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!