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Does anyone have some good advice on the pmd program?

Veteran

Ruben Barrera Fayetteville, NC

I am very interested in making a career change into the Financial Advisor position and have interviewed with a couple of firms. I'm currently being considered for the PMD program with Merrill Lynch, but have read a lot of bad reviews about the program. Does anyone have some good advice on the pmd program?

12 May 2016 3 replies Career Exploration

Answers

Advisor

Eric Ahlness Saint Paul, MN

Ruben, I cannot speak to the specifics of the PMD program that you are asking about but have some considerations for you.
First, the financial services industry does a lot of hiring for entry level advisors. As such, I expect with a little research you may be able to find other programs that provide the same training that you need to reach your goals. I don’t know Merrill Lynch’s program and am not saying anything bad about it. I am just saying there are many options out there. I often tell service members that they need to prepare for their first post-military job just like they prepared for their last deployment. If you are not investing at least as much time as you studied the deployment language on learning the language of business then you are selling yourself short. If you are not investing as much time learning about the industry and companies that appeal to you as you spent training for the deployment, you are selling yourself short. Companies want to hire veterans but sometimes the communications and culture gap is too wide. Additionally, the military is increasingly providing opportunities for service members to gain professional civilian certification prior to discharge. You should look into what your service offers in this area. It may give you a leg up on the competition.
Second, I believe it is very important to find a company that fits you. 50% of veterans leave their first civilian job/company within the first 18 months. I think a large reason for this is that veterans want to do a job but do not look closely enough at the values and culture of the company where they are working. As such, even though the work and the compensation may be satisfactory, they are turned off by the conflicting values of the company and they leave. So more importantly than the reputation of the training program is how do you feel about the company? If you love the company, you will get over temporary issues within a training program.
Good luck on your efforts. I was fortunate to find a company, in Cargill, that matched my “Army values” which helps me make it over the tough times and has secured my loyalty to the company. I hope you find the same.

13 May 2016 Helpful answer

Advisor

Kit Lancaster Chicago, IL

Ruben,

The answers above provide some great advice. To add to that I have some questions.

1) Would you like to speak to a fellow veteran in the PMD program? I know a veteran who just started.

2) Why do you want to be a financial advisor?
3) Do you currently have an advisor or friend who is an advisor?
4) Where do you want to live when you ETS?
5) Are you aware of your projected starting salary as a financial advisor?

If you have time for a quick call later this week I would be interested to learn more about you and where you want to go next. I have a fairly deep network of advisors at several different firms around the country to include Merrill. I would be happy to make some introductions. I recommend conducting a market survey to help you find the answers to your questions.

Kit Lancaster
312-344-0999
james.kit.lancaster@gmail.com

Advisor

William Orr Greenwood, IN

Like Eric, I found my fit in a Financial Services firm that aligned with my USMC values. I came over to Edward Jones via the FORCES program and I haven't looked back. The firm culture is unbelievably supportive and the job is incredibly rewarding. Check us out at: http://careers.edwardjones.com/explore-opportunities/new-financial-advisors/support/military/index.html

I'm not sure how the ML program works, but EDJ did not require me to come with a book of leads. The firm teaches you how to generate your own clientele and build relationships. What is it about the ML program that concerns you?

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