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Jun 3, 2010 10:01 am

As ML dives into the online brokerage space with free trades and contact points at Call Centers rather than via FAs, what do you see this doing to your book? Especially if you are a legacy BAC rep with a lot of clients below the 250k line?

Jun 3, 2010 10:38 am

it aint good.

Jun 3, 2010 7:04 pm

What's not good about it? It's not like that same client doesn't already have the option to go to ETrade, Schwab, etc already? Why not at least have the ability to get credit for the PC's the client generates and then also have linked statements, sweep in an out of the account and allow the advisor to view the account balances?

It's not as if they option for discount trading doesn't already exist right? AND on top of that, the free trades are only if they have over 250k with BofA/Merrill so the assets become sticky as the free trades are a perk. Someone wants to roll a 401k but keep their play money at TDAmeritrade....well how about you move the play money to Merrill Edge and then we can monitor your safe retirement money while your play money gets to trade for free.