For advisors who have spent the majority of their careers at Merrill Lynch and are content with their current situations, it’s understandable. The renowned institution offers stability, substantial income, and a sense of belonging. However, it’s essential to delve deeper into the potential drawbacks of Merrill’s Career Transition Program (CTP) before making any decisions. Let’s
In the ever-evolving landscape of financial advisory, a notable trend has been emerging in recent years: top producers, once firmly entrenched in large firms like Merrill Lynch, Wells Fargo, Edward Jones, and others, are increasingly making the leap to regional, independent, hybrid-RIA (Registered Investment Advisor), and standalone RIA structures. What’s driving these transitions, and why
Are you a financial advisor contemplating a significant transition in your career? Whether you’re considering moving to a new firm, adopting a new business model, or venturing into independent practice, the decision to transition should be made with careful consideration and a well-thought-out plan. Transitioning can be a life-changing move, and to ensure it goes
Planning for succession is important for a financial advisor’s book of business for several reasons: ๐ญ. ๐๐ผ๐ป๐๐ถ๐ป๐๐ถ๐๐ ๐ผ๐ณ ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ: Succession planning ensures that your clients will continue to receive the same level of service and attention even after you decide to retire or leave the firm. ๐ฎ. ๐ฃ๐ฟ๐ผ๐๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐๐ผ๐๐ฟ ๐น๐ฒ๐ด๐ฎ๐ฐ๐: Succession planning allows you to
This is a common question asked to consultants from financial advisors, โ๐๐ฉ๐บ ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ ๐ธ๐ฐ๐ณ๐ฌ ๐ธ๐ช๐ต๐ฉ ๐บ๐ฐ๐ถ๐ณ ๐ง๐ช๐ณ๐ฎ ๐ธ๐ฉ๐ฆ๐ฏ ๐ ๐ค๐ข๐ฏ ๐ต๐ข๐ญ๐ฌ ๐ฅ๐ช๐ณ๐ฆ๐ค๐ต๐ญ๐บ ๐ต๐ฐ ๐๐ฐ๐ณ๐จ๐ข๐ฏ ๐๐ต๐ข๐ฏ๐ญ๐ฆ๐บ ๐ฐ๐ณ ๐๐ข๐บ๐ฎ๐ฐ๐ฏ๐ฅ ๐๐ข๐ฎ๐ฆ๐ด ๐ฎ๐บ๐ด๐ฆ๐ญ๐ง?โ A third-party recruiter in the financial services industry can offer several advantages over going direct: ๐ญ. ๐๐ฐ๐ฐ๐ฒ๐๐ ๐๐ผ ๐ฎ ๐๐ถ๐ฑ๐ฒ๐ฟ ๐ฟ๐ฎ๐ป๐ด๐ฒ ๐ผ๐ณ ๐ท๐ผ๐ฏ ๐ผ๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ถ๐ฒ๐: We
๐ญ. What kind of clients are you looking to place me with and how do they align with my strengths and interests?๐ฎ. How much ๐๐๐ฝ๐ฝ๐ผ๐ฟ๐ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐๐ผ๐๐ฟ๐ฐ๐ฒ๐ will I have access to, such as ๐ณ๐ฆ๐ด๐ฆ๐ข๐ณ๐ค๐ฉ, ๐ต๐ฆ๐ค๐ฉ๐ฏ๐ฐ๐ญ๐ฐ๐จ๐บ, ๐ข๐ฏ๐ฅ ๐ฎ๐ข๐ณ๐ฌ๐ฆ๐ต๐ช๐ฏ๐จ?๐ฏ. Can you provide me with information about the compensation and benefits package, including the payout structure?๐ฐ. Can
Notching its third multi-million dollar team in as many weeks, First Republic Bankโs private wealth unit on Friday hired a Merrill Lynch team generating $7.8 million in annual revenue from $850 million in client assets in Wellesley, Massachusetts, according to a source familiar with the move. The 12-person team is led by Derek M. Mohamed
If you’ve been terminated as a financial advisor, here are 5 proven measures you can do to try to retain assets under your management: 1. Communicate with your clients. Reach out to them as soon as possible and explain the situation. Provide them with your contact information and let them know that you’re still available
Merrill Lynch, which has revived its veteran broker recruiting efforts, has another big gap to fill as a longtime private wealth broker with over $4 billion in client assets struck out on his own in San Francisco. After 18 years with the โthundering herd,โ Ash Chopra left on Friday to launch Syon Capital, according to
First Republic Bankโs Private Wealth Management division has lured a veteran Merrill Lynch broker who led a team generating $3.4 million in annual revenue, according to a well-placed source. The group is led by Radhika Mehta-Sharan, who started as a client associate at Merrill in 2000, according to her LinkedIn profile and registration records. She
