Bank of America
Merrill Edge Clients Briefly Lost Account Access Wednesday
Bank of America’s Merrill Edge was the second brokerage firm to suffer client account access issues on Wednesday.
Virus Relief: Merrill Removes Mid-Year Test for Team Payouts
Due to the crisis, broker teams will not have to enlist 30% of households in bank and advisory accounts by June 30 to qualify for enhanced payouts.
Merrill Teams, Including One Led by 50-Year Vet, Change Jerseys
Rhode Island broker believes he can more easily transition his book to his son at Ameriprise, while colleagues in Alabama and California take Wells Fargo deals.
Week’s Exodus at Merrill Yields Hires at RayJay, Rockefeller and Stifel
Advisors who managed about $1.1 billion left in the past seven days in California, Colorado and Illinois.
Merrill Private Hires $15-Million BNY Mellon Team
Four-advisor team overseeing $2.3 billion for business owners and private executives take the bid, shifting from salary-plus-bonus to grid-backed payout.
Bank of America Eyes Growth in Employee Benefits as Morgan Stanley Ramps Up
Bank of America Corp. is seeking to become a one-stop shop for employee benefits.
Merrill Elevates Market Manager to Sieg’s Inner Circle
Craig Young, who has been running branch complexes in California and New York, takes new “national business development” role promoting book-growth incentive programs.
Schwab to Pay for New Accounts, Customize Asset Management Products
To counter competitors, Schwab will offer premium rates on cash and develop “direct” indexing products and special programs for high-net-worth clients, CEO says.
Fieldpoint Hires $1.2-Billion-Asset BofA Private Bank Team in Florida
Wealth Management boutique short-stopped a plan by a team of former U.S. Trust bankers to form their own RIA, convincing them to join its ranks on Tuesday.
Merrill Brokers Added More than 40,000 New Accounts in 2019
Fourth-quarter net income at Bank of America’s global wealth and investment management division fell, but client assets rose to a record $4 billion.
Merrill Survives Former Wealth Exec Sepe’s Racketeering Claims
Brian Sepe, a former divisional and Latin American wealth head at Merrill, argued that firm’s mortgage fraud during the financial crisis eviscerated the worth of his company stock and options.
