Bank of America, Merrill Lynch’s parent, is considering dissolving Merrill Lynch in Q4 just short of its 100th anniversary. Though the brand will remain and no negative impact is expected on advisors and their clients, Merrill Lynch will not exist as a separate entity if the plans go through.
While it's mostly a legal move to make filings less complicated, some advisors are lamenting the decision. On the other hand, however, integration could make cross-selling and integration of clients’ accounts between the bank and brokerage firm simpler.
While its purchase by BoA seemed to save Merrill Lynch during the financial crisis, the brokerage firm appeared to fortify BoA after the acquisition as the bank struggled with bad loans and debt.
