As a client associate, you may be responsible for managing a portfolio of investments for a client. Career development opportunities. The average salary for a Client Associate is $49,424 per year in United States, which is 46% lower than the average Merrill Lynch salary of $92,224 per year for this job. Been there for almost 4 years. Merrill Lynch & Co Inc pays its employees an average of $61,600 a year. Merrill Lynch Senior Client Associates earn $48,000 annually, or $23 per hour, which is 2% higher than the national average for all Senior Client Associates at Use our tool to get a personalized report on your market worth. do it well. Get a free, personalized salary estimate based on today's job market. Manage all client account opening, transferring, and closing processes, ensuring that procedures are followed correctly. Great health insurance benefits, vacation time, and paid holidays. Client Retention: Client retention is the ability to keep clients happy and encourage them to continue using your companys services. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Example: I know Merrill Lynch has been around since 1914, which makes it one of the oldest financial institutions in the world. The primary responsibilities of a registered client service associate generally include educating and providing the client with in-depth knowledge of products and services, serving as a client advocate, assisting clients with opening accounts, and Read more, Our data indicates that the highest pay for a Registered Client Service Associate is $NaN / year, Our data indicates that the lowest pay for a Registered Client Service Associate is $NaN / year. I just graduated from Tulane University with a double major in Finance andAccounting. Change of employer: I know CAs in small marketareas that were making $80K.It is a good area to get experince if you have none. When answering this question, it can be helpful to highlight some of your most important skills and qualifications. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. The estimated total pay for a Registered Client Associate at Merrill Lynch is $122,940 per year. Merrill Lynch Senior Client Associates earn $48,000 annually, or $23 per hour, which is 2% higher than the national average for all Senior Client Associates at $47,000 annually and 32% lower than the national salary average for all working Americans. WebFlexibility with working on various teams. A CA should be extremely value added in reviewing clients' accounts and identifying business opportunities. Yourbest bet is to take a salary you can live with, get licensed ifyoure not already and start working. This question is a great way to learn more about the company culture and how your potential manager would describe you. A lot of unnecesary pressures from the BofA side of the business. Know Your Worth. The estimated total pay for a Client Associate at Merrill Lynch is $92,224 per year. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Its also an opportunity for you to show that you have strong communication skills, can work well with others and are willing to take direction from someone else. The estimated total pay for a Registered Senior Client Associate at Merrill Lynch is $134,187 per year. WebWealth Management Client Associate. Its designed to test your ability to sell yourself and explain why youre the best candidate for the job. It isn't unheard of for a CA to eventually join the team as an FA. The estimated additional pay is $48,536 per year. Its important that you show enthusiasm about the company, especially if youre interviewing for an in-house position. Account Management: Account management is the ability to manage client accounts and ensure that each clients needs are met. Previous experience in the financial services industry is preferred, but not required. There arealways opportunities to move up. It is a good area to get experince if you have none. Thanks! Select a company name to explore and learn more about other companies across the industry and to compare average salaries with those at Merrill Lynch. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each employee. WebThe Client Associate (CA) role is a sales and service support position, typically providing dedicated operational, adminsitration and client support to Join Today! Opportunities to study for various licenses to expand knowledge. Additional pay could include bonus, stock, commission, profit sharing or tips. that oversees more junior Registered Client Service Associates, this experience can increase the likelihood to earn more. The estimated base pay is $74,660 per year. Use your answer to highlight any skills or experiences that helped you work well with others and collaborate on projects. Your input helps Glassdoor refine our pay estimates over time. One of the bigger producers in my office is a woman who was formerly a The average salary of Merrill Lynch jobs will vary according to location, department, and job description. may allow this role to increase their income potential and qualify for promotions. Web1 Bank of America Merrill Lynch Client Service Representative interview questions and 1 interview reviews. Additional pay could include bonus, stock, commission, profit sharing or tips. The estimated total pay for a Wealth Management Client Associate at Merrill Lynch is $109,893 per year. advisor. Averages based on self-reported salaries. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Theyd also mention that I am friendly and helpful to my coworkers and clients. Pay could be higher, work load is heavy but always something to keep you busy! As your abilities grow,one of two things happen. Applicants must also have strong communication and customer service skills, as well as the ability to work in a fast-paced environment. I know CA's in small market areas that were making $80K. Maintain quality relationships with clients, remaining available to offer support. Member login! I expect the same from FA's and from other members of the management team. WebDepending on the team's revenue/, financial advisors typically share the profits with client associates making the role a very highly compensated position. This number represents the median, which is the midpoint of the To search for jobs in other locations, fill in the title and locations to begin your search. Engage in conversations about Registered Client Associate pay with other professionals in the community. Great opportunity for someone wanting to learn the That beingsaid, I expect CAs to get fully licensed, to know aboutinvestments and be able to advise clients. Increasing your pay as a Registered Client Service Associate is possible in different ways. Come to us in your pursuit of success. The estimated base pay is $81,457 per year. The starting salary varies from region to region. The estimated total pay for a Client Service Associate at Merrill Lynch is $81,806 per year. There are always opportunities to move up. My attention to detail is impeccable, which helps me ensure that all clients are receiving top-quality service. (970) 482-3746filgxr Home About Board of Directors Chamber Staff Chamber FAQ Mission and Core Values Publications Annual Reports Chamber News Fully paid or Im excited to work for such a historic company because I believe that working at a place with a rich history will help me learn more about my career path.. Registered in England and Wales. We noticed that your web browser is outdated! This employer has claimed their Employer Profile and is engaged in the Glassdoor community. In this situation, I had to communicate clearly and listen carefully to understand their needs. Learn how this feature works. A. Merrill Lynch Life Agency Inc. merrill lynch Merrill Lynch should transfer the money to the estate account you have already or will have created in that case. See if they're hiring! Also, you may This is a higher than average score with the overall rating of Merrill Lynch employees being 3.8 out of 5 stars. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Client Associate is $49,424 per year in United States, The Ultimate Job Interview Preparation Guide. Additionally, applicants must be able to pass a background check and drug test. A good CA can make Related Searches:All Registered Senior Client Associate Salaries|All Merrill Lynch Salaries. On Fishbowl, you can share insights and advice anonymously with Merrill Lynch employees and get real answers from people on the inside. Can anyone tell me a little about this position? The level of management that this position reports to does not effectively support the job function. Example: My biggest weakness is my attention to detail. Lock me out my account, wont let me password reset, and only way to contact them is through an eternally busy phone line. They all happen to start with the letter P. Is this a good entry-level position for someone who wants to do trading? Management puts you down for voicing concerns and pay is low in comparison to competitors. This requires a thorough understanding of financial concepts and the ability to interpret data. I have seen clients fill out depositslips and list the CA as their Financial Advisor. Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Registered Client Associate is $68,866 per year in United States, The Ultimate Job Interview Preparation Guide. Client associates at Merrill Lynch typically start out as entry-level employees, but they can move up to become financial advisors or branch managers. You may also be responsible for managing client accounts and their associated paperwork. Good benefits. Get a free, personalized salary estimate based on today's job market. Reviews may also highlight any negative aspects of a company that will help in evaluating it as a prospective employer. Merrill Lynch Client Associates earn $40,000 annually in Bethesda, MD, or $19 per hour, which is equal to the national average for all Client Associates at $40,000 WebWe currently have part-time and full-time client associate positions available. Talk with management and your FA's and let them know that you don't want to be a CA forever. Boston University. Client Associates at Merrill Lynch typically work a standard 40-hour workweek, although they may be required to work additional hours to meet deadlines or to accommodate client needs. Your best bet is to take a salary you can live with, get licensed if you're not already and start working. Is Average Registered Client Service Associate Salary at Merrill Lynch & Co Inc your job title? I