Bank of America Merrill Lynch

The fund will give investors exposure to noninvestment-grade bonds for less than half the cost of its flagship high-yield offering.

The company also said that its advisor ranks are growing.

The company's broker headcount declined slightly, but it remains the largest wirehouse by number of advisors.

Thomas Fickinger managed over 1,350 advisors generating $1.5 billion in revenue in 2016.

The firm, which has faced racial discrimination allegations, is trying an alternative approach suggested by a professor at Harvard.

The defendants profited more than $3 million by trading before and after mergers and acquisitions were announced, according to U.S. prosecutors.

If retirement is abstract to clients, ask specific questions to make it more real to them, such as: “Where will you be living? What does your house look like? What are you doing?"

The SEC's June 2016 settlement with Merrill Lynch was one of its biggest cases of the year by dollar amount.

One advisor says the fiduciary rule prompted the latest wirehouse exit to an RIA.

Investors pulled $2.1 billion from domestic mutual funds and ETFs in the week ending July 12.