Bank of America Private Wealth Management Reviews | Glassdoor

Bank of America Private Wealth Management Reviews

3 reviews

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Private Wealth Management

2.7
StarStarStarStarStar
Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3 Ratings

Employee Reviews

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Pros
Cons
  • "Hard to maintain a good work life balance" (in 532 reviews)

  • "Don't get a lot of support from upper management" (in 461 reviews)

More Pros and Cons

  1. "Great Internship Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Private Wealth Management Intern in Los Angeles, CA
    Current Employee - Private Wealth Management Intern in Los Angeles, CA
    Recommends
    Approves of CEO

    Pros

    Good way to understand the PWM industry

    Cons

    Not a lot of analytical finance work


  2. Helpful (1)

    "Merrill Lynch Banking Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President/Senior Private Wealth Management
    Former Employee - Vice President/Senior Private Wealth Management
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America (More than 5 years)

    Pros

    Work with high net worth clients providing liquidity solutions to clients.

    Cons

    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.

  3. "Learning Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Private Wealth Management Intern
    Current Employee - Private Wealth Management Intern
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    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.

    Cons

    The work was more administrative than expected. THis is heavily because of the necessary certifications needed to perform more active duties in this field.