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.

like
Posting as :
works at
You are currently posting as works at

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.

like

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.

Related Posts

Sharks, is there any project release policy for Cognizant ? Kindly let me know from where i can get the policy ? I want to switch the project . Reason - No scope of learn new technology in the new project . Tata Consultancy Accenture India Wipro wipro IBM

like

How much would the expected salary be for a Senior 3 in NY TAS be at EY?

like
likehelpful

Hey there i got an offer from UNESCO paris as an financial budget monitor intern( in admin department) , while knowing that i like the life in Sweden better than in Paris as an outsider. (i don't speak French) can anyone tell me if it is a good opportunity? Or is it better to stay in Sweden and do ny current intern to be a consultant?

Can anyone provide salary details for an Accounting Advisory Manager at KPMG in a tier 2 city? 5 YOE

like

Recently got an offer from KPMG. But the offer letter is in their portal with no KPMG letterhead or signatures. Next thing is there is no joining details like reporting office or whom should I report to on joining date. I have tried to contact HR via mail/ call. No response. What to do? Has anyone joined KPMG recently? How do they communicate the joining details? Please tell me

like
like

How is it working in Beckman Coulter like?

What is the hierarchy in PWC India Advisory? What is the YOE needed for Senior Associate?

like

Whats the variable pay range in Gartner?
And whats salary range for Analytics Manager (india)?
8 yoe

like

Are there good indexes and websites that you’ve used to gauge the COL of different cities and standardize salaries?

Weird question for those that have experienced combat and work in consulting

What's more taxing, a combat deployment or a stressful project?

like

FTI Senior Director base + bonus in NYC?

like

Hi Fishes,

What should be the asking CTC for below profile at Capgemini?
9 years - IoT

like

How is CBA Bangalore in terms of Work Culture and Work Life Balance ? Is company expecting to work from office?

like

I have joined Deloitte India Am I Eligible for the Deloitte Wellbeing Subsidy program How can I check eligibility ?
Please Suggest

like

How are the client interviews after joining. Can we choose the tech stack or does the hiring manager assign the project. How is the work culture.For senior software engineer A3 and dotnet position. Are team members supportive.Need to decide if should try anywhere else too..Appreciate if anyone could respond

like

Does Gartner Gurgaon provide free employee to and fro office transportation?

likesmart
like

What are the wages like in Singapore for consultants and techies? I can parse this on Glassdoor/Payscale/Monster, but it’s not clear how country of origin affects pay, if at all.

like

More Posts

C&F question: any attorneys here with a DUI conviction on your record? If so, did you have any issues clearing Character & Fitness in a new jurisdiction?

DUI occurred nearly two years ago as a senior associate in state X with no corresponding discipline in state X; however, now trying to get admitted into state Y...

Obviously, this is an extremely regrettable event, and will make that clear to C&F, along with post-DUI progress.

Curious if anyone else here went through something similar.

like

What is your view on low power audio verification team in Qualcomm (lpass). Is it a good team to join? Does it provide good growth opportunities?
Qualcomm

Is anyone currently pursuing the CIA certification or recently passed? I am having trouble passing part 2. Any advice is welcomed. I passed part 1 over a year ago and haven’t been able to accomplish the next hurdle.

like

I am curious how other inclusion teachers are being utilized when the school is doing remote learning. I find that I am sitting in the zoom class and have very little opportunity to contribute. I am having discussions with my teachers on ways that I can better support them and the students when remote.

like

Anyone have any insight into the Dallas office of Holland & Knight? Thoughts, feelings, concerns?

like

Comp estimates for Chief of Staff at Series C startup with ~500M in funding. CoS per description is more executive level in design (versus admin assist) requiring 10 YOE.

What to expect in salary and equity comp?

like

How are the areas around white rock lake to buy an investment property? Any suggestions appreciated!

like

I have submitted the joining forms embark portal in Wipro. Can I mail them let know if i am not joining? Or else is it mandatory to join? Wipro

like

How long we need to stay on the joining date at Wipro? Can i leave after 2 PM on joining day? What n all action will be required from our end? Can every action will be done by phone, if I am joining from phone?

like
like

Hi Fishes,

I'm working in Wipro last year on 25/11/2021.. i have joined Wipro as fresher TRB band but still i didn't received any hike and band progression till now... I have not joined through campus placement... Please guide me when I'll be eligible for hike ...

like

Calling on my fishbowl community to help me pass FAR. Just purchased Becker Pro. Have taken it twice before about a year ago and best score was a 70. Best strategy? Thank you in advance!

like

I've gotten feedback that I'm too honest in my interviews, is that really a con for future employers? 🫤 How do I refrain from doing that anymore?

like

I’d like to get off this island now.

