RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Merrill Lynch makes bold moves to train new recruits for an RIA-centric future

The rethought training program suits up new advisors -- many of them career changers -- for independence as well as for the wirehouse path

Wednesday, November 21, 2012 – 4:35 PM by Lisa Shidler
Admin:
no description available
Dwight Mathis: By the time they graduate after 43 months it'll put clear blue sky between us and our competition.

Related Moves

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 – 1:35 AM

Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'

Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.

September 1, 2022 – 5:11 AM

Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 – 1:12 AM


Mentioned in this article:

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

Diamond Consultants
Recruiter
Top Executive: Mindy Diamond

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks




Scott T

Scott T

November 25, 2012 — 6:42 PM

This entire article is a barefaced lie. The training program at Merrill Lynch is an ill conceived, poorly managed farce. The entire program is designed to make recuits fail NOT succeed. They give the recruits ridiculous goals to meet with absoulutely no support. They worst part is that the “traininers” are people who were never successful in the business to begin with. Couple that with the fact that the ultimate decision on who stays and who gets fired lies with the branch managers who really have no desire or ability to train people themselves. The whole thing is a recipe for failure.

Lisa Shidler

Lisa Shidler

November 26, 2012 — 4:52 PM

Hey Scott T., sounds like you’ve got the real inside scoop on this program. Feel free to e-mail me and give me some more insight. Did you go through the program yourself? Or know someone who did? We’d love to get more details about it. My e-mail is: lisa@riabiz.com
Thanks! Lisa Shidler

Abe

Abe

September 12, 2013 — 12:26 AM

Scott, I would love to hear more about your experiences at Merrill. I am in the middle of the interview process and would like to hear more first hand experiences. Please tell me more mwa207@gmail.com.
Thanks,
Abe

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo