More in Merrill Lynch

  • Nov 27, 2012

    Is Sallie Krawcheck "Running" for SEC Chair? If Not, She Should Be:

      Sallie Krawcheck, aka Mrs. Clean, is rumored to be on the short list to succeed Mary Schapiro as the chairman of the SEC. In recent week, Sallie has been on various social media (LinkedIn and Twitter), weighing in on the various vexing conflict-of-interest issues facing Wall Street. In fact, according to one account, Sallie has posted some 700 or so Tweets, many about regulatory matters....More
  • Oct 22, 2012

    The Competition to Recruit Financial Advisors Is as Intense as Ever. Oh, and so Is the Bragging

    Independent finacial advisors are taking more market share. According to Tiburon (citing Envestnet and HighTower research --- as well as Tiburon's own research), IBD-affiliated FAs now account for 42% of the FA population. Bank and insurance companies account for 31%; wirehouse and regionals account for 27%....More
  • Oct 10, 2012

    Is Mother Merrill Being "Dismantled" by Bank of America?

    There is an interesting thread (okay, a short thread, but interesting) developing on the Merrill Lynch Alumni group on LinkedIn. We have all heard some financial advisors gripe about being owned by a bank (push to sell banking products, too much bureaucracy, bankers are not entreprenuers . . . and the like). Of course, FAs I talk to like the fact that clients can go to any one of the zillion BoA branches (Ticker: BAC) and deposit money into their ML brokerage accounts. I would like to hear from ML FAs or recent "escapees" about the comments below....More
  • Oct 3, 2012

    Will Banks Sell Their Asset Management Units? Will BofA Sell Merrill? The Rumors Persist 1

    In a recent report, Cerulli Associates predicts that banks that own asset management units will want to sell them off, well, once the economic outlook looks rosier, that is....More
  • Aug 21, 2012

    For this $1B Breakaway, Independence Was Not an Option

    The latest advisory team to join national RIA HighTower managed $1 billion at their former firm, Credit Suisse, and considered starting their own independent practice. They decided against running their own business, believing it would take up time needed to tend to the portfolios of their ultra-high-net-worth clients, one of the principals said today.  ...More
  • Jul 18, 2012

    Merrill Lynch Headcount, Assets Flat in Q2

    Bank of America’s global wealth and investment management group, which includes Merrill Lynch and U.S. Trust, reported net income of $543 million in the second quarter, up from $513 million in the year-ago quarter. Revenues for the second quarter totaled $4.3 billion, down from $4.5 billion in 2011....More
  • Jun 29, 2012

    Closing the Barn Door Too Late? Banks Are Healthier Now than in 2007. Yet Moody's Recently Downgraded 17 Banks. Why?

    Banks have more capital than in 2007 and are in general healthier. Yet, like closing the barn door after the mustang has wandered off, Moody downgraded 17 banks. Moody's recent downgrade explained....More
  • Jun 21, 2012

    Merrill Fined For Overcharging Clients $32 Million

    Whoops. Merrill Lynch charged clients a lot of fees it wasn’t supposed to—$32 million, to be exact—and failed to provide certain required trade notices, according to FINRA charges released Thursday. Merrill has already paid that money back to clients, plus interest. But FINRA fined the brokerage firm $2.8 million for the missteps anyway....More
  • Jun 5, 2012

    Is Merrill Lynch Crazy for Raising Client Minimums after the Lost Decade? 1

    It amazes me how our readers respond to articles. Sometimes you hear nothing, and sometimes you hear a chorus. And sometimes someone responds in our comment section about an article published a decade ago! If you don't already know about our comment section, you might make think about putting it to good use. Readers are allowed to post anonymously --- well, I approve the comments to be sure the comments are not vulgar or libelous....More
  • May 3, 2012

    Former Merrill, Morgan Wonks Fill Occupy Wall Street Offshoots

    A couple of Occupy Wall Street offshoots have sprung up that are filled with financial services wonks and have very specific aims. One wants to fix the regulatory system, the other to create an alternative bank....More
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