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Issues in Merrill Lynch s massive pipeline for financial advisors are weighing on trainees morale.
Advisors in training have faced months of mixed messaging about prospecting, people say.
Bank of America s wealth management unit is among the largest in the US, overseeing trillions.
Restrictions on Merrill Lynch Wealth Management financial advisors in training are stretching into a ninth month and have shown no signs of lifting.
An unprecedented pause on reaching out to prospective clients has hurt trainee morale and added frustrations in a program where building a book of business is critical to success. The firm has fired a handful of trainees for violating the terms of the pause since it went into effect last July.
Great Bend native
Bob Moore, a Merrill Lynch Wealth Management Financial Advisor in Wichita, was recently named to the 2021 Forbes “Best-in-State Wealth Advisors” list.
Moore has made the list three years in a row, and he has also been recognized on the Barron’s Top 1200 Financial Advisors and as a Registered Representative Magazine Outstanding Broker Award Top Ten.
Moore is Senior Resident Director as a manager at his firm, Moore Wealth Management Group. He also is a CFP, ChFC, and CRPC. He began his career in the financial services industry with Merrill Lynch Wealth Management in 1983. He works closely with individuals and businesses to help them define and pursue their financial goals.
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A year from the pandemic s start, recruiters tell Insider many advisors are contemplating moves.
Rival wealth managers are continuing to poach from each other as they bolster their own forces.
Private equity investments are increasingly a consideration among advisors, two recruiters said.
The perennial and competitive battle for talent between rival wealth managers is set to ramp up, as vaccine roll-outs give financial advisors the confidence to start networking and meeting with clients in person again.
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Risk staff
Alejandro Nicolas Aguzin as its new chief executive, to replace
Charles
Li who is stepping down after 10 years in the role. Aguzin joins from JP Morgan, where he is currently chief executive officer (CEO) of JP Morgan’s international private bank and a member of the operating committee for the firm’s asset and wealth management business.
Aguzin has been with the US bank since 1990 in a variety of senior management roles across various jurisdictions. Between 2012 and 2020, Aguzin was CEO for Asia-Pacific, where he oversaw and led JP Morgan’s growth in China and the broader region. Aguzin has also served as head of investment banking for Asia and CEO of JP Morgan Latin America.
Wall Street needs to come clean on diversity data
Opening up the books will put pressure on companies to hire more women and also allow the industry to acknowledge the firms that succeed. There’s no reason for companies to keep investors in the dark about diversity.
March 9, 2021 2 MINS
Fintech has a gender diversity problem and it’s no secret. Women make up just 7% of the global fintech founders, according to a recent study by Deloitte, and women-led startups raise 50% less capital than their male peers. With less access to funding, women are less likely to find solid footing into the fintech community.