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Registered Representative. Cover Story - “Indentured Servitude.” Pamela Savage Forbat. November 1997. Many agreements only hold terminated brokers liable for repayment if they’ve been terminated for cause. Merrill Lynch’s training agreement, though, also says a broker who “provokes the termination of employment” must pay back training costs. “Merrill Lynch will go after someone for repayment even if they’re terminated for poor production,” says Rick Peterson, a Houston recruiter.
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