Articles tagged "Merrill Lynch"
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Low profile RIAs keep draining market share from non-RIA national brands -- Morgan Stanley, Merrill Lynch, UBS -- but big names still have a marketing edge, new Cerulli report says
The largest Cerulli study sub-group, 39% of individuals, want 'large national' brands -- even with RIAs set to gain four percentage points of market share on wirehouses by 2027
April 11, 2024 at 4:27 AM
Father and son breakaway team 'poke the bear' by suing Merrill Lynch upon exit -- a risky move, experts claim -- but potentially a brilliant out-of-the-box approach to keep their clients
Michael and Philip Bradshaw of San Diego took the action against $3.2-trillion New York City colossus, because their attorney sees an angle under California law
March 1, 2023 at 2:44 AM
Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'
Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.
September 1, 2022 at 5:11 AM
Merrill Lynch's owner finally invests in iCapital but at the non-early bird special share price
Bank of America paid at a $6 billion valuation after Andy Sieg and Lawrence Calcano had a 'great conversation' over lunch.
July 5, 2022 at 9:13 PM
The amazing -- though unsurprising to recruiters -- resurrection of 'smoothie' broker James Iannazzo, who lands at a brokerage 52 days after Merrill Lynch sacked him for his outburst
Iannazzo's name showed up as registered broker with Ageis Capital, suggesting clients tend to forgive or are oblivious in these circumstances, recruiter says.
March 19, 2022 at 2:36 AM
Merrill Lynch bars brokers from accepting freebies from third-parties but Brian Hamburger sees the play as a classic Wall Street 'card trick'
In a world where RIAs often accept lunches from a wholesalers, the New York wirehouse's out-of-the-blue change of heart has the lawyer saying it looks more like a way of bolstering its position as the intermediary
September 10, 2020 at 3:33 AM
Fidelity, Schwab, Robinhood and even (days numbered) TD Ameritrade are hiring thousands of staff -- even as Merrill Lynch hits a snag-- what's that say about free trading?
Schwabitradehood's growing pains aren't just in website glitches but also to keep hold times to a mimimum in the phone service queue
September 1, 2020 at 1:37 AM
Merrill Lynch retreats from stealth RIA custody business just as major rival Wells Fargo runs for daylight in a bid to keep breakaway advisor assets
Major banks pursue competing RIA custody strategies after running programs for years out of their vest pockets
October 25, 2019 at 1:50 AM
Bank of America's purge of 'Lynch' and 'U.S. Trust' neuters storied brands, but the revamped training of raw recruits under a new name is where the real eradication of broker culture is going down
The Charlotte, N.C. banking bruiser is reeling in the mega-producer model, perhaps paving the way for a more monumental shift in compensation toward a U.S> Trust, salary-and-bonus structure
March 8, 2019 at 6:05 PM
How Fidelity used a robo-advice exemption to stick the landing as a fiduciary to 401(k) participants after the tumult of the DOL rule
The Boston king of DC plans had to withdraw from advising plan sponsors but followed a 12-year-old rule that permits a 'computer model' for the little guys
October 11, 2018 at 3:37 PM
After winning Merrill Lynch, FactSet CEO Phil Snow is challenging Big Data for downmarket RIAs, but convincing them to buy a box is an up-sell nightmare
FactSet scored its largest deal ever this August, landing the 15,000-strong Merrill Lynch wealth management arm; Next, CEO Phil Snow is targeting RIAs, but they'll be a much harder audience to undercut than the terminal-using crowd at institutions
September 12, 2018 at 8:08 PM
Greg Fleming dips into RIA gene pool with expected hire of Chris Dupuy to fish for elite wirehouse advisers in drive to reach $100 billion in UHNW assets
But can the CEO of Rockefeller Capital Management, a brand associated with a 19th century robber baron, convince 21st century tech magnates and next-gen middling millionaires to rub shoulders with Rockefellers... and Derek Jeter?
August 28, 2018 at 1:53 AM
Ex-Merrill exec Chris Dupuy makes exit from Focus Financial barely a month after IPO, leaves financial services after 34-year career; you won't believe what he's doing now
Dupuy was charged with expanding Focus Connections, a program designed to help elite wealth management teams transition from wirehouses to independence
August 25, 2018 at 10:06 PM
A Machiavellian Merrill Lynch took the lead on the DOL rule and marketed its fiduciary piety; now it's wrapping its flip-flop in the same pious intent
The fiduciary play by BoA's wirehouse got accolades but failed to help Merrill where it always matters most -- recruiting, retention and revenues. It still may be doing the right thing for consumers when reverse churning gets considered.
June 28, 2018 at 7:06 PM
How Merrill Lynch 'shot to hell' the RIA fiduciary citadel by casting its $7.5 billion fiduciary 401(k) unit as smaller, purer and more future-minded on paper
Despite FAS having fewer 401(k) assets than, for example, a single North Carolina-based RIA, CAPTRUST, the Charlotte-based Bank of America's brokerage unit has created a new competitive threat
