Dollars leaving Merrill advisors for Merrill Edge fell by 22.5% last year while loans jumping to the bank skidded 93%.
After 13 years, Xerxes Mullan leaves Private Banking and Investment Group with five associates to build a family office for entrepreneurs.
Riley Etheridge, who ran client sales, product and advisor training areas under former head John Thiel, retires, along with Sieg’s older brother.
Despite a major slimming-down of its foreign client business, Merrill nabbed an advisor managing $200 million in assets for non-U.S. clients.
Lifelong 49-year employee in California claims his dismissal last year for “selling away” was “ruse” to get his accounts after he refused to retire.
Firm uses likely delay in fiduciary rule’s effective date to consider allowing commission-based IRAs in “limited” situations.
UBS Financial Services and other firms still face over 1,000 claims, according to study from expert-witness firm.
Six went Friday to Morgan Stanley, which has flaunted a less restrictive retirement account policy for brokers than has Merrill.
Brokers to work with 51-year veteran in succession move.