Merrill, previously branded as Merrill Lynch, is an American investing and wealth management division of Bank of America.
Signs of a thaw in the firm’s three-year recruiting freeze come in wake of 3% decrease in total advisor ranks for parent Bank of America.
Sieg, who had been running practice management for almost a year and is brother of Merrill wealth head Andy Sieg, takes the reins from Chris Harvey.
Thomas, a former NFL player who had overseen a Merrill complex in Florida for the past two years, is returning to California to take over Morgan Stanley’s Menlo Park branch.
The $159 billion-AUM Camas, Washington RIA allegedly made thousands of calls to prospective clients using an automatic telephone dialing system in violation of the Telephone Consumer Protection Act.
NorthEnd Private Wealth, led by four former Merrill Lynch brokers in Greenville, S.C., is the sixth team to join LPL Financial’s Strategic Wealth Services model.
Advisor Robert Brust and client manager Jodie Nutter, based in Ponte Vedra Beach, Florida, left Merrill Lynch for Raymond James in February.
State court judge blocks brokers from soliciting 31 former customers referred from Merrill parent Bank of America but denies a broad customer contact ban Merrill had sought.
Independent firm Cambridge Investment agrees to return $3.1 million to investors in failed options fund and to pay $400,000 fine, while Merrill assents to $450,000 for weak walls between exchange-traded note traders and marketers to retail investors.
Merrill advisor who joined UBS in Garden City, Long Island, was generating $7.1 million in annual revenue, according to a person familiar with the move.
Some Merrill managers whose branches did not meet asset growth and bank product sales goals saw bonuses drop as much as 60%, sources said.
Group violated the Protocol for Broker Recruiting by improperly taking contact information for and soliciting 31 customers carved out under a bank referral program, Merrill Lynch argues.