Haha Merrill just reduced the pc payout grid by 3% for advisor below $2m in production

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Posting as :
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It’s absolutely disgusting you are taking pleasure in this. I feel nothing but empathy for advisors Merrill - or elsewhere - who get screwed by their company. Be better.

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I am so not surprised. They are a corporation that has to protect “shareholder value”. What the brokers make does not matter. That is why I left 9.5 years ago. I was a sales manager and resident director.

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I’m at Merrill 😂

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Don t come to Ubs. We suck. Our stock price sucks. Our technology is horrendous. We do have a corporate culture however that loves to pander to gay people though

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I wonder what it might imply about the long term health of our financial system in general when we are supposedly in the greatest economic boom since the end of World War 2. Maybe actions speak louder than words?

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Don’t go to UBS..NO better than Merrill.

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I am not taking pleasure in it. Please don’t assume. I am simply stating a fact. Big companies don’t care about their employees. They care about their investors. That’s all I feel sorry for them too

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Was talking to the original poster. No issue with your comment Art.

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Independence is the way to go.

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Are we surprised?

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So sorry OP

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My suggestion...go independent. Then you are the master of your own universe when it comes to comp! I did that over 9 years ago and it was the best decision I ever made! Let me know if you want advise on how it could work

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Fee compression is happening everywhere. Not just at Merrill. Even independents will have a tough time demanding 1%. Just wait for the big market correction and more clients will be asking why am I paying such a high trail when I can get the same portfolio for next to nothing at a Robo Advisory. Just sayin. Change is in the air

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I am happy Raymond James. I’m on the independent side. I come and go as I please. It’s your own business. I have a compliance officer but very relaxed atmosphere nothing like Merrill.

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Arthur I would like to talk if possible. How can I reach you?

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I am not one to hide. My personal cell is 623-203-9831. For your reference, I have been in the business 19 years. I have been a single FA building my own book, i have been in or on a team or two, I have been a junior FA to a senior advisor, a sales manager, a resident director, a rookie coach, and now an owner of a franchise of my own for the past 9 years, with 4 other advisors working WITH me not FOR ME! I have a lot of experience to offer. I ask nothing I return. ;-) I look forward to hearing from you. I live in AZ so I am on mountain time. Talk soon

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Come to UBS...lots of your colleagues have already 😬

I worked at Merrill for over 17 years. I’m sorry to hear this. Currently at Raymond James

I thought Merrill reduced the pay for everyone really

☝🏻 true, Raymond James cut back if you are not a million dollar producer

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