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Merrill Lynch job cuts?

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Sep 12, 2011 3:20 pm

Alias

Joined: 2009-01-25Offline

Has Merrill ever laid off advisors? I know they have a penalty box to push them out of the door, but have they been more aggressive?

I''ve been an FA since 2006. Needless to say, it's been a challenging time. I'm on my own and I've survived but I have not thrived. I'm worried that ML will cut 5th quintilers, of which I am one. Sure, I can move to another firm, but I prefer to stay at ML.

Any thoughts? Would a 5th quintiler be safer as an FA or an IA?

Thank you!

Sep 12, 2011 7:05 pm

Gruntal'd

Joined: 2006-06-28Offline

they laid off the trainees in 2008 / 2009.  I doubt they would layoff 5Qs.  Instead, you would get the penalty box and possibly be "put on plan".  That's a BAC thing where you are given 30 days to complete specific duties / tasks / behaviors that would illustrate that you are working your hardest.  If you've been at it for 5 years, you might want to re-think your approach etc.  - maybe join a team or something ?