I'm looking for some personal insight into the Merrill Lynch TFA program (Investments and Financing role). If you are currently in this role I would appreciate any insight into the program.
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First, how has your experience been? What are some pros and cons?
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On a typical day, what do you spend most of your time doing?
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Based on your experience, is this mostly a post graduation type job or are there people switching careers into this program that are older?
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I've read another forum post expressing concern about the challenge of bringing in assets and finding new clients. In the Investments and Financing role are you responsible for that too, or given the specialization of the team is there a dedicated person for cold-calling, networking, etc. (I'm assuming everyone is encouraged to bring in clients, but wondering if you have a goal, and if your employment is contingent on meeting it. )
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Are you responsible for client portfolio recommendations or is that handed down by the corporate equity research team?
Thank you for any responses!
BTFA position through BofAML - Any experiences? (Originally Posted: 02/10/2018)
I currently work in the wealth management field at Merrill Lynch. I am curious as to whether anyone on these boards has been offered the opportunity to take the role of Bank Team Financial Advisor (BTFA). If so, please provide your thoughts on the position and potential future for advancement.
I am being offered the opportunity to move into a bank and take on the role of BTFA. There would be a bump in base of ~ $20k/yr plus bonus. However, from what I understand, there are a number of obstacles, including the fact that the branch location is very important. If going this rout, it is imperative to be in a busy location in a wealthy area.
I'm being offered this position because I literally tried to quit a couple of weeks ago, but the team I am loosely affiliated with wanted me to take some time to think about my decision. Tried to give notice on Thursday mid-day and my boss suggested I take the rest of the week off, talk to my bride, and allow him and his partner the opportunity to speak to my office manager. This BTFA opportunity is their answer to my conundrum.
All that said, does anyone have any experience in this position? After ~ 10 weeks of bank training, my position would be Associate VP of the bank (nothing more than a title). Not sure this is something I should consider, but interested to hear others perception or past experience.
Thx in advance.
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