Merrill Lynch

The firm's compensation plan, which is to remain unchanged for 2019, has turbocharged advisor productivity, an executive says.

A disgruntled client is poking at the firm’s low returns from its default sweep program, as well as its disclosure around the practice.

The breakaways join 72 others who moved their practices to the firm in the second quarter.

Over a nine-year period, he allegedly defrauded clients of more than $2.1 million.

The Bay Area advisors had worked at Merrill for nearly two decades.

The bank has picked up a few notable recruits this year, including a $6.6 billion team in April.

Each of the three advisors has more than 20 years of experience in the business.

The new recruits come from Merrill Lynch and Stifel, with $165 million in total client assets.

One team wanted more flexibility and time to manage their clients’ financial needs.

The new recruits came at the expense of wirehouse rivals Merrill Lynch and Wells Fargo.

The wirehouse’s pipeline for incoming brokers is at a two-year high.

The hire comes about a week after the boutique wealth manager lost a similarly-sized team to rival Morgan Stanley.

These firms scored big with advisors managing $1 billion or more.

The 18-month-old Sanctuary Wealth caters to breakaways but is also open to independent advisors as well, CEO Jim Dickson says.

The independent broker-dealer has seen significant growth in the last three years.

The wirehouse is giving the ultrahigh-net-worth crowd a more complete view of their finances, says Don Plaus head of private wealth management.

Six of the new recruits broke away from Merrill Lynch.

Sanctuary Wealth firms now have over $10 billion in client assets.

Two teams with $344 million in total AUM are tasked with expanding the firm’s presence in Mexico and South America.