A Merrill Lynch trainee shares what it's really like to be part of the firm's revamped, more RIA-like training program

I enjoyed reading about the going-on at ML regarding their updated FA training program. Sounds like they have taken major strides towards creating a more comprehensive program. (My first job was at ML, where I was a clerk and received a humungous amount of training for my job)

“It wasn’t a good fit for him and he wasn’t willing to put in the effort to be successful.”
That’s so true in life. Instant gratification, of course, doesn’t provide long term success. Business doesn’t just fall into people’s lives — even though it sometimes looks like it to people who only are seeing the success. That success was nurtured and envisioned for a long time.

Even in my business, coaching, I’ve had to “fire” of clients who don’t or won’t consistently “do the work” they agreed to do. They turn themselves into type “d” clients. They won’t deal with the uncomfortably that comes with taking, even educated risks and making changes, even minor ones — but that are necessary to take success happen.

People mean well, but for whatever reasons, they aren’t always ready to be more successful when their brain wants to go in that direction but their heart isn’t ready. Over the years, it’s been interesting to see first hand that people are more afraid of success than failure.

We are stubborn sometimes :) aren’t we.

Why is that.people are afraid of success and how does it come out in the advisor world? What are the signs? I believe you. Just want to get it better, Can the fear of success be trained away?

A good column perhaps?

It’s a human condition.

I never thought about “training away”, but I’ll consider it. Supporting others can help them walk through the risk. It can be discussed and looked at more clearly. Just today I asked an FA what he wanted his business to look like 5 years from now. He thought that was a good question and he’s going to get back to me. Considering the question is a big start to someone who hasn’t looked at it.

Many grew up that success was a lot of hard work and that successful people were arrogant. OR that success was out of our reaches “because”. OR that what we wanted wasn’t possible.

Failure is something people learn to deal with, then they get up, and move on.

Success looks different to each of us. Many people haven’t had enough success to build a success backbone (needed of course as we take risks towards being successful).

Of course, I ask a lot of people what success – personal and professional success – looks like to them. One of my former non-FA clients called me recently to tell me “she got it”. She wants “x” and in order to get “x” she has to take some risk. After 5 years, she’s ready.

I remember the time when a prospect mentioned that they wanted to have once branch office and as I dug deeper, what immerged were 5 branch offices, a book, etc. She told me that she was afraid that saying what she did would cause her to nog attain it. Others have told me that they say nothing because then if it doesn’t happen, they won’t fail. Of if they say it out loud, that they’re being arrogant. Imposter syndrome abounds, too. That fear that people will 'find out’ that we’re not deserving. not wanting to feel out of control. The reasons are boundless.

Lack of support has deterred many from taking risks that lead to more success.

It’s so comfortable doing what we’re doing, isn’t it :) And people should be comfortable. But at times we have to purposefully be uncomfortable as we reach for another brass ring.

Alas, even the brass ring is gone from the former Coney Island amusement park carousel. Used to be that as you enjoyed your ride, if you were big enough, you could stretch to get the brass rings and then throw them in the mouth of the clown to win a very small prize.

Success, once reached, usually means stretching again.

And as your trainee mentioned “ he wasn’t willing to put in the effort to be successful.”

This rings true to me, Maria:

at times we have to purposefully be uncomfortable

It seems to reconcile our need to better ourselves but recognize a baseline of sustainability.

It’s like taking “guestimates”. It’s a risk … but a more educated or informed one :

Merry Christmas.

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