As wealth management firms grapple with the challenge of how to replenish an aging financial advisor population, Bank of America Merrill Lynch is increasingly turning to its own solution: grow your own.
Merrill Lynch’s financial advisor training program has been undergoing an overhaul during the last 18 months, with new tweaks to the hiring process, content, training, mentorship and local leadership. The results, the firm says, should help push the rate of trainees who successfully get licenses and then graduate from the program from 41% to 50%.
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