Economy

At an average age of 37, the top-producing brokers operate in 18 different states, plus the District of Columbia and Guam.

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The nearly 10,000 advisors affiliated with the firm grow 2.5 times as fast as their peers at rival brokerages, CEO Jim Cracchiolo says.

The margin requirements apply to Merrill Lynch wealth management clients and individual traders using the Merrill Edge platform.

The increase comes as the recruiting market heats up.

“As of today, Wells Fargo Advisors is not allowing solicitation of those two securities,” a spokesperson for the bank said Wednesday.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.

The 2,500-advisor firm is sneaking up on larger rivals by adopting an approach that’s increasingly popular across wealth management.

The 20 funds in this ranking carried an average expense ratio of more than twice the broader industry.

A team that has grown through acquisitions dropped the No. 1 IBD after the institution purchased another one for more than $600 million.