Bank of America Chief Executive Brian Moynihan. The bank's Merrill Lynch Wealth Management business has paused advisor trainees' client prospecting activity.Merrill Lynch Wealth Management has maintained its pause on advisor trainees' client prospecting, a halt on outbound communication within an important pipeline for the business.
The pause remains in place while the leadership of Merrill's new advisory division, created last fall around advisors' training and development, maps out their strategy, a spokesperson said.
The Financial Advisor Development Program and ones like it across Wall Street generally have low graduation rates, as many drop out of the intensive, multi-year program"We announced in October a new Advisory division within Merrill, now responsible for advisor training and development.
The business, led by President Andy Sieg, recently shuffled program leadership and made structural changes. The program's former head and a longtime leader at Merrill, Jennifer MacPhee, left the company last summer. The head of Merrill Lynch's training program, the firm's main talent pipeline, is leaving as the business grapples with remote work. Here are the challenges that await her successor.
They have a training program? I recall studying for the 7 & 66 50hrs/wk for 4 mths. Your team has you build lists to cold call & BAC makes you to sell credit cards, mortgages, & give lower clients/leads to Edge raising your book “score”.You're expendable unless your dad produces