“Not solely are the colours of the financial institution's flag on the backside (entrance) of the cardboard, however the Merrill Lynch bull is getting smaller,” stated one veteran Merrill Lynch adviser, who is predicated in New England and had been with the agency since earlier than the Financial institution of America merger. “It's totally uncomfortable.” One other Merrill Lynch adviser of greater than 20 years stated that he stated that Financial institution of America was beginning to tackle an even bigger presence than the Merrill Lynch bull.
He additionally spoke on situation of anonymity. “There is a large contingent of Merrill Lynch brokers that hope there'll at some point once more be a MER on the inventory trade,” stated Danny Sarch an business recruiter with Leitner Sarch Consultants. “And [any intimation that Bank of America is taking over] does not make them really feel heat and fuzzy.” It's onerous to gauge the scope of reactions as a result of not all advisers had seen the playing cards, that are being rolled out as advisers request new playing cards.
It has been greater than 5 years since Financial institution of America Corp. acquired Merrill Lynch & Co. Inc., however a number of the agency's “thundering herd” of brokers nonetheless soar at the specter of any adjustments to the Merrill Lynch identify. A brand new tweak to Merrill Lynch advisers' enterprise playing cards earlier this 12 months was all it took to trigger a stir amongst some model loyalists among the many agency's roughly 13,700 advisers. A number of present and former Merrill Lynch brokers and business recruiters pointed to 2 key adjustments: the shrinking of the enduring Merrill Lynch bull on the entrance of the playing cards and the addition of a crimson and blue strip on the backside symbolizing Financial institution of America's two-tone flag.
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