Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S.

Bank of America’s brokerage unit reported strong growth, as did the company’s private bank, as executives are emphasizing ...

Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay ...

Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and ...

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...

“Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs, or BDSPs, as the only cash sweep option for most ...

Regulators took the wirehouses to task for not having policies directing advisors to consider clients' best interests.

In the case of Morgan Stanley, the wirehouse wants its financial advisors to increase their banking relationships with ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...

Instead, all portfolios invest at least some of your money in cash, which is put in a Merrill Lynch direct deposit program yielding a solid 4.20%. You can access more account services, like banking ...

Bank of America’s wealth management division, which includes Merrill Lynch and the company’s private bank, saw core financial metrics rise in 2024, including net income of $4.3 billion ...