Bank of America is planning to hire 2,000 retail brokers this year. The bank would like to replenish the ranks of Merrill Lynch. Thousands of brokers left the firm or lost their jobs after merging with Bank of America last year. Most of the new employees will be inexperienced, fresh faces. Bank of America will use Merrill’s training program for new brokers. This method of bolstering Merrill’s ranks is less expensive than recruiting established brokers.

Merrill Lynch retail brokers will work at the grass roots level calling and advising clients on financial matters. These positions require a working knowledge of many markets including stocks bonds, commodities, currencies and funds.