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Articles tagged "Merrill Lynch"


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Jim Iannazzo pictured in a police mug shot, has closed the book on criminal and civil charges.

Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'

Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.

September 1, 2022 at 5:11 AM

Andy Sieg finally made his move with iCapital after Bank of America gave him control of product inventory in 2022.

Merrill Lynch's owner finally invests in iCapital but at the non-early bird special share price

Bank of America paid at a $6 billion valuation after Andy Sieg and Lawrence Calcano had a 'great conversation' over lunch.

July 5, 2022 at 9:13 PM

James Iannazzo threw away his CFP (for now) and Merrill branding when he threw insults and yogurt drinks but he may yet execute a smooth landing in Westport.

The amazing -- though unsurprising to recruiters -- resurrection of 'smoothie' broker James Iannazzo, who lands at a brokerage 52 days after Merrill Lynch sacked him for his outburst

Iannazzo's name showed up as registered broker with Ageis Capital, suggesting clients tend to forgive or are oblivious in these circumstances, recruiter says.

March 19, 2022 at 2:36 AM

Brian Hamburger: Cutting out free lunches doesn't end the conflicts.

Merrill Lynch bars brokers from accepting freebies from third-parties but Brian Hamburger sees the play as a classic Wall Street 'card trick'

In a world where RIAs often accept lunches from a wholesalers, the New York wirehouse's out-of-the-blue change of heart has the lawyer saying it looks more like a way of bolstering its position as the intermediary

September 10, 2020 at 3:33 AM

Jim Dickson: You will see Merrill shrink [its] training program ... and follow Fidelity's lead.

Fidelity, Schwab, Robinhood and even (days numbered) TD Ameritrade are hiring thousands of staff -- even as Merrill Lynch hits a snag-- what's that say about free trading?

Schwabitradehood's growing pains aren't just in website glitches but also to keep hold times to a mimimum in the phone service queue

September 1, 2020 at 1:37 AM

Merrill's Andy Sieg: [The wirehouse] "has no intention of moving in that direction”

Merrill Lynch retreats from stealth RIA custody business just as major rival Wells Fargo runs for daylight in a bid to keep breakaway advisor assets

Major banks pursue competing RIA custody strategies after running programs for years out of their vest pockets

October 25, 2019 at 1:50 AM

Andy Sieg, head of Merrill's 14,800 advisors is overhauling the training program

Bank of America's purge of 'Lynch' and 'U.S. Trust' neuters storied brands, but the revamped training of raw recruits under a new name is where the real eradication of broker culture is going down

The Charlotte, N.C. banking bruiser is reeling in the mega-producer model, perhaps paving the way for a more monumental shift in compensation toward a U.S> Trust, salary-and-bonus structure

March 8, 2019 at 6:05 PM

Lou Harvey: They're giving advice for free and everyone else will have a dickens of a time beating a zero cost offering.

How Fidelity used a robo-advice exemption to stick the landing as a fiduciary to 401(k) participants after the tumult of the DOL rule

The Boston king of DC plans had to withdraw from advising plan sponsors but followed a 12-year-old rule that permits a 'computer model' for the little guys

October 11, 2018 at 3:37 PM

Phil Snow: “Distributed architecture allows us to deploy a lot more desks at a lower price point.

After winning Merrill Lynch, FactSet CEO Phil Snow is challenging Big Data for downmarket RIAs, but convincing them to buy a box is an up-sell nightmare

FactSet scored its largest deal ever this August, landing the 15,000-strong Merrill Lynch wealth management arm; Next, CEO Phil Snow is targeting RIAs, but they'll be a much harder audience to undercut than the terminal-using crowd at institutions

September 12, 2018 at 8:08 PM

Greg Fleming is building out his management team to go after top advisors

Greg Fleming dips into RIA gene pool with expected hire of Chris Dupuy to fish for elite wirehouse advisers in drive to reach $100 billion in UHNW assets

But can the CEO of Rockefeller Capital Management, a brand associated with a 19th century robber baron, convince 21st century tech magnates and next-gen middling millionaires to rub shoulders with Rockefellers... and Derek Jeter?

August 28, 2018 at 1:53 AM

Chris Dupuy: Leaving financial services after 34 years to write about sports

Ex-Merrill exec Chris Dupuy makes exit from Focus Financial barely a month after IPO, leaves financial services after 34-year career; you won't believe what he's doing now

Dupuy was charged with expanding Focus Connections, a program designed to help elite wealth management teams transition from wirehouses to independence

August 25, 2018 at 10:06 PM

Lou Harvey:  I think they’ll come up with some rationale to explain the 180-degree turn.

A Machiavellian Merrill Lynch took the lead on the DOL rule and marketed its fiduciary piety; now it's wrapping its flip-flop in the same pious intent

The fiduciary play by BoA's wirehouse got accolades but failed to help Merrill where it always matters most -- recruiting, retention and revenues. It still may be doing the right thing for consumers when reverse churning gets considered.

June 28, 2018 at 7:06 PM

Louis Harvey: One of the big things that RIAs had from day one was they could say they always put clients' interests first and now that argument is pretty much shot to hell.

How Merrill Lynch 'shot to hell' the RIA fiduciary citadel by casting its $7.5 billion fiduciary 401(k) unit as smaller, purer and more future-minded on paper

Despite FAS having fewer 401(k) assets than, for example, a single North Carolina-based RIA, CAPTRUST, the Charlotte-based Bank of America's brokerage unit has created a new competitive threat

December 16, 2017 at 12:20 AM

RIAs can move to the green pastures of 'integrity' to get past the muddy trenches of harmonizing a definition of 'fiduciary.'

It's time for RIAs to shift the 'fiduciary' debate and make it about 'integrity'

Integrity demands wholeness, which Wall Street can't claim as its sales staff and business model continues to get thrashed in the marketplace

December 1, 2017 at 2:19 AM

John Straus: Other broker-dealers are not experienced in dealing with a wealthy complex client.

Raymond James looks to extend its RIA roll-up success with FallLine deal that gets John Straus off the startup schneid

The St. Petersburg, Fla.-based broker-dealer connected with Steward and this time it gets play at making gains in two weak areas -- serving RIAs and ultra high net worth investors

July 13, 2017 at 9:04 PM

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