Merrill Lynch Financial Advisor Reviews | Glassdoor

Merrill Lynch Financial Advisor Reviews

Updated June 26, 2017
348 reviews

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Financial Advisor

3.2
StarStarStarStarStar
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Approve of CEO
Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
122 Ratings

Employee Reviews

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Pros
  • They promote and encourage work life balance (in 94 reviews)

  • Friendly colleagues; Dynamic environment; Was offered rotational program so I learned a lot of stuffs (in 70 reviews)

Cons
More Pros and Cons

  1. "Great place to work"

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

    I have been working at Merrill Lynch full-time (More than 3 years)

    Pros

    Management wants you to succeed and will help in any way they can. Platform is top notch and really gives you the ability to service your clients better than many other places. The firm is on the forefront of the fiduciary rule.

    Cons

    Prospecting is difficult, not only at ML, but in an Advisory role.


  2. "Great Company, Poor Structure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Hartford, CT
    Former Employee - Financial Advisor in Hartford, CT
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Well established company in the financial industry with amazing tools

    Cons

    Very little to no support if you dont come into the job with existing clients or join a team

    Advice to Management

    Dont settle for >90% attrition rate for new FA's. You pay them to take all their series 7 and 66 exams and then offer no support beyond that.

  3. Helpful (1)

    "Used to be better before BofA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Financial Advisor in White Plains, NY
    Former Employee - Team Financial Advisor in White Plains, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Benefits are ok. Reputable name and can land yourself with a good team (if you are lucky). Unlimited earning potential if you can build a book

    Cons

    Terrible PMD and training program. Arguably one of the worst. Failure rate is high but that is to be expected

    Advice to Management

    Retain top talent


  4. Helpful (1)

    "Great opportunity"

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

    I have been working at Merrill Lynch full-time (More than 10 years)

    Pros

    You can truly help clients, work flexible hours, earn lots of money with an industry leader. There is good growth potential for this industry.

    Cons

    The company used to be the thundering herd and now there are many more government and industry rules and regulations.

    Advice to Management

    Let the self motivated people run.


  5. "Great opportunity if you can cut it."

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

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

    Pros

    Huge company, many different opportunities within the company. Terrific benefits, take advantage of them, especially the 401k plan.

    Cons

    If you are training to be in a sales position, just know that at the end of the day sales will be up to you, not your partner, not your manager, or your boss.

    Advice to Management

    Have a track for people to transition into sales over a longer period of time, rather than immediately fire people who are not meeting sales goals. Give them an opportunity to become something else within the bank rather than throwing them out.


  6. "Big cats get fatter"

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

    Pros

    Great training, gives you a base when you start. The work they expect takes your life away. They help you with market conditions and portfolios

    Cons

    They don't care of you unless your a million dollar producer. Once out of the program you make very little money.

    Advice to Management

    We all start at 0. It takes time to grow.


  7. "Financial advisors"

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

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

    Pros

    Great benefits, good people to work with. Very easy to use system. Ability to work in a team capacity if available.

    Cons

    Unachievable goals and no training or support. Commission only for advisors with a very low grid pay out.

  8. "Depends what you're looking for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Providence, RI
    Former Employee - Financial Advisor in Providence, RI
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Merrill Lynch (More than 3 years)

    Pros

    Learn a lot, nice offices

    Cons

    Big company, lot's of A type personalities.


  9. Helpful (2)

    "Cutthroat"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - PMD Financial Advisor in Torrance, CA
    Former Employee - PMD Financial Advisor in Torrance, CA
    Negative Outlook
    Disapproves of CEO

    Pros

    Brand name and brand recall. Everyone knows who Merrill lynch is, however, the business can be competitive. Better be prepared to bring in accounts, otherwise don't do it.

    Cons

    Hardest 55k you will ever earn. The program is meant for rich kids with rich families and extensive network. Regular folks like us don't stand a chance.

    Advice to Management

    None


  10. "work environment depends on office"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Chicago, IL
    Current Employee - Financial Advisor in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Merrill Lynch full-time (More than 10 years)

    Pros

    Flexible hours (depends on office/team)
    Great pay

    Cons

    still dominantly male environment.
    AUM hurdles unrealistic for new PMDs or TFAs