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June 26, 2009 at 08:00 PM
Jamie Goodman, a Merrill Lynch advisor, has accused Bank of America of discriminating against female financial advisors by offering them lower retention bonuses than their male counterparts, Reuters has reported.
The suit seeks class-action status and claims that since wealthier clients have been steered to male advisors, female advisors were typically eligible for only lower production-based bonuses.
It comes 13 year after a widely publicized discrimination suit was brought against Merrill, and the broker-dealer implemented a national account-distribution plan that included teams of advisors as a means of eliminating discrimination.
The most recent lawsuit was filed in a Manhattan as Goodman v. Merrill Lynch & Co., U.S. District Court, Southern District of New York (Manhattan), No. 09-5841. It was brought by Goodman, who has worked for Merrill Lynch since 1992.
