Merrill To Lay Off 400 Brokers In Training Program

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Dec 20, 2008 5:14 pm

I believe that they are terminating trainees with 6 months or more of a production number.



In our office we have let go all most all of POA’s and many of PMD’s. Even the ones that had met their goals, but fell behind because of the market. My best advice is to have a backup plan. You don’t want a termination on your record. In our city Morgan Stanley is hiring, so Wachovia and Smith Barney was hiring but that may have changed. You can talk to your clients about the changes and prepare them for the move, i.e. “With the merger of Bank of America I have began exploring other options that I feel will be a better fit you”. Or something along those lines.

Dec 20, 2008 5:30 pm

not in poa…los 5

Dec 20, 2008 5:58 pm

Bella-



Whats your production and mix?

Dec 20, 2008 6:07 pm

Bella,

  You are LOS 5 and out of POA- you have nothing to worry about except moving your book.   Phan
Dec 20, 2008 6:53 pm

But is there a non-compete clause if I go to a indy because they don’t particapate in the protocol? What is the non-compete for poa’s