Some 3,000 to 3,500 people participate in the financial adviser development program at any time. The business has run the program for many years, and is crucial to maintaining a healthy pipeline of talent.Merrill Lynch Wealth Management is pausing interviews for its financial adviser trainee program, Andy Sieg, the unit's president, told Business Insider on Wednesday.
It's critical for maintaining a healthy pipeline of talent, especially as Merrill and rival wealth managers like Morgan Stanley, Wells Fargo, and UBS have renewed their focuses onin a rapidly aging industry. Merrill has focused in recent years on training newcomers internally rather than hiring experienced, outside advisers.
"We do have offers that were extended previously for individuals who are joining us in the month of April, so we will see people joining the team and joining our training program this month," he added. "But our other new hire activities will be paused." Merrill has implemented other adjustments as Bank of America's wealth operations work fully remotely.
Merrill Lynch doesn’t exist anymore It was eaten by Bank of America in a prearranged marriage in 2008 😂😂
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