A memo to Merrill Lynch brokers and customers from an executive who's walked in Sallie Krawcheck's shoes
The brokerage chief's departure last week marks the end of the experiment of a semi-autonomous Merrill Lynch
Cory Binsfield
For the record, the cross selling started as soon as Merrill was rescued by BOFA. Worse, wirehouse brokers are employees not business owners. This is why the independent/RIA model continues to expand. Fortunately, clients are finally discovering that being with a big firm does not ensure you are getting the best advice. If Merrill and Lehman could not manage their own finances, how can they manage their clients?
Ron Edde
The exodus is about to begin.
Ron Edde
Executive Recruiter
760-583-4806
Related Moves
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.
