Edward Jones vs. Merrill Lynch?

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Apr 14, 2012 10:33 pm

I'm curious if anyone has any thoughts on EJ vs. ML for someone very new to the industry. Training is important to me, as is the potential to make good money over time. I've heard a lot of negative things about both places... maybe someone could let me know about some of the positives?

I've gathered that EJ has some great training in place. Vets sit at phone banks. They pay most of your overhead. You can go on trips, etc. It seems like people feel as though they can "outgrow" the firm, and that the firm might be limited in some of the solutions they can offer to clients. Is this about right?

For ML, I am reading that getting an offer from them is sort of a "big deal," but it sounds like they bring in a lot of young FA's, keep them around for 2 years to get some big clients, then after 2 years 90% of the trainee's are gone because they were either fired or burnt out - but the base salary can be pretty generous (40 - 60K).

Thoughts?

Apr 15, 2012 8:14 am

Go with Merrill. It is a large firm and a good name.