Merrill Lynch has canceled all broker incentive trips through the end of October.
A spokesperson says brokers and executives have told the firm they are uneasy about traveling outside the country following the Sept. 11 terrorist attacks.
“We got a very strong indication from people in the field that they would rather not fly right now,” says Merrill spokesperson Eddie Reeves.
Canceled outings include a Masters contest trip to Jamaica scheduled in October. A management meeting scheduled in Puerto Rico during the month of October also was called off.
Reeves says the cancellations were not influenced by economics: The firm will save “little or no money” as a result of the cancellations because it is allowing brokers to keep the airplane tickets they already have, plus it is awarding points to their Visa Signature cards and issuing travel vouchers to brokers who weren’t ticketed yet.
The firm’s trip schedule from November forward has not changed, Reeves says.
Meanwhile, A.G. Edwards says the firm has not made any changes to its broker incentive trip calendar this year. Several other major firms did not immediately return calls.
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