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Registered Rep. July 18, 2007 Kevin Burke |
Merrill Reports Strong Revenues, Adds 270 Advisors Merrill Lynch's retail brokerage arm turns in another strong quarter, as fee-based revenue continued to climb to record levels.  |
Registered Rep. July 1, 2005 Kristen French |
Demotion or Promotion? When Merrill Lynch announced that it would replace James Gorman, head of the firm's brokerage group, with his boss, Robert McCann, tongues wagged: Was Gorman simply moved into a sinecure? Put out to pasture? Or was he moved into a real post with real responsibilities?  |
On Wall Street April 1, 2010 Howard J. Stock |
Back Office Move Has Advisors Up In Arms -- Some Bolt Questions surround what will happen to BAI clients when Merrill moves their accounts from National Financial to Merrill Lynch.  |
Registered Rep. September 1, 2005 Kristen French |
Gorman to the Rescue? Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit.  |
Registered Rep. September 27, 2002 David A. Gaffen |
Without Mentioning Schwab by Name, Merrill's Gorman Bites Back Speaking at SIA's Retail Management Conference in Chicago, James Gorman, president of Merrill Lynch's private client group, directed blunt comments at those who imply that Merrill and other big wirehouses are "boiler rooms."  |
Registered Rep. July 1, 2006 Kristen French |
James Gorman's First Marking Period In his first four months as head of Morgan Stanley's brokerage unit, James Gorman wasted no time showing that a new regime was in place. But he hasn't convinced all the troops that it's worth sticking around to see how his turnaround plans play out.  |
Registered Rep. March 23, 2006 Kristen French |
Merrill To Gorman: Quit Poaching Our Reps And BOMs Is James Gorman, the new head of retail at Morgan Stanley, brazenly poaching employees from his old firm, Merrill Lynch? A judge apparently thinks so.  |
Registered Rep. October 23, 2007 John Churchill |
Pre-Earnings Whisper Not Good for Merrill By announcing the likelihood of a multibillion-dollar write-down in its third quarter a few weeks ago, Merrill Lynch prepared investors for dismal earnings.  |
Registered Rep. August 13, 2007 Halah Touryalai |
Merrill Grabs Advisors Producing $5.5 million From Rival UBS Merrill Lynch won big last week in the aggressive industry-wide recruiting war for top advisors.  |
Registered Rep. August 25, 2006 Kevin Burke |
Merrill Fighting Back Against Recent Defections The recruiting war for top brokers remains fierce. The latest evidence of the fight to win million-dollar producers involves the industry's biggest firms.  |
Investment Advisor November 2009 Kathleen M. McBride |
Merrill's Big Plans The importance of culture at the organization is what Sallie Krawcheck spoke of at her first press conference as president of Global Wealth Management & Investment Management at Bank of America Merrill Lynch.  |
Registered Rep. September 10, 2009 Kristen French |
Gorman Grabs Morgan Stanley CEO Slot James Gorman, the former head of Morgan Stanley's retail brokerage division and now co-president of the firm, is slated to take over the CEO job in January, 2010.  |
Registered Rep. April 13, 2004 David A. Gaffen |
Merrill Reports Record Quarter Merrill Lynch reported earnings of $1.3 billion for the first quarter of 2004, a 95 percent increase from the same period a year ago.  |
Registered Rep. January 1, 2003 David A. Gaffen |
Merrill Takes it To the Bank One of Merrill Lynch's major initiatives in the coming year will be to continue to attract clients to the firm's expanded banking service, known as Beyond Banking.  |
Registered Rep. September 1, 2004 Will Leitch |
For Advisors, 2003 Was a Better Year The fortunes of advisors took a turn for the better in 2003, according to the annual report from the Securities Industry Association.  |
Registered Rep. June 6, 2005 Kristen French |
Gorman's New Job at Merrill: Demotion or Promotion? The leadership change was welcomed by brokers but is unlikely to shake things up at the brokerage unit.  |
Registered Rep. March 16, 2006 Kristen French |
Gorman Streamlines Morgan, Brings on Merrill Friends In his first step as head of retail brokerage at Morgan Stanley, James Gorman has streamlined the firm's regional office structure -- reducing regional offices to four from eight and cutting out one layer of management.  |
Registered Rep. May 1, 2004 David A. Gaffen |
Mother Merrill's Extreme Makeover A 12-year veteran of Merrill Lynch has noticed a pronounced improvement over the years in the way clients perceive him and his colleagues.  |
