As Merrill Lynch begins to roll out a new single platform for its managed accounts, the conversion will usher in a change that Lorna Sabbia, head of the firm’s Managed Solutions Group, has been hearing advisors request for 18 years.

That change will allow the firm’s 16,000 plus financial advisor force to use a single fee arrangement regardless of which of the firm’s platforms the client is invested in. Currently, there is a different fee structure for clients on the separately managed accounts platform, mutual fund wrap program, rep as portfolio manager program, rep as advisor program and unified managed account platform.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access