By Jake Martin, AdvisorHub – Breakaway teams from Merrill Lynch, UBS Wealth Management USA and Morgan Stanley have flown their wirehouse coups in the past week for Dynasty Financial Partners and LPL Financial, according to announcements and registration records.
Louis Diamond Quoted – By Alex Padalka, FinancialAdvisor IQ – James Iannazzo, who last month was charged with criminal trespass and other counts, became registered with Aegis Capital on March 15.
Louis Diamond Quoted – By Jeff Berman, ThinkAdvisor – Once upon a time, the Merrill Lynch advisor training program was widely considered the “gold standard” of industry training programs. Industry recruiters interviewed by ThinkAdvisor this month were split on whether the wirehouse’s new, shorter training program will successfully meet that same standard and achieve the firm’s recently stated goal of having 1,000 trainees graduate each year once it’s reached scale.
By James Rogers, Financial Advisor IQ – The swift firing of a Merrill Lynch financial advisor over an alleged bias incident at a Connecticut smoothie store serves to remind other FAs that they work in a high-profile industry, and there are consequences to bringing bad publicity to their employer’s doorstep.
Mindy Diamond Quoted – By Patrick Donachie, WealthManagement.com – Merrill Lynch Wealth Management is amending its current policy governing how much payout advisors keep for retaining accounts previously under advisors who departed the firm for other companies or retired, according to a senior Merrill Lynch executive detailing changes to the company’s compensation structures in the coming year.
Louis Diamond Quoted – By Jake Martin and Mason Braswell, AdvisorHub – Merrill Lynch Wealth Management President Andy Sieg on Wednesday acknowledged an issue with broker attrition and sought to reassure the Thundering Herd that the wirehouse is focused on retention and making Merrill the firm “of choice.”
Louis Diamond Quoted – By Diana Britton, WealthManagement.com – Merrill Lynch Wealth Management revealed details Monday about its new advisor development training program, with perhaps the biggest change being a ban on cold-calling that will apply to the entire Thundering Herd.
Louis Diamond Quoted – By Miriam Rozen and Mason Braswell, AdvisorHub – A senior Merrill Lynch executive on Thursday underscored that the firm plans to selectively hire veteran brokers in some key markets in the coming months, a sign headhunters read as a thaw in the brokerage’s three-year retrenchment from veteran broker recruiting.
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