Post Photo
like

Any CDD / M&A Strategy fish willing to chat?

like
like

What are the mortgage rates you guys are getting? Best I’ve heard is 2.5% (30year fixed) curious if anyone has heard better?

like

I am a ft interior designer, full time mom that also does part time photography on the side. I currently make 90K as a designer and bring in around 20K as a photographer/yr. My design job allows for me to work 100% remotely which helps with daycare pick up and drop off. I feel like I am not making as much as I should as an interior designer PM, and I have spoken to my higher ups about a pay raise with no luck since the pandemic hit the coliving residential market hard. *Continued below*

like

Cause of death - Waiting for the response from HR

Post Photo
funnylike

Alston & Bird LLP Does anyone have any insight into associate pay, bonuses, min billable hours, and general work/life balance at Alston & Bird LLP? (DC Office)

like

Additional Posts in Finance Exit Opportunities

I am a financial analyst and been in finance 6 years. I want a change in career to move to SAP analyst roles, potentially doing SAP certifications as I like problem solving, solutions etc. I am not sure where to start and how to make the change. Any suggestions welcome.

How many of you would consider starting your own business as an exit opportunity? Has anyone in here done so?

likehelpful

Currently a MS finance student. Recently secured a year long internship with the Federal Reserve researching commercial banking conditions. The role is tech heavy (python, R, Sql etc ) What kind of roles can I look into in the event there’s isn’t a return offer? Thanks

like

Does anyone know about Sales Strategy and Operations roles and how the career path looks? Ultimately looking to break into venture. Currently in TMT IB and have zero interest in PE

like

Dilemma… I left my old company 4 months ago. Today, they’ve reached out to me to ask me to come back at a higher role, Operations Manager. I would’ve jumped on this opportunity if they asked me before. However, this role would be hybrid (2x in office) and come along with more responsibilities and hours than my current WFH role which is very chill. The pay is only 15% more than I currently make. Any thoughts?

like

Considering going into Finance Technology roles within big4. I have have >3 years background from deloitte doing Tax Technology. Can anyone speak to these finance technology role &/or give referral?
PS left deloitte about a year ago and have done finance related work for <1 year

like

I want to take this moment to wish everyone a happy new year. Still on holiday vacation.

like

What is the FIT team at Kroll? Can someone shed some light

What are the best and highest paying exit opportunities for someone who worked in deals advisory at PwC for 3 years and is also a chartered accountant (this is the person’s first job, so no prior experience before this)

Any recommendations for a second year post MBA investment banking associate looking to leave banking? Have done healthcare coverage and like healthcare but banking work life is just not sustainable. Appreciate any input.

When you’re looking to make an internal transfer, what forms of of networking work best?

like

I’m asking to get my notice period waived. I have a 30 day notice period per the employment agreement I signed, but it says they can waive it at any time after I gave notice. Im not going to a competitor or even the same industry. How likely is for my current firm to allow this?

like

I’ve had radio silence from a small investment bank for about a week now. I’ve completed several rounds of interviews, but last Thursday the firm reposted the job I’ve been interviewing for. On Friday the headhunter said that they’re not sourcing new candidates and it’s probably just LinkedIn automatically refreshing the listing. She said they had a busy week last week but will make a final decision this week - is the delay and radio silence a bad sign or is this typical for experienced hiring?

likehelpful

What do you guys think about a career in investor relations / capital formation for a decent size PE. I think principals get carry.

like

Looking to leave my auditing position with only 3 months of experience... I'm in a relatively small firm, and my manager's micromanaging is insane... Want to go into advisory, any advice is welcome.

Currently a CSA in PWM at a top wealth management bank (think UBS/MS/GS) but not loving private client work. What have other CSAs gone on to do that’s outside of the PWM realm?

like

Any suggestions for leaving a financial advisor/planner role? Finance has me drained and I don't want to be client-facing anymore.

like

Anyone here know/work at Facebook? Recently applied to a program there and would love to connect and chat further

like

If your base salary is materially under vs. market due to firm salary freeze despite fighting for it &directors pushing for it. Yet you have strong support to progress internally. Would you leave?

like

Any particular segment of sales good for ex-finance? Currently 3 years in at fortune 100 bank on business development side (on commercial loan originations team but no commission/targets at the associate level, basically do credit analysis and build pitch books for the producers) This role has been great as I have gotten both analytical experience and tasted sales experience (I say taste bc I’m not the producer) but would potentially like to transition to a sales role that is less analytical

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal