Miriam Rozen

2 days ago | advisorhub.com | Miriam Rozen

Two career Merrill Lynch advisors, both Black women, have settled a proposed race-based class action discrimination lawsuit brought in November, according to a court filing on Friday. Linda G. Davila, a 44-year veteran in New York, and Cathy L. Bender, a 36-year broker in Nashville, had accused 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.

1 week ago | advisorhub.com | Miriam Rozen

Andy Sieg, who left Merrill Lynch two years ago to lead Citi Wealth, is winning more kudos as Citi Chief Executive Jane Fraser on Wednesday credited him for rising revenue and earnings at the division.  The team of external hires Sieg has assembled and the product and investment services that he has added have given the wealth division “real horsepower and firepower,” Fraser told analysts on the company’s first quarter earnings call on Tuesday.

1 week ago | advisorhub.com | Miriam Rozen |Mason Braswell

Bank of America is making steady progress towards its ambition of more closely tying its Merrill Lynch retail brokerage unit with its consumer bank, executives said on Thursday. Around 62% of Merrill customers now have a relationship with Bank of America, according to the bank’s first quarter earnings on Tuesday. The portion of clients is now “approaching two-thirds of the client base,” Chief Financial Officer Alistair Borthwick touted on a conference call with analysts.

1 week ago | advisorhub.com | Miriam Rozen |Karmen Alexander

Wells Fargo’s Wealth and Investment Management division posted rising revenue and profit in the first three months of the year, but executives warned on the company’s earnings call that that uncertainty looms.

2 weeks ago | advisorhub.com | Miriam Rozen

Trump love or hate has surfaced often in the past week during advisors’ conversations with clients about the recent market volatility. Advisors in both red and blue counties have been drawn into politics as they seek to quell customer concerns about President Donald Trump’s global tariffs and the ensuing $5 trillion three-day sell-off in U.S. equities.