Merrill's recruitment pipeline has been a busy over the past week or so, reeling in several experienced wealth managers from rival firms.
The wealth management subsidiary of Bank of America said it has welcomed a number of top-ranked teams and seasoned veterans to its stable across two key Sun Belt markets, California and Florida, adding more than $1.5 billion in client assets in the process.
On Wednesday Kevin Ou and Michael Baghramian joined Merrill’s Los Angeles market, which is led by market executive Matt McCormack. Previously with Morgan Stanley, the team manages $700 million in client assets. They are joined by client associate Hilary Hughes. Together, they have reaped several Best-in-State honors from Forbes, including team accolades from 2022 through 2024 as well as an individual next-gen wealth advisor recognition for Baghramian.
Also in Los Angeles, Merrill added Elana Ginsburg to its Century City office last week, where she became part of Merrill Private Wealth Management under the leadership of regional managing director Jeff Wood. Ginsburg, who also came from Morgan Stanley, brings 15 years of industry experience and manages $660 million in client assets.
Those moves in Los Angeles come on the heels of another elite $2.2 billion Morgan Stanley team, led by a 30-year industry veteran, that joined Merrill earlier this month.
Meanwhile in Florida, Jeremy Burch joined Merrill’s Miami & Island market, led by market executive Jerry Castro. Burch, previously at Wells Fargo, is a 23-year industry veteran and manages more than $200 million in client assets. He is joined by teammates Jeffrey Burch and Karen Trinidad.
Earlier this year, Merrill also bolstered its Florida footprint with a multibillion-dollar JPMorgan team that joined its Palm Beach Gardens office.
Based on the most recent available disclosures, Merrill's advisory network includes 19,000 financial advisors providing a range of services for a clientele of mainly high-net-worth and ultra-high-net-worth individuals, with AUM totaling over $2.75 trillion.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Two C-level leaders reveal the new time-saving tools they've implemented and what advisors are doing with their newly freed-up hours.
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
