2012 a Model Year for 401(k) Savings: BofA Merrill
Screaming headlines about 401(k) enrollees raiding their retirement savings are au courant these days, but a Merrill study of its own 2.5 million plan participants found markedly positive results.
PIMCO’s Gross QE4 Warning: Here Be Inflationary Dragons
PIMCO bond guru Bill Gross leads the charge in expressing all the inflation fears that the Fed unleashed with its December QE4 announcement.
Merrill Grabs Morgan Stanley Exec to Run Annuities, Insurance
Michael Maghani, a 30-year industry veteran, was previously with Citi, UBS and other firms
Three Advisors, Three Stories
When Louis Berger and his partner founded their RIA, Washington Square Capital Management, in New York City in 2009, they had to adjust their mindset.
Fiscal Cliff Is Higher Than You Think: BofA-Merrill
Taxpayers may have to leap off the fiscal cliff on Jan. 1, 2013, unless Obama and Congress act together.
Merrill Loses Four Advisors to Wells Fargo
The departures come on the heels of news that BofA is selling some operations to Julius Baer and firing some U.S. Trust managers.
In the nearly 30 years that I have been covering financial advisors, the fundamental problem hasn’t changed: Delivering client-centered advice isn’t as profitable as selling products.
Chip Roame: The 2012 IA 25 Extended Profile
“It’s like drinking from a fire hose.”
BofA to Sell Merrill’s Foreign Wealth Units, Report Says
BofA is trying to raise $3 billion through the overseas sale, according to Reuters, but that could lead to some flight among U.S. advisors.
Merrill Adds Putnam to Retirement-Plan Suite
According to BofA, some 2,300 Merrill Lynch advisors sell defined-contribution plans, which now have about $26.5 billion in assets.