Bank of America Financial Solutions Advisor Reviews | Glassdoor

Bank of America Financial Solutions Advisor Reviews

Updated May 23, 2018
155 reviews

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Financial Solutions Advisor

2.7
StarStarStarStarStar
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Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
19 Ratings

Employee Reviews

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Pros
Cons
  • "Bonuses Training Work life balance" (in 493 reviews)

  • "Communication with upper management can be difficult" (in 435 reviews)

More Pros and Cons

  1. "Great Opportunity for advancement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Albany, NY
    Current Employee - Financial Solutions Advisor in Albany, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    As long g as your vocal with your mgr about what you want as far a career advancement you can formulate an action plan

    Cons

    I have worked for many banks big and small. They all have the same goal. It's what you make of your time there.


  2. "Financial Solutions Advisor"

    StarStarStarStarStar
    • 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 Bank of America full-time (More than 5 years)

    Pros

    Good salary and good benefits

    Cons

    Overly micromanaged. Company is too big to see you as an individual

  3. "Financial Solutions Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Chandler, AZ
    Current Employee - Financial Solutions Advisor in Chandler, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than a year)

    Pros

    great work life balance and atmosphere

    Cons

    alot of training before you get to actual job and bonuses

    Advice to Management

    keep up the great work


  4. "Merrill Edge FSA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Las Vegas, NV
    Current Employee - Financial Solutions Advisor in Las Vegas, NV
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Bank of America full-time (More than 5 years)

    Pros

    Good pay and great benefits

    Cons

    Many challenges to performing day to day functions that should be easy ; lots of micromanagement

    Advice to Management

    Listen and focus more on what employees have to say instead of micro managing to spreadsheets


  5. Helpful (1)

    "Plug and play high volume sales mired by compliance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America full-time (More than 3 years)

    Pros

    Good salary, benefits, and challenging evolving work environment.There is a good potential for lateral or upward mobility if you are a consistent performer and there is potential for bonuses on a quarterly basis.

    Cons

    Not for folks with families. There is no work life balance. Very mundane hours. 9-6. You will be one Merrill rep within a Bank of America branch and are seen as an outsider so you have to work really hard to win peoples trust which you have to do as you depend on the bank associates for client referrals which is the main way you will meet your goals. The problem is the bank associates are not properly incentivized to refer to Merrill Edge FSA’s. There are cliques and gossip queens everywhere. Do not upset the wrong people as they will make false things up to management or HR to ruin your reputation and try to get you terminated. Very stern work environment. Expectations to perform are very high. I could not leave the bank for a break without the bank staff getting upset which caused me to stop taking breaks. Overtime is not compensated.

    Advice to Management

    Adapt to evolving work environment of your FSA’s more quickly. Listen to their feedback instead of passing it off as complaints. Treat your FSA’s like executives instead of like problem making pupils. Be mindful of what you say and the tone in which you say it as you want FSA’s to have the same mindfulness with clients and bank staff. Spend the money once and for all to license your bank staff so you can incentivize the bank employees to make investment referrals.


  6. Helpful (2)

    "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Hilton Head Island, SC
    Current Employee - Financial Solutions Advisor in Hilton Head Island, SC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    Benefits, compensation, work life balance

    Cons

    Predominantly virtual training. Training material not updated do to recent technology updgrades

    Advice to Management

    Keep up the good work and keep client interest first.


  7. "Financial advisor without investment decision making"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Washington, DC
    Current Employee - Financial Solutions Advisor in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than a year)

    Pros

    Platform, logistics, research, products. Employee benefits are fantastic and many resources available. Discounts on everything financial and access to Bank of America products

    Cons

    Heavy focus on banking. You’re treated like a banking associate with licenses sometimes. Without an ability to build portfolios and outside sales, you’re beholden to your one area.

    Advice to Management

    Let FSAs do outside sales and focus on investment

  8. Helpful (1)

    "I've worked at worse places"

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

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    Work hard will be able to make solid amount of money
    Upward Mobility is easily shown throughout company
    Hard work is rewarded and recognized

    Cons

    Constantly changing and messing with our comp structure and then we have to spend time challenging for work we already did
    Poor Managers in Most Locations
    Executive Level Management completely blind to impacts on line managers

    Advice to Management

    Stop constantly trying to screw us


  9. Helpful (2)

    "Financial Solutions Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor in Palm Springs, CA
    Former Employee - Financial Solutions Advisor in Palm Springs, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Bank of America full-time (Less than a year)

    Pros

    Excellent array of benefits offered by BofA. That is about it though. Everything was horrible. Cannot think of anything else to say.

    Cons

    Every single thing about the job from day one. The absolute worst training program. More problems with systems and getting set up than any other job I’ve ever had. Never seen so many colleagues take stress leave and hate their jobs. Worst most complicated systems to use with clients. Most time consuming methods to assist clients. Heavy pressure to sell products to client they probably don’t need. I can go on and on. Avoid this place at all costs. Worst position I have ever had. Started looking for another job after my first week there. Took me a few months but quitting was the best part of my experience at BofA/Merrill Lynch.
    PS They actually lied to me telling me I’d get paid for my 4th quarter bonuses and that never happened. Also screwed and my family out of two weeks of benefits.


  10. Helpful (7)

    "Not a real "FA" job. May be good for personal bankers."

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

    I have been working at Bank of America full-time (More than a year)

    Pros

    You can get licensed here and go elsewhere. They will pay you to study!

    Cons

    If you think this role is about being a financial advisor look somewhere else. I would use this firm to get licensed and leave. The role of FSA is a glorified banker role which entails opening credit cards and savings account (this is where most fsa's get their new money)

    All the company cares about is referring to other lines of business. They stress stuff that will make the company money and you won't see a dime from it.

    Advice to Management

    Stop forcing a set number of referrals it makes people send bad referrals and wastes time.