Edward Jones advisor with 30 million AUM and roughly 250k gross production. Been there for almost 4 years. Got an offer at Merrill Lynch to take over a 100 million dollar retirement transition plan in 5 years, or to join a 5 person Merrill Lynch team that manages a lot.

Pros to EJ: Have my own office, a year or two away from partnership, great office setting and client satisfaction.

Pros to Merrill: Bump in compensation, additional tools and services w banking, ability to take over assets.

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When you get there, they do not care if you live or die. Mother Merrill culture is that you are a number. Read the fine print on the deal. Is there a claw back if you don’t get to a certain asset level. Also, a non protocol deal makes it hard to achieve back end levels to max out the deal at 250%. 4 years is not a lot of time to solidify relationships for a move. Especially, if you took them over from a prior advisor. If you are a good networker/prospector, maybe. But trust would you be the major issue.

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Whats the comp like at both?

What are the location differences

Two very different firms and two vastly different employee/employer experiences. At Merrill, your gross production is not the only driver of your comp. Banking referrals to BAC count. Otherwise payouts are low. EJ lawyers up if you leave. Non competes there are strong. No guarantee that the team will not pick you off after you bring over some assets. You have to know and trust them. Just a couple of things to think about.

Thank you! Great thoughts. I’m making about 120K at EJ and on the verge of profitability and partnership. At Merrill, I’d get 250% of my trailing 12 months over 5 years plus bonuses and what I bring over.

Hard to know if I should leverage for a bigger book, more tools, and higher compensation in exchange for some shakeup with current clients and EJ non-compete. Location is only 15 minute difference, but I do love my current office at Edward Jones.

I know this an old post, but as an old merrill manager, don’t go. Merrill lynch is imploding. It’s being completely taken over by the bank and all top talent is leaving. And honestly, not trying to be mean but you’ll be laughed at with $30m AUM. You need at least $100m to be taken seriously.

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