Michael Hayes

Merrill Lynch Contemplates $100,000 Household MinimumPolicy would end payout on transactional business in smaller accounts.Merrill Lynch is considering a new policy requiring a household to have at least $100,000 in...

Merrill Lynch brokers appreciate the fact that the Merrill brand name is instantly recognized, and its research is respected. "The best thing about Merrill is that it has a tremendous image and presence," says one...

Another former Salomon Smith Barney broker has won back the money in his deferred compensation package. In October, an NYSE arbitration panel in Providence, R.I., ordered SSB to pay former producing manager Joel...

Although First Union Securities producers like their independence, their "ownership" of accounts and the lack of pressure, they remain frustrated by a back-office crunch that ensued after Everen Securities' Chicago...

Training period to go five years. Financial plans still required.Starting in January, Merrill Lynch will stretch out the amount of time broker trainees spend in its Professional Development Program (PDP) to five years...

Mother and daughter are building a business by helping divorced women take control of their finances.Long before wirehouses launched mentoring programs to match fresh-faced producers with seasoned veterans, Corinne...

Corporate cost-cutting spills over to branches, dampens enthusiasm.Merrill Lynch brokers are applauding the firm's cost-cutting measures, including 1,800 layoffs in the brokerage division to reduce the "bloated...

Firm says 75% of brokers who stuck around will collect $100,000 or more.In February, an undisclosed number of Merrill Lynch reps will begin receiving $100,000 checks from the firm. The bonuses were promised to brokers...