Merrill Lynch

The regional BD’s new advisors managed a total of $225 million in assets at Wells Fargo and Merrill Lynch.

The regional BD started its 2019 recruiting year with a bang.

The regional BD has been on a red-hot recruiting streak.

“The thundering herd is on the move,” boasts Andy Sieg, head of Merrill Lynch.

The firm’s newest recruits come from Merrill Lynch and Wells Fargo.

Advisors from across 79 branches were involved in selling offerings to family members and other brokers, including stock in Facebook, General Motors, LinkedIn and Twitter.

The new hires came at the expense of Merrill Lynch, Morgan Stanley, UBS and Hilliard Lyons.

The firm is led by ex-wirehouse executives aiming to recruit large wirehouse teams.

The 50 largest teams and OSJs to change their affiliations show both the threat to incumbent firms posed by RIAs and the scale afforded by acquisitions.

The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.

Andy Sieg, head of Merrill Lynch Wealth Management, will join the management team of the company, reporting directly to CEO Brian Moynihan.

The regional firm launched its seventh new office this year.

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

Competitive pressures from the industry’s smaller players are changing the wirehouse playbook.

New COO is pitching firm’s name, platform — and capital.

The regional BD’s newest hires oversaw $230 million in client assets.

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

It’s the second big hiring announcement by the regional BD within the past week.

Industry efforts still have far to go as less than 3.5% of the 80,000 CFP professionals were black or Latino in 2017.

It’s at least the fifth time this year that the bank is suing a former advisor for allegedly violating a non-solicitation agreement.