Registered Rep. February 2, 2006 Kristen French |
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest.  |
Registered Rep. March 16, 2012 Kristen French |
Due Diligence: Merrill Cost-Cutting Centers on Client Segmentation, Less Bureacracy Merrill Lynch financial advisors can expect Bank of America cost-cutting to take the form of greater client segmentation and reduced bureaucracy, said John Thiel of Merrill Lynch  |
Registered Rep. October 28, 2015 |
Merrill Lynch: A Simple and Streamlined Approach Merrill Lynch designed Merrill Lynch One, a multi-year, $100 million project that brought together five disparate money management platforms, each with their own fee structure, enrollment process and website.  |
Registered Rep. June 1, 2010 John Aidan Byrne |
Bank of America Ramps Up Online Brokerage Bank of America is making a push into electronic brokerage services, a menu that includes free online trading and a new platform called Merrill Edge, set to debut in late June. Some say the new services will steal business from Merrill advisors.  |
Registered Rep. November 14, 2008 |
Update: 6,200 Merrill FAs Sign BofA Retention At Deadline Merrill says that only about half of the firm's nearly 17,000 advisors were eligible in the first place, and that they are responsible for about 75 percent of the firm's production.  |
Registered Rep. February 1, 2005 |
By the Numbers Top 10 Broker/Dealers, by Advisor Headcount: Merrill Lynch... Wachovia... Smith Barney... Morgan Stanley... etc.  |
Registered Rep. June 6, 2006 Halah Touryalai |
End of Settlement Talks Bring Students to Protest Against Merrill Lynch African-American college students protested in front of several Chicago-based Merrill Lynch offices one day after settlement talks between African-American reps who claim they were discriminated against and Merrill Lynch came to an end.  |
Registered Rep. March 30, 2006 Kristen French |
Gorman Unrestrained Morgan Stanley retail chief James Gorman was freed by a New York State judge of the temporary restraining order that prevented him from raiding Merrill Lynch's brokerage ranks.  |
Registered Rep. April 15, 2009 Kristen French |
Bank of America Launches Client Referral Program It's one of several referral programs the bank is putting together as part of its integration with Merrill Lynch, including one that would offer leads from the commercial banking division to certain Merrill Lynch advisors.  |
Registered Rep. February 16, 2012 Kristen French |
Due Diligence: LaMothe Takes Swipe at BofA, Does 180 on Value of Bank-Brokerage Tie Ups Lyle LaMothe, former head of retail brokerage Merrill Lynch, claims that Merrill advisors are leaving the firm because they are being pushed to sell the whole bank instead of focus on wealth management and what's best for their clients.  |
Registered Rep. September 20, 2005 John Churchill |
Merrill Cutting Top Brass Merrill Lynch, famous for its seemingly continual reorganizations, is at it again. Specifically, the firm is firing half of its regional directors, sources say.  |
Registered Rep. September 15, 2008 Kristen French |
Merrill Lynch Sells Itself To Bank of America: Update 3 The biggest question, now that BofA has agreed to buy Merrill Lynch, is what Bank of America will do to hold onto Merrill Lynch's dearest asset -- its approximately 17,000 financial advisors.  |
Registered Rep. January 29, 2007 John Churchill |
Merrill Adds Another (Expensive) Piece Merrill Lynch announced plans to acquire First Republic Bank, a San Francisco-based private banking and wealth-management firm with $16.4 billion in assets under management, for $1.8 billion.  |
Registered Rep. November 6, 2008 |
Bank Of America To Sign Protocol, Herd Still Weighing Options Bank of America intends to sign the so-called "broker protocol," an agreement signed by most of the brokerage firms and RIAs stipulating what client information is acceptable for a departing financial advisor to take without getting sued by the former employer. But when?  |
Registered Rep. November 30, 2010 John Aidan Byrne |
Report: Merrill Edge Threatens Online and Regional Brokers, Not Its Own FAs A new report by research firm Aite Group this week, sees Bank of America Merrill Lynch's recently expanded online brokerage business -- as a serious challenge to the online business of powerhouses such as Charles Schwab and Fidelity Investments.  |
Registered Rep. April 27, 2011 Jerry Gleeson |
