5 Top Trends From Merrill's Q2 Results

“Lindsay and I continue to see this commitment to clients and growth firsthand,” he told reporters. “We’re seeing it firsthand as we’re out on the road meeting with our teammates, our advisors, our client associates, market executives and our specialists.”

So far, the two of them “have been in over 20 markets, from Los Angeles, Philadelphia, Palo Alto, Chicago, Atlanta, Miami, Detroit, and many others,” he noted. “And this has really proven to be valuable time and it’s helped us even further inform our thoughts around strategy.”

4. Merrill’s new strategy has three pillars.

“Pillar number one is that we will deliver more for our clients that will deepen,” Hans said. “Pillar number two is we’re going to increase our growth and investment in our advisors. And, number three, we’ve got to continue this pace at which we’re attracting new clients.”

5. Five trends will have a major impact on the U.S. wealth management sector.

Hans highlighted what she said are “five key trends” that Merrill thinks will “define and shape wealth management in this country going forward.”

The first is that the “pace of wealth creation in this country is not going to slow down,” she said.

Second, “we see technology playing an increasingly big role, especially for our high-net-worth clients, in terms of the way they interact with us.”

Third, she said: “As clients think about simplification, which matters a lot to them in this space, they think about not just investments; they think about banking too, and they think about the value of both of those solutions being delivered by their advisor and the advisor team.”

Fourth, “we think big teams are going to get bigger.”

And fifth: “As we think about financial services as an industry and all of the different doors that talent can walk through, we see wealth management being the primary door,” she said. “We see it as the destination of choice for talent, just given the growth and these trends and the innovation in this business.”

(Image: AP)