A memo to Merrill Lynch brokers and customers from an executive who's walked in Sallie Krawcheck's shoes
The brokerage chief's departure last week marks the end of the experiment of a semi-autonomous Merrill Lynch
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September 1, 2022 at 5:11 AM
Cory Binsfield
For the record, the cross selling started as soon as Merrill was rescued by BOFA. Worse, wirehouse brokers are employees not business owners. This is why the independent/RIA model continues to expand. Fortunately, clients are finally discovering that being with a big firm does not ensure you are getting the best advice. If Merrill and Lehman could not manage their own finances, how can they manage their clients?
Ron Edde
The exodus is about to begin.
Ron Edde
Executive Recruiter
760-583-4806
