Merrill Lynch veteran picked to replace Racquel Oden at Manhattan flagship office

Matt Grossman, who has worked at Merrill for 28 years, will supervise 200 brokers and advisers at the firm's Fifth Avenue office .
JAN 26, 2018

Merrill Lynch has tapped firm veteran Matt Grossman to head its flagship Fifth Avenue branch in Manhattan. Mr. Grossman replaces Racquel Oden, who left the firm in December. The branch has 200 brokers and financial advisers under its roof. Earlier this month, InvestmentNews​ reported that Ms. Oden will be divisional director of the Northeast for JP Morgan Chase. Mr. Grossman started his career with Merrill Lynch 28 years ago as a financial adviser in Florida, according to a memo sent to advisers Friday morning. Since then, he has had several management jobs at the firm. Since 2006, Mr. Grossman has been market executive for the Westchester, N.Y., and Greenwich, Conn., complex of Merrill Lynch offices. He "has been instrumental in driving growth in Westchester-Greenwich, [and] expanding the market to include seven offices" with 190 financial advisers and portfolio managers, according to the company memo.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave