ML POA to bank

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Jul 10, 2007 1:47 am

i've been in the ML POA program for a few months now and haven't done well as getting positive results from my marketing efforts. I thought i could rely on getting some help from some previous business contacts but to date, nothing really that great has come through. In addition, i really haven't been that happy with the ML culture. I don't mind working alone, but am not to keen on the idea of being in office setting where people think they are better than you simply because they have more AUM than i presently do. For that reason, you get ignored and not receive any real support in the form of advice of how to better do this job. (i know it varies from one office to another). Anyways, i am currently being recruited by a couple of banks and the programs seem to be pretty decent. As much as i wish i had the contacts and the know-how to market myself, it's just not working. Has anyone on here found success in leaving ML POA and entering into a bank program? I am thinking that my personality might be better suited in the bank rather than in the "stuffy" ML office.

Jul 10, 2007 3:45 pm

I know of a rep in TN that was with Merrill and made the transition to a bank, built a book of approx. $30 million in AUM and about $300k in revenue, most recurring, and just transitioned over to the independent model and moved about $250k of that revenue with him.  I don't think it is a bad move. 

Jul 10, 2007 4:56 pm

do you know how he was able to deal with the issue of repayment of training cost when he left ML?