The level of trading was unsuitable for the client given her age, risk tolerance and income needs, according to the regulator.
The wirehouse will break out fees for asset management services and products including mutual funds, alternative investments and commodities when it mails January account statements later this week
Bank's wealth management unit reports higher earnings on lower revenue.
DOL rule could prompt some advisers to move ahead of time — and others to stay put until they gauge rule's impact.
The firm will make “many” of the pricing and product design changes it planned last year, according to a memo sent to employees.
The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
Picks up two Merrill Lynch groups with nearly $2 billion in assets; more deals might be on the horizon.
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
Says wirehouse overbilled investment advisory clients due to coding and other billing system errors.
That rule is intended to safeguard clients' cash and securities so they can be promptly returned should the broker-dealer fail.
Advisers produced average annualized revenue of $1 million in the period.
This is at least the second time this fall that Merrill has had a high-profile termination over improper expense reporting.
From incubator relationship to back-office service provider.
Brokers will be expected to provide two referrals a year to the bank or face a 1% penalty on their payout. <b><i>(More: <a href="//www.investmentnews.com/article/20161011/FREE/161019987/morgan-stanley-sales-contests-among-advisers-didnt-help-clients"" target=""_blank"" rel="noopener noreferrer">Morgan Stanley sales contests among advisers didn't help clients</a>)</b></i>
First-quarter volume was up 11%, in part because of president-elect's frequent social media activity
Multiple forces are driving industry consolidation.
The deal is the latest example of the finance industry working with technology firms that provide services the old guard can't easily replicate.
Veteran adviser manages $170 million in client assets.
