Bank of America Merrill Lynch

A recent herding to the sector may be more of a gut reaction rather than a careful evaluation.

'Know which problems you are trying to solve,' says InlVest speaker Kabir Sethi.

The wirehouse will take 3% — or up to $4,000 per month — of advisors' production in 2019.

Terry Laughlin, who ran the bank’s $2.8 trillion wealth management business, formerly served as its chief risk officer, the bank said in a statement Friday.

A bonus introduced earlier this year has helped fuel client acquisition, executives say.

Most of the 150 markets are in areas 30 miles away from the nearest Bank of America branch.

After a request for more time, clients may continue selling stocks, but transactions will be subject to review.

Bank of America has plans to expand the self-directed platform’s reach even further.

The firm announced last week that it would reinstate traditional brokerage for retirement accounts in October, giving new life to the conflicts it had eliminated.

The client relationship manager is now on a leave of absence, according to Merrill.