Sales Managers at ML

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Nov 16, 2009 8:15 pm

Does anyone know what is ask of a producing sales manager at Merrill? Duties, compensation, etc.?

Nov 16, 2009 9:12 pm

Since you have no idea, I would say you are qualified. I have yet to meet one who had any good ideas.

Nov 16, 2009 9:38 pm

mlgone, you seem bitter?

Nov 16, 2009 10:24 pm

thenewbull-Most ML sales managers are producing FAs who don't receive a stipend(or a very small one per month).  They used to get their LOS(you would know this and the value of this if you work at ML) frozen, but I don't think they do anymore.  Most that are a sales manager in a regular branch office are just regular FAs who are generally well liked/respected in the office.

Nov 16, 2009 10:27 pm
bondo:

Since you have no idea, I would say you are qualified. I have yet to meet one who had any good ideas.





funny



up for post of the year

Nov 17, 2009 12:50 am

Produce.

 
Nov 17, 2009 10:14 pm
SouthFA:

thenewbull-Most ML sales managers are producing FAs who don't receive a stipend(or a very small one per month). They used to get their LOS(you would know this and the value of this if you work at ML) frozen, but I don't think they do anymore. Most that are a sales manager in a regular branch office are just regular FAs who are generally well liked/respected in the office.





LOL...sure wasn't the case in the ML office I was in until mid-2008. He was not respected at all, and his ideas were a regurgitation of firm structured products (you know, the ones that nearly went to zero)...he manipulated every new advisor into "splitting" their decent prospects with him, then as they starved and failed, he kept them.

Nov 17, 2009 10:29 pm
Shania Twain:
bondo:

Since you have no idea, I would say you are qualified. I have yet to meet one who had any good ideas.



funny

up for post of the year

 
I would like to thank the fans who voted for me!
 
I really have no idea what a sales manager would do now considering the voluminous ideas (garbage) they are constantly throwing at the advisors via emails, their little DBS programs, and directors adding their "unique" ideas.  Now the sales ideas are even coming from the banking side too.  When these guys do not know the difference between an exchange fund and an exchange traded fund, it is time to ignore them.
Nov 18, 2009 8:31 am

I bought a toaster yesterday and they gave me bank.

 
 
Nov 18, 2009 2:05 pm
bondo:

Since you have no idea, I would say you are qualified. I have yet to meet one who had any good ideas.

 
 

 
 
 
Nov 18, 2009 8:43 pm

Your LOS freezes, enabling you to be in the business for 20+ years, contribute nothing as far as good ideas, and then since your LOS 4 you can screw newer FA's out of there bonuses just because your LOS got frozen because you're considered "management".

 
Sorry, I guess I sound bitter tonight. 
 
I did have a good Sales manager at ML who focused a lot more on training FA's.  Brought in a great teacher to run CFP courses for us in the office and six months later 18 out of 19 of us were CFP's (9 months later if you count waiting for exam results).  So it's not all worthless ideas....but most of it is.