“Mr. Steffens may be best known at Merrill for his vision about the future shape of the brokerage industry. More than a decade ago, he began pushing Merrill brokers not just to handle trades, but also ...

“The experience is that when brokers leave they take 65% of their book,” Gorman told RR at a gathering of reporters in the firm’s offices at 717 Fifth Ave. in Manhattan this morning.

Merrill Lynch closed the third quarter with $3.5 trillion in client assets, up 18% from the same period in 2023. Bank of America’s private bank posted comparable growth, ending the third period ...

Total client balances at Merrill and the private bank were $3.55 trillion, up 11% over the past year's $3.2 trillion — partially helped by higher market valuations in recent months, as well as ...

Merrill's 6,500 client associates are in many ways the backbone of lucrative wealth-management teams, staying in close contact with clients who are promised great service when they start investing ...