FilterPrivate Wealth Management
Good way to understand the PWM industry
Not a lot of analytical finance work
I worked at Bank of America (More than 5 years)
Work with high net worth clients providing liquidity solutions to clients.
No growth opportunity what so ever. Banking advisors get yelled at by the mighty Merrill Advisor who are always correct and will always be protected its always the bankers fault. Terrible lending process through PHH now moving to Bank of America's platform which isn't much better. Get yelled at by clients regarding the process where you are just the middle man and most of the time in the dark. Merrill branch management has no respect for the bank or the banking advisors as they don't feel there is any value provided. Now banking advisors are going to become fully commissioned mortgage loan officers completely slapping in the face all the dedicated employees who worked so hard to make the division work. No wonder the stock price is $13 per share compared to its peers. Incompetent, unqualified management.
Advice to Management
Senior management as no clue what so ever about what happens in the field. Bank of America has completely lost its culture and should be called Merrill Lynch now. Bank of America once wanted to be one the most admired companies, now they could care less about employees unless they are Merrill Advisors with a book.
Was able to get good access to senior advisers for future career advice. Having the Name "Merrill Lynch" on your resume also greatly increases ones marketability.
The work was more administrative than expected. THis is heavily because of the necessary certifications needed to perform more active duties in this field.
This will replace the current featured review for targeted profile. Are you sure you want to replace it?
Are you sure you want to remove this review from being featured for targeted profile?