Bank of America
Merrill Hires $2-Mln JPMorgan Bank Team in Texas
The new recruits mark a rare split from Merrill’s retreat from veteran broker recruiting over the past three years.
Merrill Loses $2.8-Mln Producer to UBS, $2-Mln Team to Independence
Advisors in Louisiana and New Jersey left Merrill after about two decades.
Ex-Merrill Broker in Kentucky Sentenced to Eight Years
Former broker pled guilty to stealing roughly $4.2 million over 10 years.
Merrill’s Sieg: Net Income to Fall 30% in 2020
In discussing Merrill’s 2021 compensation plan with advisors, Wealth Management President Andy Sieg explains that rock-bottom rates constraining profits require vigilance.
Wells Fargo Lures Two Teams from Same Merrill Branch in N. California
Within three weeks, a four-broker team producing $4.1 million and a three-broker, $3.6 million team left Merrill in Mill Valley for Wells Advisors in nearby San Rafael.
Merrill, Fired Broker Consent to $24 Mln After Related $40-Mln Settlement
Firm agrees to pay $26.3 million in fines and restitution to customer of ex-broker Charles Kenahan for unauthorized and excessive trading allegations.
2021 Comp: Merrill Keeps Grids Intact, Eliminates Pay on Small Accounts
Merrill maintains growth requirements at reduced Covid level, relaxes team hurdle, keeps grid payouts steady, but cuts pay on client cash and eliminates it on accounts under $250,000.
UPDATE: Bank of America Says Access to Merrill Accounts Has Been Restored
Brokers Tuesday morning say they cannot get confirmations of trade executions or complete wire transfers, and self-directed Merrill Edge customers said they can’t access their accounts.
First Republic Lands $8.7 Million Merrill Private Wealth Team
Group in Los Angeles led by John McNamee is at least the third multi-million Merrill team to join the San Francisco bank since August.
Wirehouse Wars: Merrill Loses Young NYC Star to Morgan Stanley
James Taylor, a top Next-Gen adviser who Merrill had tapped as 2021 head of its advisors’ “council to management,” took his 13-person team to Morgan Stanley on Friday.
Merrill Taps Florida Manager Steve Alch for Southeast Division
Nineteen-year Merrill lifer prevails over 13 others in competition to manage 4,400-employee, $2.7 billion wealth management region, company said.
