07.14.26

Merrill Expects 75% Graduation Rate for Advisor Trainees

by: Miriam Rozen

Merrill Lynch expects about 75% of the 2,400 participants in its advisor training program to graduate, more than double the roughly 30% historical industry average cited by firm executives. Graduates leave the program with an average of approximately $64 million in assets under management. Merrill attributed the improvement to changes that include more structured coaching, centralized prospecting support and clearer performance benchmarks. The firm is also using the program to build its next generation of advisors as competition for experienced talent remains high across the wealth management industry.

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