Will Merrill Lynch plan to add fresh advisers to offices be a boon — or a bust?
Louis Diamond Quoted
By Bruce Kelly
Merrill Lynch’s plan to seat up to 300 young advisers in branch offices with its most experienced and profitable financial advisers could be a boon to business, with referrals flying back and forth, or it could backfire and add unnecessary friction among its sales force, according to industry observers.
From Merrill Lynch’s standpoint, adding the Merrill Edge advisers to offices is a way to better serve a range of clients, said Louis Diamond, an industry recruiter.
But experienced advisers, some who have had to hand over smaller accounts to the Merrill Edge business, may disagree, Mr. Diamond said.