Quantcast

Merrill Shocks, Says it Will Stay in Broker Protocol


Shutterstock photo
Merrill Shocks, Says it Will Stay in Broker Protocol

(New York)

In what came as a real surprise to many in the wealth management business, Merrill Lynch announced yesterday that despite its rivals Morgan Stanley and UBS leaving the broker protocol, it would stay in. The giant wealth manager had to weigh two big factors in deciding-how much being "in" facilitated losing their advisors to rivals, versus how much it helped in recruiting new ones. In the end, it seems that the attraction of being "in" for new recruits was greater than the downside of losing them.

FINSUM : With Merrill Lynch staying in, it looks like the broker protocol will not completely dissolve. In our mind, it seems equally likely that UBS and Morgan Stanley return within a year (having seen it is hard to recruit), or Merrill Leaves.

  • merrill lynch
  • broker protocol
  • Morgan Stanley
  • UBS

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Wealth Management


More from FINSUM

Subscribe






Contributor:

FINSUM









Research Brokers before you trade

Want to trade FX?





Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com