Merrill Lynch Bank of America Financial Advisor PMD Trainee (career risk) New York, New York

After reading the recent report from a former PMD FA at Merrill Lynch, I would like to share my experience, and highlight the career risk you are facing if you have a decent professional and personal background.

1. If PMD FA faced any compliant from clients, the PMD FA will have a choice of immediate resignation or termination. There is no warning as in other professional job.

2. You new clients who are in application process will not obtain any further support from the bank.

3. PMD FA will need to work out a plan to seek support from the HR department in the bank to obtain remaining salary (vacation pay) after leaving the bank. The branch will not contact you after your resignation for exit interview.

I fulfulled the production hurdle a few months in advanced before this incidence and have enjoyed building my business while helping people. I am facing challenges after gaining new insights from the management.

In summary, there are risks for mid-career professionals to join FA training program unless you have solid relationship with the management team. There is not much peer support or supervision on important tasks including operation and transaction support. The compliance and management team have their mandate to discuss issues in the branch. New FAs may not know if their work meet the quantity and quality required from the management.