Merrill Lynch, Pierce, Fenner & Smith Inc
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Learn more about Merrill Lynch, Pierce, Fenner & Smith Inc
Overview
Merrill Lynch, Pierce, Fenner & Smith Inc is located at One Bryant Park, New York, NY. The firm employs 26,251 financial advisors to manage client portfolios and provide financial guidance. Merrill Lynch, Pierce, Fenner & Smith Inc is a registered broker-dealer.
Merrill Lynch, Pierce, Fenner & Smith Inc oversees $1.3 trillion in assets under management across 2,911,578 accounts, of which 730,188 are discretionary and 2,181,390 are non-discretionary. The services offered include portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars, and other services. The firm caters to retail investors, high net worth investors, banking institutions, pension plans, charitable organizations, state or municipal government entities, insurance companies, and corporations, with retail investors being the largest client type by accounts. The fee structure at Merrill Lynch, