The MiFID II regulations, which take effect in January, seek to police conflicts of interest between managers and brokers and to keep managers from passing on the costs of research to their clients.
Merrill Lynch will break out fees for asset management services, mutual funds, alt investments and commodities when it mails January account statements later this week.
If you believe that the job of a sell-side analyst is to tell people which stocks to buy and which ones to sell, you need to stop believing that right now, because it is not true.