Michael Hayes

Although First Union Securities producers like their independence, their "ownership" of accounts and the lack of pressure, they remain frustrated by a back-office crunch that ensued after Everen Securities' Chicago...

Merrill Lynch has launched an initiative aimed at attracting the most affluent households.According to spokesperson Jim Wiggins, Merrill will unveil in the "near future" a new branch in Century City, Calif., devoted...

Merrill Lynch Contemplates $100,000 Household MinimumPolicy would end payout on transactional business in smaller accounts.Merrill Lynch is considering a new policy requiring a household to have at least $100,000 in...

Merrill Lynch brokers appreciate the fact that the Merrill brand name is instantly recognized, and its research is respected. "The best thing about Merrill is that it has a tremendous image and presence," says one...

Firm says 75% of brokers who stuck around will collect $100,000 or more.In February, an undisclosed number of Merrill Lynch reps will begin receiving $100,000 checks from the firm. The bonuses were promised to brokers...

New Ibbotson charts illustrate a wide range of investment principles.Having trouble convincing clients not to jump on the hot stock of the day? A new chart from Ibbotson Associates might help illustrate your point.The...

Corporate cost-cutting spills over to branches, dampens enthusiasm.Merrill Lynch brokers are applauding the firm's cost-cutting measures, including 1,800 layoffs in the brokerage division to reduce the "bloated...

Training period to go five years. Financial plans still required.Starting in January, Merrill Lynch will stretch out the amount of time broker trainees spend in its Professional Development Program (PDP) to five years...