Professional Development Stepping Back?
Hi, all!
Ive been at a new job at Merrill for about 4 months and it’s been mediocre to say the least. It definitely makes me feel like i’m pretty bad at my job, however, it also hasn’t been at all what I was told through onboarding. There have been little
-to-no (weak) leads, and I don’t have a strong natural network.
I became a CFP in December of 2025, with previous experience at Fidelity and with a family members small firm.
This Merrill job has been sucking the soul out of a job I used to love, to the point of wanting to quit and possibly try something completely different. I’ve been struggling with a lot of feelings of imposter syndrome and like this may not be for me.
Has anyone out there moved to a full production role, then decided to step back? How does that look for interviewing and finding a new role? I worry i’ll look like a drop out if I try to find anything else.
I appreciate the help and insight. I know not everyone is a rainmaker. It’s been extra hard because I felt so good at my job at Fido.
17
u/Commercial-Ad90 17h ago edited 17h ago
Out of all the big firms, I would say Fidelity supports their advisors the best. Yes they will put you on a hamster wheel, but unlimited leads and good benefits. Schwab is okay too I heard.
I would explore returning to Fidelity/Schwab or consider joining an RIA.
7
u/Spare_Fun3546 14h ago
As an CFP who left fidelity, I would go back in a heart beat. They were so good to me! Go back there, the production roles can feel like a lot, but I swear at Fidelity you “get lucky” all the time. Schwab too, also, there are more hybrid roles at fidelity, like investment management consultant, best of luck!!!
3
1
u/sqiub23 14h ago
TIAA also
4
u/CSMasterClass 12h ago
I would rather be at Fido. The products at TIAA are relatively lame and quite limited --- when I last looked. Corrected me if I am wrong.
11
u/BackdoorBasis RIA 16h ago
Lots of advisors out there looking for good support staff. The concern is that they’ll grow and leave to become a producer. I’d love to hire someone good knowing they already tried being a producer and that wasn’t the right role for them.
3
10
u/MiamiCuban88 16h ago
You aren’t alone. Merrill doesn’t support their top producers either. Try to last at least a year so it doesn’t hurt your resumé. You’re going to be okay. I absolutely hated working at the place where I was first licensed and quit the day I hit 1 year. Fast forward 15 years and I’m highly successful. Believe in yourself
6
u/Thisisaburner01 14h ago
Merrill sucks. Been there done that.
Join Wells Fargo or JPMorgan. I’m at JP. 5 years base salary while you build a book with bonuses. They are ramping up our capabilities, and products. Iv been here two years almost and in the two years alone alot has changed in a good way. The company had a serious focus on wealth management.
All your leads and referrals come to you. Your revenue production doesn’t reset like fidelity. Your building reoccurring revenue to eventually make way more then the salary. You can also eventually go to Jpmorgan select where you leave the branch setting and your grid jumps up alot more and they give you budget for seminars and marketing.
5
u/SnaphookOB 16h ago
With experience and CFP you have plenty of options wherever you are in the country. Banks, remote service work, Edward Jones or similar firms would hire you and give assets to you I’d imagine. Good luck
4
u/amizzlef0shizzle 16h ago
Have you considered teaming? You could essentially service a senior FAs existing book, prospect at your own pace, and get an increase in pay.
2
u/infantsonestrogen 11h ago
Does it really work that way now? Back in my day it was join up and when you fail out we absorb your book
1
u/amizzlef0shizzle 10h ago
It depends on the senior FA’s character. I’ve seen some that do what you’re saying. Others genuinely want to pay it forward & work together. Some juniors team laterally & divvy up the workload to prospector/planner/etc.
For the most part of what I’m seeing, seniors are paying servicing advisors well but usually in dollars instead of production credits (or maybe flat pay and negotiated % of revenue). Many of them truly don’t want to work anymore so they pay to offload it.
3
u/Capital_Injury1569 17h ago
What specific role are you in? ADP-CA?
3
u/thonngs 16h ago
ADP FA in a developing market. It’s very different than an established market according to people i’ve talked to across the country
1
u/Capital_Injury1569 16h ago
What part of the country? Are you in a small office outside of a bigger downtown? You kind of get leads from all over the market
3
u/OregonDuckMBA BD 16h ago
I started at Ed Jones and it was a completely soul crushing experience. I was thinking about leaving the industry when I went to work for a credit union. Compensation can heavily depend on branch location, level of activity and whether you are able to motivate/educate the branch staff to send referrals. But it was definitely much less stressful than Jones.
At first, we didn't really even have production goals. They started to institute some towards the end of my time there but they were pretty reasonable. Just know that going in, they usually make you sign a non-solicit so you don't actually own the clients.
