Beginning September 1, 2020, Merrill Lynch will pay brokers who join the Accelerated Growth and Community Markets programs a five-year salary guarantee.  This is an increase from the current three-year guarantee.  Program participant salaries are calculated by taking the advisor's 12-month gross production at their previous firm multiplied by 2.5 and then divided by 5. Additionally, those programs will also provide a traditional grid-based payout of at least 34%. 

The Accelerated Growth and Community Markets programs began in 2018 when Merrill Lynch moved away from hiring experienced advisors. The Accelerated Growth program is open to advisors with between two and 12 years of experience, and advisors must meet asset transfer goals to stay in the program. In 2019, the Accelerated Growth program brought in 167 brokers. 

In addition to those programs, Merrill Lynch also offers a 43-month training program for new advisors. Furthermore, Merrill Lynch is introducing a new position of broker sales associate, which the firm hopes will help some employees to become advisors. 

Financial Advisor Transitions helps advisors weigh the advantages and disadvantages of their transition options, and guides them as they transition from one firm to another. Call us today for a free consultation.