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Merill Lynch POA Compensation

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Apr 6, 2007 6:27 am

[quote=BullBroker]

In my opinion the big thing that separates ML from the other wirehouses is the training.  Specifically, making POA’s go through the CFP program.  I think that really shows that they want to invest in the POA’s and are not just using them for their natural market.  Even if you don’t make it at ML as a POA you really do walk away from there as very attractive to any other firm.  You are fully licensed, have gone through the best training in the industry and are half-way through the CFP certification.  That’s hard to beat.

[/quote]

This is your expert opinion coming from a know it all newb who doesn’t even have his production number yet?
Apr 6, 2007 12:38 pm

[quote=BullBroker]

In my opinion the big thing that separates ML from the other wirehouses is the training.  Specifically, making POA's go through the CFP program.  I think that really shows that they want to invest in the POA's and are not just using them for their natural market.  Even if you don't make it at ML as a POA you really do walk away from there as very attractive to any other firm.  You are fully licensed, have gone through the best training in the industry and are half-way through the CFP certification.  That's hard to beat.

[/quote]

Someone fails in spite of the best training in the industry and that makes them attractive? You just made yourself look like a fool.

Apr 6, 2007 1:08 pm

I don’t think so Bobby.  For a new rep $5 million in new assets in
a year at some firms is good, an ML you get fired.  The hurdles
and expectations are high, too high in my opinion, and to get through
them on your own is very difficult.  There are many people that
leave ML under there hurdles and go on to succeed, and are better for
the experience they had at ML. 



ML want very very large producers in general, and they sacrifice alot
to get there.  I am not saying it is right, but if you join ML to
make $150K for a lifetime and sip coffee all day don’t bother.

Apr 6, 2007 1:40 pm

[quote=rightway]I don't think so Bobby.  For a new rep $5 million in new assets in a year at some firms is good, an ML you get fired.  The hurdles and expectations are high, too high in my opinion, and to get through them on your own is very difficult.  There are many people that leave ML under there hurdles and go on to succeed, and are better for the experience they had at ML. 

ML want very very large producers in general, and they sacrifice alot to get there.  I am not saying it is right, but if you join ML to make $150K for a lifetime and sip coffee all day don't bother.
[/quote]

I'll buy that.

Apr 6, 2007 7:28 pm

Joe, it is obvious you are a crumpy frustrated old man who has been beat up by this industry.  I am sorry for whatever has happened to you to make you act and treat people this way.  Is this really the way you want people to see you?  Just some advice from a idiotic can’t spell newbie, but life is much to short to spend bagging on other people all the time.  You really are wasting your life away and it is benefiting no one in anyway, you are not making a contribution, it’s a waste because you “seem” like an intelligent individual with some useful insight.  As for Bobby Hull, rightway pretty much put you in your place, you pretty much just made yourself look like a fool.  Have a great Easter all!!

Apr 6, 2007 7:46 pm

[quote=BullBroker]Joe, it is obvious you are a crumpy frustrated old man who has been beat up by this industry.  I am sorry for whatever has happened to you to make you act and treat people this way.  Is this really the way you want people to see you?  Just some advice from a idiotic can't spell newbie, but life is much to short to spend bagging on other people all the time.  You really are wasting your life away and it is benefiting no one in anyway, you are not making a contribution, it's a waste because you "seem" like an intelligent individual with some useful insight.  As for Bobby Hull, rightway pretty much put you in your place, you pretty much just made yourself look like a fool.  Have a great Easter all!![/quote]

I find myself checking this site more often now that Bullbroker has joined, every post more ridiculous than the last. You should be thanking the people on here for the valuable insight they provide into a world you and I know nothing about. Your inability to take and use constructive criticism will kill you in this business and any other business for that matter. The sooner you realize this, the sooner you will be on your way to a successful future. If everyone on here told you what you wanted to hear you wouldn't learn a thing. Start using phrases like "thank you" or "I appreciate your help". You will be surprised by the way people will begin to treat you. Good luck and enjoy your Easter weekend.

Apr 6, 2007 7:47 pm

thank you I appreciate your help

Apr 6, 2007 8:00 pm

…great post…

Apr 6, 2007 8:15 pm

[quote=BullBroker]

In my opinion the big thing that separates ML from the other wirehouses is the training.  Specifically, making POA’s go through the CFP program.  I think that really shows that they want to invest in the POA’s and are not just using them for their natural market.  Even if you don’t make it at ML as a POA you really do walk away from there as very attractive to any other firm.  You are fully licensed, have gone through the best training in the industry and are half-way through the CFP certification.  That’s hard to beat.

[/quote]

You think that ML is the only firm that has their trainees get the CFP designation?  If so, then you obviously didn’t look very close at the programs of the other firms.
Apr 6, 2007 10:18 pm

[quote=BullBroker]thank you I appreciate your help[/quote]

See that wasn't so hard.

Apr 6, 2007 10:38 pm

MM,

  Thank you, I appreciate your opinion.

  BB

Apr 7, 2007 12:40 am

[quote=BullBroker]

MM,

  Thank you, I appreciate your opinion.

  BB

[/quote]

It wasn't an opinion.  It was a statement of fact.
Apr 7, 2007 3:22 am

[quote=12345]

[quote=BullBroker]Joe, it is obvious you are a crumpy frustrated old man who has been beat up by this industry.  I am sorry for whatever has happened to you to make you act and treat people this way.  Is this really the way you want people to see you?  Just some advice from a idiotic can’t spell newbie, but life is much to short to spend bagging on other people all the time.  You really are wasting your life away and it is benefiting no one in anyway, you are not making a contribution, it’s a waste because you “seem” like an intelligent individual with some useful insight.  As for Bobby Hull, rightway pretty much put you in your place, you pretty much just made yourself look like a fool.  Have a great Easter all!![/quote]

I find myself checking this site more often now that Bullbroker has joined, every post more ridiculous than the last. You should be thanking the people on here for the valuable insight they provide into a world you and I know nothing about. Your inability to take and use constructive criticism will kill you in this business and any other business for that matter. The sooner you realize this, the sooner you will be on your way to a successful future. If everyone on here told you what you wanted to hear you wouldn't learn a thing. Start using phrases like "thank you" or "I appreciate your help". You will be surprised by the way people will begin to treat you. Good luck and enjoy your Easter weekend.

[/quote]

Well said, Padwan, well said!
Apr 7, 2007 1:35 pm

MM,

I appreciate your opinion, thank you for your response.

 BB

Apr 7, 2007 8:53 pm

[quote=BullBroker]

MM,

I appreciate your opinion, thank you for your response.

 BB

[/quote]

The point bro is that even if people take a bit of a poke at you when answering your posts, there are often jewels of wisdom.  And if you're getting cr*p from the old timers, it *might* be because you come across like a 'know it all'.  Then again, there are some, ahem BobbyHull, who just like taking potshots for no good reason.
Apr 7, 2007 9:55 pm

Thanks for the wisdom Joe

Apr 7, 2007 10:08 pm

[quote=BullBroker]Thanks for the wisdom Joe[/quote]

I sincerely wish you luck.

Apr 8, 2007 10:03 pm

Thanks, seems like I will need quite a bit to make it in this industry. 

Apr 17, 2007 4:25 am

If you are in the POA program would it be possible to buy a book of a retiring rep in order to boost your AUM?

Apr 18, 2007 10:28 pm

I think that would be up to Branch Manager discretion.  Sounds like a formula for the rich to get richer.