The Rise. The Fall. The Recovery. | Jeremy McGilvrey


“The young do not know enough to be prudent, and therefore they attempt the impossible – and achieve it, generation after generation.” ~Pearl S. Buck, Pulitzer Prize recipient, Nobel Prize in Literature. Attempting the impossible – and achieving it perfectly describes Jeremy’s career in the finance industry. Barely 20-years-old he became a financial advisor with Edward Jones Investments. Shortly thereafter, he was traveling to the firm’s headquarters in St. Louis, Missouri on a regular basis to train their investment advisors in his role as a “Visiting Mentor.”As Jeremy McGilvrey’s success grew, so did offers from virtually every major financial planning firm. Against the better judgment of many of his close friends at Edward Jones, he was persuaded to join forces with Merrill Lynch as a vice president to their High Net Worth Division. However, before long, Merrill’s philosophy of maximizing commissions instead of maximizing returns began to make Jeremy feel uncomfortable. Furthermore, consistently being forced to sell clients what they want, rather than what they need did not sit well with him either. Eventually, these malevolent tactics drove him away.Despite his disappointment with Merrill Lynch, Jeremy McGilvrey had an intense passion for the finance industry (which he still has), and he had developed a substantial client base. Jeremy wanted to remain a financial advisor; he just wasn’t certain where. He began interviewing with several prominent advisory firms and decided to take a position with Bank of America’s Private Client Group in Austin, Texas.
The arrangements for a seamless transfer to the bank were planned so that his move could be implemented without Jeremy losing any of his clients. Nonetheless, the night before he was to make the transition, he had a conversation with his father and the advice he was given gave him second thoughts.


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