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Registered Rep. April 15, 2011 Kristen French |
Merrill Earnings Strongest Since Bank of America Takeover Bank of America's Global Wealth and Investment Management division, which includes Merrill Lynch, reported its highest earnings since Bank of America's takeover of Merrill in late 2008, as asset management and brokerage fees rose.  |
Registered Rep. July 19, 2011 Kristen French |
Bank of America Gains 500 Financial Advisors, Client Balances Slip in Q2 It was an ugly quarter for Bank of America, which reported an $8.8 billion loss in the second quarter.  |
Registered Rep. August 26, 2010 John Aidan Byrne |
Neck And Neck, Morgan and Merrill On Hiring Sprees Both firms say they plan to add net financial advisors in 2010, adding to stated plans to sign up 2,000 trainees each this year.  |
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. May 31, 2013 Megan Leonhardt |
Sizing Up the Street In the latest earnings cycle, here's how the wirehouses stacked up.  |
Registered Rep. January 21, 2011 Diana Britton |
Merrill Lynch Revenue, Advisor Productivity Indicate Improved Investor Appetite Bank of America's Global Wealth & Investment Management unit, which includes Merrill Lynch, posted increased revenue and advisor productivity in the fourth quarter, signs investors may be shifting assets into longer-term, higher-margin products  |
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. April 16, 2010 Jerry Gleeson |
Merrill Advisor Defections Flat In Q1, Profit Falls Profits were down last quarter at Merrill Lynch but the brokerage's performance still helped to lift the fortunes of its new parent, Bank of America Corp.  |
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. 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. April 18, 2008 |
Merrill: An Able Foil to Bear? Merrill Lynch's streak continues -- a third quarter in a row that the firm has reported a loss.  |
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 26, 2011 John Aidan Byrne |
Online Brokerages Still Grabbing Market Share From Wirehouses Online brokerages continue to take market share from the wirehouses, according to a new report.  |
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. April 13, 2012 Kristen French |
Wells Fargo Wealth Management Business Posts Stagnant First Quarter Wells Fargo's wealth management business reported no growth in assets and a slight decline in advisors for the first quarter versus the same time period a year ago.  |
Registered Rep. April 21, 2011 Kristen French |
Morgan Stanley Wealth Management Assets Up, Headcount and Margins Down Morgan's other two divisions -- institutional securities and asset management -- recorded declines in income and revenues.  |
Registered Rep. March 9, 2011 Kristen French |
Morgan Stanley Cutting 200-300 FAs And Trainees The firm's wealth management division, Morgan Stanley Smith Barney, should end the quarter with about 17,800 advisors, still the largest brokerage force in the U.S. by headcount.  |
Registered Rep. January 20, 2010 Halah Touryalai |
Wealth Management Has Strong Fourth Quarter At Morgan, BofA Neither Morgan Stanley Smith Barney nor Bank of America ended 2009 with a bang in the earnings department. But their wealth management units were pockets of strength.  |
Financial Advisor July 2006 Dorothy Hinchcliff |
Climbing A Stairway To Heaven As boomers age and spend their savings, financial advisors will need to adapt their practices.  |
Registered Rep. October 5, 2009 Kristen French |
Merrill Launches Branding Campaign; Recruiting Net Positive The new campaign Monday will cost the firm $20 million in the fourth quarter, the most Merrill has ever spent on marketing.  |
Registered Rep. April 20, 2011 Kristen French |
Wells Fargo Reports Record Cross-Selling, Asset Inflows Wells Fargo's wealth management division reported stronger earnings, revenues and FA headcount in the first quarter, while cross-selling hit a record and client asset inflows were at their highest since Wells acquired Wachovia in late 2008.  |
Registered Rep. July 16, 2010 Jerry Gleeson |
A Mixed Second Quarter for Merrill, Schwab Second-quarter earnings results posted today by Merrill Lynch and Charles Schwab Corp. offered a mixed picture to financial advisors hoping for a stronger recovery.  |
Registered Rep. October 1, 2010 John Aidan Byrne |
Who Will be Number One Among the Wirehouses? A good old-fashioned Wall Street fight for retail assets -- and a fierce tussle over which firm can call itself the Number One retail wealth management firm on Wall Street -- is brewing.  |
Registered Rep. January 24, 2011 Jerry Gleeson |
BofA/Merrill Pricing Plan To Advance Cross-Selling Merrill Edge, the discount investment brokerage that Merrill Lynch rolled out last year, is playing its part in parent company Bank of America's effort to cross-sell consumer banking and investment services.  |
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. 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. August 29, 2012 Jerry Gleeson |
Devil Take the Hindmost The headlines in the media note that advisor headcount was down 2.3 percent overall in 2011. But it was the independent broker/dealer market that accounted for the biggest hit in the numbers.  |
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 22, 2012 Kristen French |
