, has continued adding new trainees to its program during the second quarter in large part based on offers extended during the first quarter, according to the company's senior executive. $2.2 trillion wealth manager Merrill Lynch is pausing new hires for a 3,000-plus person financial adviser training program that's its main talent pipeline
Merrill Lynch stopped reporting the total number of full-service financial advisers in its ranks, which has fallen in recent years as, along with its competitors, advisers have exited or retired and it's focused on training talent internally. Business Insider first reported in April that some 650 people were temporarily taken out of adviser training and directed to remotely assist customers with the federalintended to help protect small businesses and their employees during the crisis.
The wealth manager reported a rise of less than 1% to some $2.4 trillion in client assets since the same time last year.
And you thought banks were having a tough time...
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