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Articles tagged "Bank of America"


John Thiel: People are looking for advisors who understand that the retirement conversation isn’t about a math equation.

How Merrill Lynch Clear looks so impressively RIA-like and what shows how deceptive looks can be
The big iPad-laced and rhetoric-laced wirehouse initiative toward goals-based investing may have selling insurance as its primary goal

Wednesday 6.18.14
Tim Welsh: You know the gig is up. That's their core competency.

Bloomberg: BoA's market-making unit for its Merrill Lynch wealth division gets suddenly scrapped
The news and data giant is reporting that heat from Flash Boys made the investment bank think twice about conflicts

Thursday 5.22.14
Greg Mech: Increasingly, there's an overemphasis on cross-selling and a lack of transparency in [the wirehouse] space.

How a $2.5 billion Boise RIA will use Merrill Lynch's former SoCal overseer to win the over-sunned of The OC
The former Bank of America market president stepped back into the industry after a two-year hiatus following an epiphany and will be recruiting families, not his former flock of brokers

Monday 9.9.13
James Maher: From a conflict standpoint, it was very awkward.

Merrill Lynch team breaks away from Bank of America (yes, ironically) to get better access to bankers
James Maher is forming Archford Capital Strategies as a wealth manager that needs capital galore to unlock his clients' billions in assets from illiquidity

Tuesday 4.2.13
LLBH is Jim Pratt-Heaney, Bill Loftus, Bill Lomas, Kevin Burns: We were constantly being told 'if we do it for you, we have to do it for 17,000 other advisors.'

How an ex-Merrill team broke free just under the BoA takeover wire and doubled its assets in four post-crash years
Thinking the wirehouse model was broke not wanting to fix it LLBH has parlayed $450 million of assets to nearly $1 billion

Thursday 8.16.12
Tweets Krawcheck: "Mind-numbing details [about the difference between RIAs and B-Ds] make it hard to get anyone to stay awake thru it."

What to make of Sallie Krawcheck's emergence as a Twitter-sphere celebrity
The ex-Merrill Lynch exec reveals a self-deprecating bent but the 'crazed UNC basketball fan' still doesn't seem sold on the differences between RIAs and stockbrokers

Wednesday 5.2.12
Myles Pritchard: They were making it more difficult and they were getting ready to close accounts down.

Myles Pritchard thought it was better in the Bahamas and Merrill Lynch didn't -- so he left for life with CONCERT Wealth Management
With half of his clients offshore, the LA advisor grew disenchanted with Merrill's lack of appetite for international business

Friday 4.6.12
Danny Sarch: It was a ballsy thing to do.

RIAs line up behind Greg Smith as Goldman Sachs reels from exec's New York Times op-ed grenade
The advisory community indulges in a bit of schadenfreude as a departing executive director slams the wirehouse culture

Thursday 3.15.12
 Leonard Reinhart: What really intrigues me about what he's doing is he's bringing Wall Street back to Main Street.

Why exactly Dave Loeper and a Smith Barney/E.F Hutton legend are teaming up
Leonard Reinhart has ideas about how to market the Richmond, Va.-based firm's patented technology - and alleviate strain

Wednesday 10.26.11
Jeff Spears: The profit margin on brokerage revenues is in the low teens. For banking products and services, it’s 30%-plus.

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

Monday 9.12.11
Fred St Laurent says that when Krawcheck is in charge, his job gets harder.

Sallie Krawcheck, A Recruiter’s Nightmare
Criticized and often at the center of a business storm, she has emerged as Wall Street's problem-solver -- and she's doing it again at Merrill Lynch

Thursday 1.27.11
Shirl Penney: We are very satisfied with the terms of the agreement.

Dynasty Financial Partners ends legal squabble with Bank of America, clearing deck for growth
The high-profile startup may have passed up chance to win its case, an attorney says

Tuesday 1.25.11
One way U.S. Trust is attracting talent from competitors is by selling them on managing dream assets -- vineyards included

U.S. Trust’s latest hires and what’s expected of them
The venerable institution is promising a better life but no wirehouse-style bonuses

Monday 1.3.11
Shirl Penney: We wanted [the company] built to last rather than built to flip.

What exactly is Dynasty Financial Partners and why is the Smith Barney execs' startup gaining so much attention?
Some combination of a bold business model, powerful backers and good PR -- lawsuit aside -- made for a good break out of the gate

Monday 12.13.10
Adam Honoré: The reason you’d want Merrill Lynch is that you’d want access to their advisors and to their training.

Why the launch of Merrill Edge may be a shrewder move by BoA than it first appears
Success will depend on how closely BoA/Merrill Lynch can tie the new online brokerage to its full-service offering

Monday 6.21.10
Fred Tomczyk told Reuters: E*Trade 'is on a better footing today than they were a year or two ago, no question.

Analysts issue opinions on Merrill Lynch and TD Ameritrade based on new information
Merrill Lynch or another wirehouse, not a discount broker, should acquire E*Trade, researcher says

Monday 4.19.10
Jeff Maurer: U.S. Trust was our launching pad, but our business plan does not rely on shopping at U.S. Trust.

Evercore is looking to its future after lifting out a huge team of U.S. Trust financial advisors
Former U.S. Trust CEO Jeff Maurer has brought his old magic to the new RIA

Thursday 4.8.10
Matt Mathias: Every time there's a merger, clients are disrupted.

Consolidation pushes a veteran of Wachovia, U.S. Trust, National City into the RIA space
Trendspotters see increase in bank breakaways as wealth management divisions consolidate

Tuesday 2.16.10
Frank Shull: Our pipeline is very full.

Focus Financial looks more like a consolidator-of-consolidators as its partner firms go on buying sprees
Lara, Shull pulls off five deals to nearly double its assets in a year

Tuesday 2.9.10
Patrick J. Burns: I'm not sure the SEC or FINRA has the stomach for a return to the days of heavy litigation.

Broker protocol may be endangered by complexities as membership starts to explode
Merrill Lynch, LPL and Ameriprise create addendums to once-sacred truce; they may spark an unfavorable trend

Friday 1.29.10
Barnaby Grist says that wirehouse data on attrition is accurate but not telling for breakaways

Schwab and TD Ameritrade pipelines brim with breakaway prospects
Growth rate accelerates despite slowing attrition at wirehouses

Tuesday 1.26.10
Brooke Southall: I asked John, 50, why he didn’t hire a financial advisor and he said that the system was “crooked” and “corrupt.”

What I learned about E*TRADE, Bank of America, Google and the Bubble Lounge during pre-holiday conversations
Just because a wirehouse broker doesn't win the account doesn't mean that another advisor will

Tuesday 12.22.09
Brian Moynihan: We think of this not as changing the business model, but changing the way we do business

Merrill Lynch goes unmentioned as Bank of America settles on CEO choice
Krawcheck doesn't figure in, and press release neglects mention of big wirehouse

Friday 12.18.09
Krawcheck tells InvestmentNews:“What we’re seeing now is independent advisers asking how they can join us."

6 things to consider when reading Sallie Krawcheck's comments in interviews
Critics say mixed motives may explain head-scratching comments by CEO of Merrill Lynch

Monday 10.19.09

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