Isn’t anyone else seeing whats going on here?

Well first and foremost in this Post Covid world the fastest way to grow your practice as an advisor at a Wirehouse Firm like Merrill or Morgan Stanley is to be a proficient account poacher…taking over clients as everyone leaves like a fire drill in slow motion to go to better situations…or more recently they get terminated.

And Mr. Poacher don’t get too big because you will have a target on your back as soon as your T-12 gets above $1 Million…than its likely that you will get fired.well that is till you get fired. Really lately the BEST job to have within the wirehouse sector is as an advisor attorney.

Hey Merrill Advisor that is STILL there voluntarily and hasn’t gotten fired yet…WTF are you doing? Waiting to grab all that CTP money? That “Succession Plan” which in NO WAY should have the word “success” anywhere near it…the story of CTP or ALPHA or any of them and how great they are is such B.S, You know that business which you spent 20 or 30 or even 40 years building…You are going to hand it over tp Merrill to divvy up to whats left of the office..after Edge gets their chunk….net net you’ll only get about 40% off what you are really worth.

Haven’t you noticed that those advisors that left your wirehouse (at first a trickle….but now..) that you said were just “doing it for the money.,…” are actually happy now and crushing it that boutique or as an independent or having just launched their own firm as an RIA.

So Mr. or Mrs./Ms. Still At MerrillFor No F’in Reason…… –

What exactly is your strategy for growing your business?

Oh I see…you’re doing has been done at Merrill for decades…when those that said just a couple of years ago that they ” Would Never Leave Merrill ” actually do leave the firm (either via resignation or termination) you get handed a bunch of accounts and magically your assets and production grow. Are you proud of that growth strategy as your own firm is becoming more and more unrecognizable. The good news is that account poaching (beyond being an attorney for terminated advisors) is actually looking like the beast way to grow.your business As some of those that said they would “NEVER Leave insert firm name MerrilMorganUBS” are in fact leaving

And….what exactly is your succession plan? Sign the CTP or No matter your tenure time, irregardless of your production or your stature….you may feel “safe” while in your home office – but you aren’t.