothing on us, we are leveraging all our business lines and giving the customer a great consolidated experience under one roof



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