• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
  • Diamond Consultants Advisor Transition Report 2022
  • Edward Jones Advisor Transition Report 2022 edition
  • Merrill Advisor Transition Report 2022 edition
  • UBS Transition Report 2022 edition
  • NEW – Edward Information Jones Hub
  • Merrill Information Hub
  • UBS Information Hub
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
    • Transition Announcements
  • Tools for Advisors
    • Diamond Consultants Advisor Transition Report 2022
    • Edward Jones Advisor Transition Report 2022 edition
    • Merrill Advisor Transition Report 2022 edition
    • UBS Transition Report 2022 edition
    • NEW – Edward Information Jones Hub
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

Merrill's Project Thunder:

Too Little Too Late?

Merrill's Project Tunder: Too Little Too Late?

While this topic is specific to Merrill, it’s certainly not meant to be an indictment against the firm. It’s an example of the growing pains experienced at any of the larger bank-owned firms as they struggle to balance growth and revenue—while managing thousands of advisors and creating layers of guidance designed to serve many.

For example, in an attempt to stave off increasing advisor attrition by addressing some of the frustrations expressed by their advisors, Merrill Lynch rolled out a campaign called Project Thunder.

Since its launch over the summer, there remains some unanswered questions:

  • Does the campaign resolve what’s really bugging advisors most?
  • Will these measures work to halt the tide of attrition?
  • Or to put it another way, is it too little too late?

This episode explores the answers to those questions and more, plus delves into what we’re hearing from advisors: 

  1. Many want to take a “wait and see” approach. Is there any risk to staying put?
  2. Advisors are growing at record rates—especially this year. Why mess with success?
  3. Is Project Thunder the beginning of greater acknowledgement by Bank of America that there are changes that need to be made to stave off further attrition?
  4. And, ultimately, what can advisors expect in the coming months?

To be sure, Merrill is a world-class firm with a strong platform, technology stack and brand respected more than most in the industry. And it wouldn’t take much to get advisors to stay put.

And this is true of any large firm: Advisors don’t need all of their needs to be addressed. What advisors do want is to feel connected. They want to feel as though they are being heard. And they want to retain some agency over their business lives.

Listen to learn more about how these changes impact employee advisors at all ranks at Merrill and other large firms.

Listen in

Subscribe for Updates

Get email notifications featuring the latest articles and episodes from the industry’s leading knowledge source for financial advisors.

Please note that all requests are handled with complete discretion and confidentiality.


 

More on the topic

Merrill’s Project Thunder
Do the Rumblings from Advisors Indicate an Approaching Storm? Read->

Merrill Advisors Ask…
Answers to the most frequently asked questions when considering a transition from Merrill Lynch. Download->

Why Are So Many Merrill Advisors Moving
Bracing for the Next Chapter. Read->

We're available to answer your questions. Contact us

Connect with us

Search

© 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

  • Leading Financial Advisor Recruiting Firm:
  • About
  • Services
  • FAQs
  • Articles
  • Podcast
  • News/Media
  • Tools/Resources
  • Contact
  • Our Locations
  • Privacy Policy
  • Site Map