Merrill Lynch and At Least One of its Top Brokers Face …

Jul 31, 2020 · The New Hampshire Bureau of Securities Regulation is reportedly investigating Merrill Lynch and Charles Kenahan, one of its top-producing brokers, over — July 31, 2020 ...

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Merrill Fined $950K After Flawed Supervision Allowed Two Brokers …

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Dec 21, 2021 · In August 2012, it had censured and fined Merrill $450,000 for that issue, after one of its registered representatives converted $887,931 from 13 customer accounts, the letter said.

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Merrill Lynch To Pay $20M To Settle Racial Discrimination Case

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May 30, 2024 · Bank of America subsidiary Merrill Lynch will pay nearly $20 million to resolve a class-action lawsuit alleging it discriminated against advisers of color.. The lawsuit, filed in …

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Merrill, Pershing Victory In Arbitration Over A Hedge Fund Nets ...

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Mar 31, 2023 · A nearly $3 million FINRA award to a Merrill Lynch subsidiary and two other leading broker-dealers underscores the risks advisors and investors run when they short the …

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Attorney: Brokerage Giant Settles Discrimination Lawsuit

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Aug 28, 2013 · CHICAGO Lawyers for hundreds of black financial advisers have reached a $160 million settlement in a lawsuit accusing Wall Street brokerage giant Merrill Lynch of racial …

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BofA's Merrill To Settle Racial Bias Suit For $160 Million

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Aug 28, 2013 · At the time McReynolds filed the lawsuit, 2 percent of the brokers at Merrill Lynch were black, despite a 30-year-old consent decree it had signed with the U.S. Equal …

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Merrill Lynch Agrees To Settle Allegations Of 1.5 Million

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Jul 6, 2024 · Merrill Lynch agrees to pay nearly $1.5 million to settle allegations that its representatives executed transactions resulting in unnecessary fees for over 1,300 customers. …

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Merrill Lynch Competitors In 2025 - Brokerage Reviews

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Jan 8, 2025 · However, it offers traditional management services starting at 0.45% with a $5,000 minimum. For face-to-face financial advice, available at many Bank of America branches, the …

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2022 Comp: Merrill Sweetens The Pot For Brokers Taking On …

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Oct 27, 2021 · Merrill is also keeping unchanged the breakpoints in its core cash grid that pays brokers 34% to 50% of revenue but will adjust how it calculates brokers’ payout level. Under …

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Merrill’s Sieg Nods To ‘Competitive’ Attrition Issue In Call With ...

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Jul 15, 2021 · The broker, who has spent his career with the firm, pointed to Merrill’s decision in 2018 to withhold payout on the first 3% of brokers’ revenue and to the “growth grid,” a sticks …

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Growth Grid: 60% Of Merrill Brokers Scored Higher Payouts In 2021

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Jan 5, 2022 · Under the growth grid, which Merrill kept in place for 2022, brokers must add at least three net new households per year to maintain their current pay or face a 100 basis point …

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FAQs about Merrill Lynch and At Least One of its Top Brokers Face … Coupon?

What's new at Merrill Lynch?

Starting January 1, Merrill is ending a penalty that was put in place in 2018 and reduced payout on accounts transferred from a departing broker by 50% for the first year and will instead pay the assigned broker on the full amount of revenue those accounts had generated, the executive said. ...

How many brokers will be affected by Merrill Lynch's pay change?

Merrill Lynch didn’t comment on the number of brokers it expects to be affected by the pay change in July. Some employees estimated it would at least be in the hundreds. Photo: Johnny Green/PA Wire/ZUMA Press ...

How did Wells Fargo & Merrill Lynch deal with the SEC?

The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the only cash sweep option for most advisory clients and received a significant financial benefit from advisory client cash in the BDSPs. ...

How much does a Merrill Lynch mutual fund cost?

Charles Schwab takes the lead in customer support. Merrill Lynch offers 3,368 mutual funds, with 791 being no-transaction-fee funds. Transaction-fee funds cost $19.95 per trade. Charles Schwab has a higher transaction fee of $49.99 but offers a broader selection with over 6,500 mutual funds, including 4,200 with no transaction fees. ...

Is Merrill Lynch better than Charles Schwab?

Merrill Lynch offers 3,368 mutual funds, with 791 being no-transaction-fee funds. Transaction-fee funds cost $19.95 per trade. Charles Schwab has a higher transaction fee of $49.99 but offers a broader selection with over 6,500 mutual funds, including 4,200 with no transaction fees. Charles Schwab is preferred for mutual funds and ETFs. ...

Did Merrill Lynch discriminate against black women?

Two veteran Merrill Lynch advisors, both Black women, filed on Friday a proposed class action against accusing the brokerage and its Bank of America parent of discriminating against African Americans and women with its succession planning, teaming and account distribution policies and practices. ...