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
Tagged with "Merrill Lynch"
Three Large Brokerage Networks Offering Significant Recruiting Bonuses in 2019
Posted on March 1st, 2019 at 1:49 PM
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.
Bank of America Continues to Rebrand Merrill Lynch
Posted on February 28th, 2019 at 10:31 AM
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.
Regional Broker-Dealers are Making a Comeback
Posted on January 16th, 2019 at 3:19 PM
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.
Former NBA No. 1 Draft Pick Files Lawsuit Against Merrill Lynch and Advisor
Posted on December 19th, 2018 at 5:09 PM
Former National Basketball Association player and 2001 first round draft pick, Kwame Brown has filed a lawsuit in California Superior Court in Los Angeles against Merrill Lynch, Bank of America and his former adviser, Michelle Marquez, alleging fraud, breach of fiduciary duty and breach of contract.
Independent Broker-Dealers Continue to Register Large Asset Growth
Posted on December 12th, 2018 at 10:08 AM
According to a recent report issued by industry consultant Cerulli; independent broker-dealers (IBDs) have posted the highest compound annual growth rate in the last five years in comparison to any other type of broker-dealer.
J.P. Morgan Seeks Restraining Order Against Advisor Who Left for Merrill
Posted on October 16th, 2018 at 10:40 AM
J.P. Morgan Securities is seeking a temporary restraining order against an advisor who defected for Merrill Lynch.
According to Industry for Broker Recruiting, Merrill Lynch and Wells Fargo Advisors Likely to Exit the Protocol
Posted on June 27th, 2018 at 8:51 AM
Merrill Lynch last year declared its intention to stay in the Protocol for Broker Recruiting even after both Morgan Stanley and UBS had withdrawn from the Protocol. However, that may change. There is now speculation that Merrill Lynch will leave the Protocol and that Wells Fargo likely will follow.
Bank of America’s Merrill Lynch Unit to Pay a $15.7 Million Settlement for Failing to Properly Supervise Mortgage Bond Transactions
Posted on June 18th, 2018 at 4:28 PM
Bank of America Corp.’s Merrill Lynch unit has agreed to pay a total of $15.7 million to settle a lawsuit filed by the SEC over allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds.
Merrill Lynch Terminates Boston Broker Over Expense Account Filing
Posted on January 11th, 2017 at 9:04 AM
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Merrill Lynch has discharged a broker with $1.4 billion of client assets for improperly submitting personal expenses for reimbursement, resulting in management’s loss of confidence.