Merrill Lynch vs. Waddell Reed

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Sep 2, 2011 4:54 pm

Hi I am completely new with the field of financial advising.  I have been offered a spot at Waddell and Reed to start next week and I am still in the interviewing process with Merrill Lynch.  Any insights as to which firm would be better to start with would be very appreciated.  Thanks!

Sep 2, 2011 6:00 pm

Complete the process with ML to see if you get an offer.  The more
offers on the table, the better off you'll be.  Most on this forum will
automatically bad mouth W&R but you need to weigh the
advantages/disadvantages of both and see which firm lines up with what's
most important to you personally. 

W&R's training/structure
isn't as good as ML's.  ML's hurdles are higher than W&R's. 
Starting salary is higher at ML.  Once established, 10MM AUM fee based
will be approx 37k at ML compared to approx 78k at W&R. 

Hope this helps!