Louis Diamond Quoted – By Miriam Rozen, AdvisorHub – Wirehouse brokers are almost always cynical about the changes their firms make to their compensation calculation each year, but Merrill Lynch’s 2024 plan appears to have garnered a relatively positive response.
Louis Diamond Quoted – By Karmen Alexander, AdvisorHub.com – Pine Valley Investments, a Marlton, New Jersey-based registered investment advisory firm, has picked up a Merrill Lynch broker who had been part of a team generating $3.8 million in annual revenue from $500 million in client assets.
Louis Diamond Quoted – By Jeff Berman, ThinkAdvisor – Citi’s courting of Sieg seems to be a sign that it means business — meaning a major return to the U.S. wealth management business, according to Louis Diamond, president of Diamond Consultants.
Mindy Diamond Quoted – By Victoria Zhuang, Financial-Planning.com – Merrill Lynch will not offer a way for financial advisors to independently affiliate with the Wall Street giant, even as industry competitors open up that burgeoning business model, Merrill’s wealth management head said Thursday.
Louis Diamond Quoted – By Glenn Koch, Financial Advisor IQ – Merrill Lynch has added a suite of pre-approved products to its dual-contract program that the wirehouse says will help advisors better cater to high-net-worth clients.
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.
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.
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.
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 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.