Due Diligence: Merrill Edge on Hiring Binge, Gets One-Third of Clients From FA Referrals Does Merrill Edge, Merrill Lynch's brokerage, banking and financial advice platform for the mass affluent (those with $100,000 to $250,000 to invest), compete with Merrill Lynch financial advisors?  |
Bank Technology News March 2011 John Adams |
Self Service With An Edge When it comes to attracting wealth management clients, the new focus is entirely on control - specifically giving control to customers via electronic channels.  |
Registered Rep. January 1, 2007 John Churchill |
Free Trading, a Threat? Bank of America offered free trading to its banking clients with more than $25,000 in deposits. Just another shot fired in the online price war or something more?  |
Registered Rep. June 21, 2006 Kristen French |
Morgan Stanley Retail Reports Second-Quarter Gains Finally, some good news for Morgan Stanley's retail brokerage. The unit reported strong second-quarter gains Wednesday, including an impressive surge in advisor productivity, which hit an all-time record for the firm.  |
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.  |
Bank Systems & Technology January 20, 2010 Penny Crosman |
BofA Repays TARP, Shareholders Lose Lending is up and the bank's purchase of Merrill Lynch appears to be more of an asset than a liability, based on the bank's fourth quarter results.  |
Registered Rep. October 19, 2011 Kristen French |
Morgan Stanley Smith Barney Reels In $15.5B in Assets, 300 FAs Exit, Margins up to 11% Morgan Stanley's global wealth management group finally raised its pre-tax profit margins in the third quarter, which climbed to 11 percent from 9 percent.  |
Registered Rep. February 25, 2010 Jerry Gleeson |
Advisors' Profit Margins Suffer in 2010 Wealth managers will find profits more elusive in 2010, and most are reconsidering their game plans accordingly.  |
Financial Advisor March 2012 |
UBS Reeling In Merrill Advisors The big four wirehouse firms are always trying to poach top talent from their rivals, but UBS Wealth Management seems to be doing a particularly job good job of late when it comes to snagging advisor teams from Bank of America/Merrill Lynch.  |
Registered Rep. January 26, 2009 John Aidan Byrne |
New Head, But Same Old Mission For Merrill's Retail Bank of America has named general counsel Brian Moynihan, an executive well versed in legal and business principles, to replace John Thain.  |
On Wall Street October 1, 2011 |
Who's News Bank of America Merrill Lynch hired Wells Fargo advisor Adam Gurien... Morgan Stanley Smith Barney has hired a team of Wells Fargo Advisors...Raymond James & Associates hires three advisors in Hingham, Mass... more...  |
Registered Rep. July 21, 2010 Jerry Gleeson |
Assets, Advisors Decline at Morgan Stanley Smith Barney in Q2 Morgan Stanley is making continued progress on its integration with Smith Barney, but declines in assets and headcount suggest it may be feeling the pain of client and advisor departures.  |
Registered Rep. July 21, 2011 Kristen French |
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters.  |
Registered Rep. November 7, 2011 Kristen French |
Krawcheck: Client Attrition Very Low, but Wooing Younger Generation a Challenge Generation x and y kids are not too keen on the big wealth management firms, and that is one of the major challenges the wealth management industry faces over the medium term.  |
Registered Rep. July 19, 2011 Diana Britton |
Wells Fargo's Wealth Management Earnings, Headcount Dip but Cross Selling Improves Wells Fargo's wealth, brokerage and retirement business posted slightly lower second-quarter earnings.  |
Registered Rep. December 11, 2002 Ross Tucker |
Merrill Program Seeks to Boost Women and Minority Advisors Executives from Merrill Lynch's global diversity group say the firm has to do a better job in retaining and boosting the performance of women and minority financial advisors.  |
Investment Advisor September 2005 Mark Tibergien |
Formulas for Success: The Price of Everything... If you're not adding profit into what each financial advisory client costs, you're losing money. Advisors who use a combination of performance fees tied to assets and a retainer tied to more complex planning are able to consistently demonstrate their value.  |
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. July 18, 2008 |
Woo-hoo! Citigroup Only Loses $2.5 billion In 2Q; Client Assets Flee Smith Barney Citigroup reported its second quarter earnings today, beating analyst expectations by losing far less money than anticipated.  |
Registered Rep. October 10, 2008 John Churchill |
McCann: Merrill Managers Get No Retention, FA Package Due in Two Weeks Merrill's president revealed that managers will get no retention package and only the top third of financial advisors will be getting a deal.  |
On Wall Street April 1, 2011 Lorie Konish |
U.S. Trust Defends Garden Policy, Codifies Processes Bank of America Corp. gave its U.S. Trust advisors notice in February that they were subject to "garden leave restrictions" if they left, sending shock waves through the industry.  |
Registered Rep. April 21, 2011 Diana Britton |
Raymond James Adds Assets, Loses Advisors Raymond James Financial's Private Client Group led the firm's growth in the second quarter.  |