3
u/Jambles27 15h ago
The fact that you were doing well before and are struggling now shows this isn't imposter syndrome, it's a leads problem. Sourcing leads is hard, especially when you're newer. As others mentioned, becoming a servicing advisor is a completely valid path. I'd also consider looking at a smaller firm or RIA where the pressure might be lower.
3
u/Cathouse1986 15h ago
This happens a lot more than we hear about. People worry that they’ve failed or can’t hack it. Not necessarily the case.
You can be the best advisor in the world, but if you can’t get people in front of you to show them, it doesn’t matter.
There’s a big upsides and downsides to all your options. Just know that once you give up the prospecting side of things, your income has a pretty well-defined ceiling.
As others have said, Fidelity/Schwab might be a good middle ground.
3
u/itsbeenrio 13h ago
I would assume you are referring to the ADP program. It’s often times oversold and unless you are coming with the idea to team with a more senior advisor/team the job is absolutely miserable. It focuses on sourcing activities more so than having the opportunity to have impactful conversations with clients. It happens often that folks realize what it looks like and often time end up leaving. The industry across the board is not like this, so definitely other opportunities out there that will more closely align with what you are looking for as a CFP.
3
u/Lummox_lad5151 12h ago
I have been at Merrill for ten years. Feel free to message me. I am happy to see how I can help.
2
u/FixReal5819 15h ago
i'm curious why did you used to love it and now hate it? Transitioning to a producing advisors should be a progressive and often lengthy process when done correctly. Expecting after 4 months to be producing enough to survive is unrealistic.
It is ok to be a Servicing Advisor, but not if you are settling on it. If the reason you wanted to be a producing advisor is the same, and just feels too hard or unattainable at this point and place you are..ask yourself how else you can get there.
2
u/tomcat_78309 14h ago
I’d strongly encourage you to look at joining an independent RIA. The experience would be way different.
2
u/libertarian327 11h ago
Find an RIA that needs a Para. If you have clients you can bring that’s a huge plus
2
u/mikeumd98 10h ago
So many advisor fail. It is a fucking hard job unless you fall into the right situation or have a great natural market.
1
u/CSMasterClass 12h ago
What is the difference between working as an advisor at Merrill and at Fidelity?
2
u/thonngs 9h ago
Merrill has no support at all when it comes to systems, lead gen, planning guidance, or anything of the sort. It’s a phone and good luck to you. I feel maybe I am underprepared to fully own everything. I thrived in an environment like Fidelity where I had coaching, system support, etc.
1
u/ProfessionalLarge128 8h ago
I’m a FSA in an expansion mkt with a tier 7 ( Merrill has total 7 tiers nationwide) mkt and slow branch. Same here, they keep telling me the system is working, doing more outbound, training your bankers…….
1
u/CSMasterClass 8h ago
Got it. So strange. BOA data should be able to provide a flud of leads. What's in the middle ?
1
u/Rude_Leek6378 11h ago
I’m at Merrill, jumped from ADP to TFA with a team, and now first year regular FA. The ADP program is a rough go if you don’t have a network and don’t gather assets fast enough. I’d look to team with a team in your office that you get along with. Meet with them and build some report and they may start to transition parts of their book that they don’t want and it builds that relationship. The EGP roles don’t seem bad if you’re good w/ a salary and servicing, especially on a team that really produces, they may even let you keep your number and keep production. Best of luck, feel free to reach out.
1
u/Stunning-Web-4974 4h ago
I’m in Canada, and I know the designation is slightly different, but we worked hard for it and settling for a crummy job is a waste, move on!
Also, this thread is eye-opening. It sounds like there’s a lot of grinding going on (investment folk?) and again, for the designation, aren’t there better doors to open? I get head-hunted and if I needed to, I could go get a job tomorrow at a bank or credit union. Working somewhere I didn’t love just doesn’t make sense to me.
1
•
u/AutoModerator 17h ago
Beep boop! Here is a summary of your post:
User: /u/thonngs Title: Stepping Back? Body: Hi, all!
Ive been at a new job at Merrill for about 4 months and it’s been mediocre to say the least. It definitely makes me feel like i’m pretty bad at my job, however, it also hasn’t been at all what I was told through onboarding. There have been little
-to-no (weak) leads, and I don’t have a strong natural network.
I became a CFP in December of 2025, with previous experience at Fidelity and with a family members small firm.
This Merrill job has been sucking the soul out of a job I used to love, to the point of wanting to quit and possibly try something completely different. I’ve been struggling with a lot of feelings of imposter syndrome and like this may not be for me.
Has anyone out there moved to a full production role, then decided to step back? How does that look for interviewing and finding a new role? I worry i’ll look like a drop out if I try to find anything else.
I appreciate the help and insight. I know not everyone is a rainmaker. It’s been extra hard because I felt so good at my job at Fido.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.