Tagged with "Merrill Lynch"

Former Merrill Lynch Adviser Barred by SEC

Posted on March 20th, 2020 at 2:02 PM
Former Merrill Lynch Adviser Barred by SEC

The Securities and Exchange Commission (“SEC”) has barred Marcus Boggs.  Boggs had previously been terminated from Merrill Lynch and barred by the Financial Industry Regulatory Authority (“FINRA”).      

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Merrill Lynch Pays $40 Million to Settle Broker Churning

Posted on January 7th, 2020 at 1:23 PM
Merrill Lynch Pays $40 Million to Settle Broker Churning

Churning allegations involving a former Bank of America’s Merrill Lynch (“Merrill Lynch”) broker have cost the wirehouse $40 million, and it still faces another costly complaint from another customer related to the same broker.

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SEC charges Chicago Financial Adviser with $1.7 Million Fraud

Posted on August 30th, 2019 at 3:57 PM
SEC charges Chicago Financial Adviser with $1.7 Million Fraud

The Securities and Exchange Commission ("SEC") charges Marcus Boggs, a former Chicago investment adviser at the Chicago office of Merrill Lynch, with stealing over $1.7 million from at least three of his clients.

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Merrill Lynch Team Joins Sanctuary Wealth

Posted on June 19th, 2019 at 4:45 PM
Merrill Lynch Team Joins Sanctuary Wealth

Wirehouse Merrill Lynch has lost another team of financial advisors to Sanctuary Wealth, an independent broker-dealer in Indianapolis led by a former Merrill regional manager.

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Traditional Brokers’ Compensation Models May Be Threatened As Wirehouses Hire Salaried Workers

Posted on June 5th, 2019 at 4:57 PM
Traditional Brokers’ Compensation Models May Be Threatened As Wirehouses Hire Salaried Workers

According to an InvestmentNews article, Bank of America’s recent decision to transfer 300 Merrill Edge advisors into its Merrill Lynch Wealth Management branch offices may be a turning point in the evolution of compensation for financial advisors at major brokerage firms.

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HighTower Advisors to Exit Broker Protocol

Posted on May 14th, 2019 at 4:02 PM
HighTower Advisors to Exit Broker Protocol

HighTower Advisors has announced that the $50 billion RIA will exit the Broker Protocol. HighTower’s exit follows the departure of Morgan Stanley and then UBS in late 2017.

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Merrill Lynch to Expand 401(k) Fiduciary Services

Posted on April 11th, 2019 at 4:47 PM
Merrill Lynch to Expand 401(k) Fiduciary Services

Merrill Lynch has announced that it will expand fiduciary services for 401(k) clients by allowing more financial advisors to manage retirement plan menus on a discretionary basis

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Three Large Brokerage Networks Offering Significant Recruiting Bonuses in 2019

Posted on March 1st, 2019 at 1:49 PM
Three Large Brokerage Networks Offering Significant Recruiting Bonuses in 2019

As Merrill Lynch, Morgan Stanley and UBS Financial Services, Inc. have recently pulled back their recruiting efforts in order to focus on growing assets and revenue internally, firms such as Wells Fargo Advisors, LPL Financial and Cetera Financial Group are seeking the opportunity to gain ground by offering attractive recruiting bonuses.

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Bank of America Continues to Rebrand Merrill Lynch

Posted on February 28th, 2019 at 10:31 AM
Bank of America Continues to Rebrand Merrill Lynch

Bank of America, which bought the wirehouse, Merrill Lynch during the financial crisis of 2008, has announced that it has plans to rebrand its wealth management operations by dropping “Lynch” out of its name.

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Regional Broker-Dealers are Making a Comeback

Posted on January 16th, 2019 at 3:19 PM
Regional Broker-Dealers are Making a Comeback

Once overlooked compared to the registered investment adviser and the independent broker-dealer market, regional brokerage firms quietly are making comeback due to recruiting gains at the expense of wirehouses.

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