Currently a relationship banker at Chase making 70k (45k base + commission) in Miami FL. Currently licensed with series 6 & 63. Been feeling stuck in role and recently got offer from Merril Lynch for the Wealth Management Banking Specialist role with 85k base . My market director gave me a counter offer to stay and make me Private Client Banker at an affluent branch. What is the best choice career wise? I want to grow in wealth management and possibly the advisor route.

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My understanding is that the Wealth Management Banking Specialist role would be the equivalent of a relationship banker who offices at a Merrill branch and gets paid to try to cross-sell banking products to the FA's Merrill clients. I don't think there is going to be a pathway from there to an FA role, even though you would be housed at Merrill. I know one colleague who took this role and found it challenging to get the FA's to trust her enough to work with her to get her leads. FA's can be quite guarded about allowing others in on their client relationships, though to be fair, they've probably experienced their fair share of incompetent employees who aggressively pursue their clients and end up damag6the relationship.

On the plus side, if you can forge good relationships with the FA's you might open up doors, but if being an FA is your goal I think you'd be better off looking for a different role with Merrill. Just my observations. Good luck!

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