January 28, 2022
By James Rogers
The swift firing of a Merrill Lynch financial advisor over an alleged bias incident at a Connecticut smoothie store serves to remind other FAs that they work in a high-profile industry, and there are consequences to bringing bad publicity to their employer’s doorstep.
A firing over an allegedly racist rant could lead to employment challenges, but it’s not necessarily the end of the road, according to Louis Diamond, president of the recruiting firm Diamond Consultants.
“It has gotten increasingly more difficult for terminated advisors to find employment across the board,” Diamond said. “Regardless of the nature of the termination, most top tier firms have strict policies against hiring terminated FAs.”