Merrill Lynch
Rockefeller Lures Two Florida Teams with $9.8 Mln Revenue
Morgan Stanley team with $6.5 million and Merrill team generating $3.3 million in revenue bring Rockfeller’s brokerage force to 44 teams.
Merrill’s New Household Growth Fell 40% in 2020–Sources
Merrill brokers added about 20,000 net new households last year, compared to 35,000 in 2019, but given the pandemic executives say they are pleased.
Fired Merrill Broker in Beverly Hills Barred by Finra
Broker declined to cooperate with regulator’s investigation into Merrill’s claim that he made inappropriate investment recommendations.
Sanctuary Hires $435-Mln Merrill Team, Snowden Lures Another from Retirement
Independent broker-dealer Sanctuary has landed its 42nd team since its 2018 launch while Snowden says it wooed a former billion-dollar Merrill broker back to the business.
Merrill Hires $2-Mln JPMorgan Bank Team in Texas
The new recruits mark a rare split from Merrill’s retreat from veteran broker recruiting over the past three years.
Citi Revises Advisor Comp Model
Grid payout is now quarterly, supplementing monthly salary, with a component of grid credit tied to client satisfaction, teamwork and other qualitative assessments
Merrill Loses $2.8-Mln Producer to UBS, $2-Mln Team to Independence
Advisors in Louisiana and New Jersey left Merrill after about two decades.
Ex-Merrill Broker in Kentucky Sentenced to Eight Years
Former broker pled guilty to stealing roughly $4.2 million over 10 years.
Morgan Stanley Hires Merrill ‘Growth’ Champ in California
Millennial advisor with $1.5 million in revenue, who was three-time winner of Merrill’s “excellence in growth” award, says he is a believer in cold calling.
Merrill’s Sieg: Net Income to Fall 30% in 2020
In discussing Merrill’s 2021 compensation plan with advisors, Wealth Management President Andy Sieg explains that rock-bottom rates constraining profits require vigilance.
UBS Hires Solo Advisors from Merrill and Bernstein, Loses Team to Morgan Stanley
UBS attracts multi-million-dollar advisors in southern California and Texas, loses Boston-area duo producing $3.5 million to Morgan Stanley.