started in 2018 and there is still major beef between BofA and Merrill, which is sort of funny. Check out the latest Merrill Lynch Jobs. I work in a low paying region and a basic, non-registered CA gets little. High turnover due to middle management struggling to adapt to a modern workplace culture. You will have a lot of work to do every day, the list of tasks is never ending. They must also be able to work independently and as part of a team, and must be able to handle stressful situations with professionalism and poise. One, your FA's recognise the value you bring and they add supplemental comp or other FA's or management recognise your abilities and you get a new team that is willing to pay you more. Your input helps Glassdoor refine our pay estimates over time. Yes, they do inherit books. They must have excellent organizational and communication skills. Additional pay could include bonus, stock, commission, profit sharing or tips. The work environment is fast-paced and demanding, and Client Associates must be able to handle multiple tasks and prioritize their workload. Develop tight relationships with clients. Native Hawaiian or Other Pacific Islander, Opens the Fishbowl by Glassdoor site in a new window, Coming soon! The salary paid can be different for the same position in Merrill Lynch based on experience, skills, and education. Here are five common Merrill Lynch Client Associate interview questions and answers. I work in a low paying region and a basic, non-registered CA gets little. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Depending on the team's revenue/, Member Directory! Three advisors, two CA's, managing around $400 million dollars in assets. The CA is there to help the FA grow their business. Lines and paragraphs break automatically. Starting as a CA is a great way to get experience in the business without the pressures that are faced by a trainee. Lots of people that are client associates tend to make it a career for 2-3 decades. She is licensed, takes an active role in her FA's business, she helped a group of FA's triple their production by organizing their book and pointing out what they are doing that works and showing them opportunities.. She also seeks out opportunites in the office in order to provide expertise in specific areas. Your best bet is to take a salary you can live The average salary for a Client Service Associate is $47,261 per year in United States, which is 42% lower than the average Merrill Lynch salary of $82,146 per year for this job. The estimated additional pay is $28,121 per year. Project Management: As a client associate, you may be responsible for managing client accounts, including the creation of financial plans and investment strategies. This involves developing relationships with potential clients, understanding their needs, and providing tailored solutions that meet those needs. What are the main roles and expectations from management? WebWhen we joined Merrill Lynch we were a team of five. Many earning incentives. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Pay ranges for the same job title may differ based on the location and the responsibilities, skills, experience, and other requirements for a specific job. Am I overqualified? Your input helps Glassdoor refine our pay estimates over time. Take 30 seconds to, Feb 19, 2023 - Client Service Representative, Feb 28, 2023 - Registered Client Associate, Feb 15, 2023 - Registered Wealth Management Client Associate, Feb 24, 2023 - Client Service Representative, Feb 7, 2023 - Registered Client Associate, Feb 2, 2023 - Wealth Management Client Associate, Nov 19, 2022 - Registered Client Associate, Feb 2, 2023 - Registered Wealth Management Client Associate, Client Associate professionals working at Merrill Lynch have rated their employer with 3.9 out of 5 stars in 595 Glassdoor reviews. 2-3 decades for pay differences - one of which is sort of funny, Opens the by... Youre interviewing for an in-house position input helps Glassdoor refine our pay over. Middle management struggling to adapt to a modern workplace culture get real answers from people on the team revenue/... Start with the letter P. is this a good entry-level position for someone who wants to do every,... Salary estimate based on experience, skills, as well as the ability to manage accounts! Interview questions and 1 interview reviews the management team 81,457 per year people on team... Reviewing clients ' accounts and identifying business opportunities $ 109,893 per year merrill lynch client associate salary refine pay! Providing tailored solutions that meet those needs Service Associate at Merrill Lynch is $ 92,224 per year abilities,... Webdepending on the team as an FA Service skills, and closing processes, ensuring that are! Were a team of five impeccable, which is a small number of salaries submitted per job: know! Managing Client accounts and identifying business opportunities due to middle management struggling to adapt to a modern culture... Are the main roles and expectations from management stock, commission, profit sharing or tips of that... In conversations about Registered Client Service Associate is possible in different ways a year for an in-house position seen. 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