Financial Advisor Trainee Job Description
The Practice Management Development (PMD) role is a training program to develop and prepare future Financial Advisors for a successful new career. The primary focus of the PMD role is to build and enhance client relationships under close supervision of coaches and managers. These client relationships are the base for your book of business. Financial Advisor Trainees learn to assess client needs, meet with existing and prospective clients, review investment goals and prepare recommendations for products such as stocks, bonds, options, mutual funds and annuities.
The Financial Advisor Trainee receives:
- The strength and name recognition of Merrill Lynch and Bank of America.
- A base salary through the full three plus years in the PMD program. This roll will become a fully commissioned position after completion of the PMD program.
- World class training throughout their career with Merrill Lynch
- State of the art software programs to assist in your success
- Access to a full array of investment and banking products for your clients
- Coaches or mentors located within your office to work with you towards your success
Essential Duties and Responsibilities:
- Performance Hurdles: A Financial Advisor Trainee must acquire clients through personalized marketing techniques to meet minimum performance hurdles.
- Registration and Licensing Requirement: A Financial Advisor Trainee is required to obtain necessary licensing and registrations (Series 7 and Series 66 and Insurance).
- Education Requirement: A Financial Advisor Trainee is required to complete the Certified Financial Planner (CFP) Investment Planning Course and the Financial Planning course.
- Development Assessment: A Financial Advisor Trainee must complete ongoing Developmental Assessments throughout the training. In preparation for the assessment, the Financial Advisor Trainee studies a variety of topics and may participate in developmental activities in the areas including but not limited to Merrill Lynch strategy, products & services, wealth management process, desktop technology, marketing consultative sales skills and investment financial planning knowledge
- Performance Requirements: A Financial Advisor Trainee is expected to meet the performance and development requirements of the PMD Program and transition to a full Financial Advisor at the conclusion of the PMD Program.
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