Merrill Lynch to Enter Robo-Advice Race
Merrill Edge plans to introduce a robo-advice offering later this year that combines online investing technology with human advisors.
Recruiting Roundup: Wells Fargo, Merrill Nab Morgan Stanley Reps
Meanwhile Deutsche Bank Wealth Management and MV Financial share news on their latest hires.
BofA Fined by SEC for Lapses That Caused Mini-Flash Crashes
$12.5 million fine is largest ever for market abuse violations; weak trading controls led to stock drops of 99 percent.
Recruiting Roundup: Raymond James Nabs Two Morgan Stanley Teams
Two hybrid RIAs announce merger plans, as US Trust, Merrill, Ameriprise and other firms share their latest recruiting news.
Merrill Hires 3 New York Advisors From UBS
Bank of America-Merrill Lynch has recruited three veteran financial advisors from UBS with combined client assets of $750 million.
$550M Merrill Team Goes Indie With Dynasty in Florida
Also, Raymond James and Wells Fargo add several Morgan Stanley reps; Pavilion Financial to buy Jeffrey Slocum & Associates.
12 Best & Worst Broker-Dealers: Q2 Earnings, 2016
Like in Q1, profits for financial firms generally moved in the same direction, with one exception.
Recruiting Roundup: Raymond James, Cetera Add Groups
Meanwhile, two RIAs merge to form group with $13 billion in client assets.
BofA Q2 Profit Drops 18%
Revenue for the wealth group continues to drop, along with fees and commissions at Merrill and elsewhere.
Beyond 401(k)s, Merrill Boosts Offerings to Corporate Clients
The wirehouse has created a new executive post to increase banking, wealth management and "financial wellness" services for corporate clients and their employees.