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$2.5 billion adviser duo fired by Merrill Lynch lands at Stifel
A team of elite advisers who was fired last month by Bank of America Merrill Lynch over private securities transactions has found a new home. (Plus: The team plans to fight back.)
Morgan hires longtime Merrill broker
Thomas Forma previously managed more than $300 million along with his partner Kevin Nichols.
Merrill snags $500 million team from UBS
Trio brought in $5 million in annual revenue at UBS and will join Merrill's elite private banking group. See also: Merrill loses longtime broker to Morgan Stanley)
Wealth management a growing force in bank fortunes
Third-quarter earnings reports show that once again, wirehouses are driving revenue at the giant banks that own them.
Merrill stabilizes head count, boosts productivity
The firm's thundering herd climbed back to 14,000 in the third quarter after several quarters of steady declines.
Two high-profile adviser terminations take center stage
This week's must-read stories for advisers include employment drama at LPL and Merrill, Bill Gross speaking out, and a renewed push for more women in advice.
Terminated $2.5 billion Merrill Lynch team plans to fight back
An elite private banking duo plans to take legal action accusing the wirehouse of wrongful termination last month, their attorney says.
Merrill asks $2.5 billion team to leave
The advisers allegedly violated Finra rules and firm policy by encouraging some of their larger clients to invest directly in hedge funds.
Merrill posts record revenue on fee growth
Asset management fees were up almost 17% year-over-year; total client balances hit $2 trillion.
Indie reps happier at work than employee advisers: J.D. Power
Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction among the two groups is narrowing. See how your firm ranks
Wirehouses warm to bank channel recruits
Wirehouses are now focusing on a new market segment in their talent searches: bank channel recruits. Why the change in sentiment for advisers once considered too risky?
Merrill Lynch dodges high-profile gender bias suit
N.Y. Supreme Court justice dismisses a complaint from three former trainees who claimed they were given a book called “Seducing the Boys' Club” and ultimately fired out of bias.
Consumers left in the loan lurch as big banks still hold off
Friday's menu: Consumers still left in the loan lurch. Plus: Which manager just jumped into the liquid alts pool? Some stocks for a rising-rate cycle; commodities are hot again; European banks ride the wave; and Merrill trims its housing outlook.
Wirehouses sweeten succession deals for retiring advisers
Wirehouse firms are revamping their succession programs with higher payouts and lower barriers to entry for advisers who are preparing to retire. The efforts are aimed at competing with independent firms that hold a reputation for the highest payouts.
Merrill Lynch nabs $400M team from Morgan Stanley
Bank of America Merrill Lynch has snapped up a former Morgan Stanley duo who oversaw some $400 million in assets. The two advisers, Michael Bromberg and Daniel Gerschel, have joined Merrill Lynch's New York office. They previously produced about $1 million in revenue while at Morgan Stanley,