Industry

The combined company will be known as Truist, which plays off “trust,” a word the banks’ original names had in common.

The regulator disclosed a transformative rule change, sparking outrage among fiduciary advocates and some advisors.

“When we think about these offerings, there are no hard lines that are drawn here,” said Merrill Lynch boss Andy Sieg.

The rule can only be effective if the investing public accurately understands its implications, says the firms’ chief platform officer.

Tariffs associated with the U.S.-China trade war could cause a bigger than expected adjustment.

Brokers “have become accustomed to this kind of deal structure,” COO Ed Swenson says.

Following two recent mega-mergers in the bullion space, the fight to secure dominance is intensifying.

The private equity-backed parent now spans four independent broker-dealers with nearly 2,000 advisors and $65 billion in client assets.

The fast-growing firm now has more than 100 brokers.

"The more objective you can make things, the better it will be," an expert says.