Merrill Lynch

Executives at Merrill's parent firm, Bank of America, told analysts in a call that nearly two-thirds of their wealth management clients now have banking relationships with the firm.

As the head of the investment solutions group at Merrill and Bank of America Private Bank, Nancy Fahmy ensures the firm's advisors have access to investments they recommend to investors.

A federal judge agrees with Merrill that deferred compensation is a bonus used to reward employee loyalty rather than a retirement benefit protected by federal law.

Across the last five years of Financial Planning's 40 under 40 list, a few key insights have emerged about where the industry is at — and where it's headed.

In an industry with too few advisors, many say the failure rate for newcomers remains disconcertingly high. But brokers on Financial Planning's top 40 under 40 list say they wouldn't be where they are without early career training.

In the year ahead, private equity, exchange traded funds and tax-loss harvesting promise to be top priorities for advisors leading the pack.

Regulators took the wirehouses to task for not having policies directing advisors to consider clients' best interests.

Executives say the Bank of America subsidiary likely benefited from clients in 2023 seeking a safe harbor from teetering regional banks.

Industry experts say the new team of 25 investment specialists seems designed to tackle the more esoteric aspects of working with wealthy clients and leave asset gathering and relationship management to advisors.

The firm's new policy of keeping discrimination complaints out of court isn't sitting well with at least two financial advisors.