Merrill Edge Reviews | Glassdoor

Merrill Edge Reviews

Updated February 16, 2017
277 reviews

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Full-time Part-time

3.1
Star Star Star Star Star
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David Darnell
94 Ratings

277 Employee Reviews

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Pros
  • Good benefits all around and will match 401K at a year up to 5% (in 29 reviews)

  • Good base salary, solid platform, referrals given to you (in 19 reviews)

Cons
  • Call center can feel like a grind at times but overall a great place to work (in 31 reviews)

  • You do not own your book of business (in 10 reviews)

More Pros and Cons

  1. "Drive business off bank traffic and partner referrals"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Philadelphia, PA
    Current Employee - Financial Solutions Advisor in Philadelphia, PA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Base salary is somewhat generous compared to similar roles at other companies. The position is set up to feed referrals to you as the FSA.

    Cons

    You have to deal with bank customers, work some Saturdays, bank compliance is extremely strict, you handle all of your own admin work

    Advice to Management

    Find a way for the FSA role to transition into a Merrill Lynch FA


  2. "Enterprise Relationship Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Enterprise Relationship Consultant in Chandler, AZ
    Current Employee - Enterprise Relationship Consultant in Chandler, AZ
    Recommends
    Negative Outlook
    No opinion of CEO

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

    Pros

    Fantastic culture with managers who are very approachable

    Cons

    Great training comes to a halt once you have your series 66 and 7 licensing. How can you learn on your own and grow, if you dont know what you are looking for.

    Advice to Management

    Use team meetings to guide growth, development and learning. This time shoukd not be reserved to coach "sales skills" only. Great advisors need to truly understand the platforms they work with, the industry trends and detailsof the products.


  3. Helpful (4)

    "Bank of America / Merrill Edge"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Decent base pay for a sales position. Nothing else positive to say.

    Cons

    Very high turnover. Also, you have the same numbers to hit regardless of your offices location. This was something managment said didn't make a difference but it obviously did. If they place you in a low income area, good luck.

    Advice to Management

    You need to coach newer employees and help make them successful. I don't know if they hired the wrong people but my manager was MIA. I spoke to him only a handful of times while I worked there.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. "Great Company"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Edge full-time

    Pros

    Good base pay, great bonuses. Great investment platforms

    Cons

    Can be limited to demographic of your area


  6. "Good place to learn"

    Star Star Star Star Star
    • 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
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Good way to gain an understanding for the financial services industry. Able to learn basics of portfolio construction and investment conversations. The company pays for you to get licensed (series 7/series 66)

    Cons

    High stress, sales oriented environment. Phone calls are graded and reviewed for compensation purposes. Phone based and a transactional based business model not focused on relationship building

    Advice to Management

    Make goals more attainable/realistic given clientele


  7. Helpful (2)

    "FSA, later corp FSA"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President FSA in Washington, DC
    Former Employee - Vice President FSA in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Experience is what everyone should enter this job looking to get experience and get out. In the investment world, attainable low goals are critical to learning the craft.

    Cons

    An incoherent future and two organizations that have little in common and seem to have irreconcilable differences. Merrill Lynch should be a feeder but instead edge is the destination for failed PMDs.

    Advice to Management

    See above and think about a landscape where more has to be done with less. One of the fist 100 FSAs, I was able to cover as many locations as I could. 3 years later one to one paring has made the bank job nearly worthless from an experience and personal development side.


  8. Helpful (2)

    "Merrill Edge"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Advisor in San Antonio, TX
    Former Employee - Financial Services Advisor in San Antonio, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Has great benefits and a very competitive base salary + bonuses

    Cons

    No direction, no communication, bankers should be licensed

    Advice to Management

    More communication between upper management. Communication between bank and Merrill.


  9. "Call center"

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

    I have been working at Merrill Edge full-time

    Pros

    Good place to start career
    Benefits great
    Pay you to study for tests
    Investment center pays well

    Cons

    Micromanage
    Call center
    Company systems are terrible
    Upper management in MEAC needs help

    Advice to Management

    Invest in your own employees for better retention instead of having to constantly train new people


  10. "Investment Specialist 1"

    Star Star Star Star Star
    • 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 a year)

    Pros

    Good pay and great benefits.

    Cons

    Not much transparency from management, not much flexibility.


  11. Helpful (2)

    "Good for an entry level job."

    Star Star Star Star Star
    Current Employee - Financial Solutions Advisor
    Current Employee - Financial Solutions Advisor

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

    Pros

    The job teaches you the basics of financial advising. It gives you the experience for the next job. Benefits are good.

    Cons

    You are a call center advisor. The company pays too much for the upper level "Premier" advisor and very low (incomparable to say the least) for the rest of the advisors. The turnover is so high. We are offering the financial "roadmap" that clients don't need. If you don't do the "roadmap" (which again, clients don't need) your call will be graded lower (which impacted your "commission" <---- Which is nothing to begin with, if you are not a premier advisor). The "roadmap" will be advertised as client's way to achieve their financial goals. Clients with high net-worth don't need you to teach them how to achieve their goals. They want returns on their investments.
    Their actively managed portfolio is also very bad. It feels so wrong to sell it to the clients. It return is incomparable to even the american balanced fund...
    Low base salary and commission (not premier) - for example. if a premier advisor brings in $1M new money, the commission is roughly $7000 - $10,000 for the quarter. but if core advisors bring in the same $1M new money, the commission is $3000 tops. They are doing the Same job, the same conversation, the same dollars, not pesos, the same exact thing. Come on guys....

    Advice to Management

    Manage your managers! They aren't there to just talk to each other. They are often nowhere to be found, do you even notice this? Go to the floor and inspect your managers!



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