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Merrill Lynch Bans Trainee Cold-Calling, Shortens Development Program

Brian Ach/AP Images for Bank of America Merrill Lynch This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Merrill Lynch Wealth Management is overhauling its storied financial-advisor training program.  The firm said it would ban cold calling, shorten the program, and aim for high graduation rates.  Merrill paused trainees cold calls last year after a spate of outreach-related violations. Bank of America s wealth-management business is overhauling its sprawling training program for financial advisors, including instating a cold-calling ban. This ends nearly a year of uncertainty for about 3,000 trainees who were told last summer that a pause on cold-contacting prospective clients would be temporary.

Merrill Lynch Financial Advisor Trainee Program Still in Outreach Pause

ablokhin/Getty Images Issues in Merrill Lynch s massive pipeline for financial advisors are weighing on trainees morale. Advisors in training have faced months of mixed messaging about prospecting, people say. Bank of America s wealth management unit is among the largest in the US, overseeing trillions. Restrictions on Merrill Lynch Wealth Management financial advisors in training are stretching into a ninth month and have shown no signs of lifting. An unprecedented pause on reaching out to prospective clients has hurt trainee morale and added frustrations in a program where building a book of business is critical to success. The firm has fired a handful of trainees for violating the terms of the pause since it went into effect last July.

StandUp Wireless Helps Customers in Texas Devastation

StandUp Wireless Helps Customers in Texas Devastation The Lifeline wireless company gives unlimited talk/text and 4.5 GB of data to Texas customers during severe winter storms News provided by Share this article Share this article NORCROSS, Ga., Feb. 19, 2021 /PRNewswire/ StandUp Wireless announced today that it will give all Texas customers unlimited talk and text and 4.5 GB of data for 30 days in response to the devastation caused by severe winter storms. StandUp Wireless customers will be able to connect to essential services and loved ones as they continue to navigate extreme weather conditions without worrying about the minutes on their cellphone plan.

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