Merrill Lynch Names Thiel to Run U.S. Brokerage Thiel, 50, will replace Lyle LaMothe. LaMothe, also 50, said on March 4 that he would retire as head of Merrill Lynch U.S. Wealth Management.  |
Registered Rep. July 1, 2004 David A. Gaffen |
More Rich People to Serve According to the annual World Wealth Report, prepared by Merrill Lynch and Capgemini, the number of high-net-worth investors worldwide rose to 7.7 million, a 7.5 percent increase, or a net 500,000 people.  |
Registered Rep. October 30, 2003 |
Merrill CEO: We're Hiring Stan O'Neal, chairman and chief executive officer of Merrill Lynch, says the company is accelerating its hiring of financial advisors.  |
Registered Rep. September 15, 2005 John Churchill |
Merrill Gets Advest Cheap Merrill Lynch reportedly paid $400 million for the purchase of the Advest Group from AXA. The purchase includes the private client group, an asset management arm and a capital markets group. According to analysts, Merrill got the firm cheap.  |
Registered Rep. February 3, 2010 Kristen French |
Merrill Plans Trainee Hiring Spree Bank of America plans to rebuild its brokerage force in 2010 by adding rookie advisors rather than competing for talent in the industry's expensive recruiting war.  |
Registered Rep. April 20, 2010 Kristen French |
Merrill Won't Seek Growth Through Top Tier Advisor Hires Merrill Lynch plans to grow primarily by investing in current advisors and hiring rookies, said Merrill Lynch president of Global Wealth and Investment Management Sallie Krawcheck on Tuesday.  |
Registered Rep. September 14, 2005 John Churchill |
Mother Merrill Adopts Advest From AXA Merrill Lynch and AXA Financial, part of the French insurance giant AXA, announced today that Merrill would buy The Advest Group, AXA's full-service retail brokerage arm. Both firms' shares rose on the news.  |
Registered Rep. April 19, 2006 Kevin Burke |
Merrill's Brokerage Earnings Up Pretax earnings at Merrill Lynch's global private client group rose 27% in the first quarter ending March 31 to $646 million, up from $510 million in the same period a year ago. As might be expected, the division's headcount increased along with profits.  |
Registered Rep. November 9, 2009 Kristen French |
BofA Pressures Merrill FAs To Sell Bank Products Some of Merrill Lynch's 15,000 financial advisors are feeling pressure to sell parent company Bank of America's checking and savings account products -- and they're not happy about it.  |
Registered Rep. June 10, 2005 Kristen French |
On the (Acquisition) Warpath Merrill Lynch is hungry to buy companies.  |
BusinessWeek September 2, 2010 Moore & Mildenberg |
In the Battle of the Big Brokers, Merrill Is Winning Merrill Lynch earns higher profits with fewer advisers, thanks to a smooth integration with Bank of America and more cross-selling.  |
Registered Rep. February 1, 2011 |
Poll: Are Advisors Being Pressed to Peddle Bank Products? To what extent do brokers at Merrill Lynch, Wells Fargo Advisors and elsewhere want to sell banking products?  |
Registered Rep. October 22, 2002 Rick Weinberg |
Merrill to Reps: Go Get 401(k) Business Merrill Lynch advisors are now going to offer participants in Merrill-run retirement plans specific buy and sell recommendations. Indeed, participants may elect to turn over all investment decisions to Merrill advisors.  |
Registered Rep. August 4, 2009 French & Churchill |
Dan Sontag Departs Merrill Lynch Much beloved by Merrill financial advisors, Dan Sontag is stepping down as head of Merrill Lynch Global Wealth Management.  |
Registered Rep. June 4, 2009 John Churchill |
Merrill Lynch's Dan Sontag Out? Salaried Merrill Brokers? Not so Fast According to a story posted yesterday on Clusterstock.com, a financial blog, Dan Sontag, head of Merrill Lynch's global wealth and investment management unit, is about to be pink-slipped.  |
Registered Rep. July 18, 2006 Kevin Burke |
Merrill's Brokerage Unit Records Huge Second-Quarter Gains Merrill's global private client group (GPC) registered a pretax earnings increase of 53%, to $701 million, in the second quarter ending June 30, up from $457 million in the same period in 2005.  |
Registered Rep. February 8, 2006 Kevin Burke |
Merrill Brokers to Get Less Money Now, More Later--If They Stay Merrill Lynch has changed the way it pays its brokers to include more deferred compensation and less cash. The new package rewards brokers who stay a long time, while penalizing those that don't. Its aim is reducing turnover, but may also improve the firm's earnings.  |