Should Merrill Advisors Be Insulted Or Grateful?

After I blogged about a recruiting firm claiming that dozens of Merrill Lynch Financial Advisors feel "insulted" by the retention packages being offered by Bank of America, I got a lot of email.

Here's a sampling of the "you've got to be kidding me they're lucky to have a job" emails.

From Andrew H: "Those advisors ran the company into the ground so bad they had to be bailed out...Because Bank of America is willing to keep them on, they should be damn grateful. Realistically, if they were as good as they think they are then why did Merrill Lynch fail?"

From Peter D: "Don't these people know they are lucky? By pure luck, their rapidly sinking ship was bailed out and they get paid retention bonuses, without even changing desks!"

Suzanne M. "If they quit and can't find a decent job, I will be giddy with laughter. 'Yes sir, you may take my McDonald's order!!'"

From Jim A.: "I would like them to know that a lot of us are insulted at the results they produced for clients. I hope the firms that are hiring are smart enough to realize that the supply of advisors is growing and the market for advisors will probably shrink. Meaning that, like my investments, they are not worth what they were a few months ago."

Dan K: "I would rather be getting a paycheck than looking for a paycheck!"

Lynne K: "I think this group of Financial Advisers is out of touch with the real world. The rest of the country (taxpayers) has just come to the aid of their industry and they are whining about their deal. I won't even mention the fact that most taxpayers have lost substantial amounts of our nest eggs which was entrusted to this group of greedy clowns...Get Real"

Utpal J. writes from India: "You died because of them. The globe is financially broke and insane due to their wisdom and honesty."

Richard B. signs himself "P***ed Off in Canada": "I must say that I almost fell off my chair. Not only did these 'advisors' lose what was my life savings due to poor advising, they don't seem to get the fact that the entire financial system has changed and the days of the advisors being able to afford 3 yachts are over...Most people nowadays will be happy to have a job, let alone an increase in pay. We are teetering on recession and they are threatening to leave? I say go ahead."

Joseph D: "I think these financial advisors should be fired. I would play hard ball with anyone from Merrill Lynch if it were up to me. After all, they were one of the companies that got us in this mess with Credit Default Swaps and no-doc loans."

Andrew and Laura W: "I would be interested to see how much value they added for their clients rather than what they hope to make in upfront and trailers. Please find me a couple out financial advisors out of the 16,000 who gave better advice than "think long term investing - the market always comes back"...Let them test the market and see the reception!"

OUCH! Coming up next, emails from the other side of the spectrum, those supporting--and warning--the Merrill Financial Advisors.

Questions? Comments? Funny Stories? Email