Wachovia or Merrill?

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Sep 22, 2005 1:35 pm

As a trainee entering either Wachovia's or Merrill's POV program, which would some more seasoned professionals recommend? I live in New York, and have the advantage of a city office with Wachovia, but would most likely be in a suburban office with Merrill... any suggestions?

Sep 22, 2005 2:01 pm

Why would you go to either.  What kind of prospects do you have, what kind of products do you want to have access to?

Sep 22, 2005 2:12 pm

Why would'nt you go to either. Both have good name recognition, I'm partial to Merrill, it's my firm. Believe me, the client does'nt know one from the next. Make your choice based on the people you like working with better.

Sep 22, 2005 3:36 pm

Run do not walk from wire houses! Find an Indy and work under him/her for several years to learn this business even as an assistant. I wish I would have taken this route it would have saved me a lot of head aches!

Sep 22, 2005 8:42 pm

I am intent on establishing an advisory practice, and I would prefer attracting HNW clients, with the help of a good team behind me and a solid work ethic of my own.


My question was more pertaining to the training program and support the firms give to their rookies, respectively... Based on anyone's knowledge, does one overshadow the other in any way? What about compensation (commission payout, not salary)?

Sep 22, 2005 9:02 pm

Merrill's name is much much better than Wachovia's.

Sep 22, 2005 9:59 pm
Greenbacks:

Run do not walk from wire houses! Find an Indy and
work under him/her for several years to learn this business even as an
assistant. I wish I would have taken this route it would have saved me
a lot of head aches!





We have a guy in our office who is LOS 4 (Yup, cut his teeth in the fat
part of the bear makrket) and will do $500K in Production this year,
around $220K in income.  He came in as a POA (ML) and just worked
hard.  No special talent or anything.  He will be doing a
million by his 10th year for sure.  He is not the norm, but maybe
you are not either...