At least 50 advisors who managed nearly $12 billion in client assets at Merrill Lynch have left the "thundering herd" since January 1, based on moves tracked by Reuters.

Many were veteran brokers that are hard to replace and who managed large sums of client assets at the firm. Reuters tracks the movement of advisers and teams managing a minimum of about $100 million in client assets. Such advisors or teams typically generate $1 million or more in revenue annually.

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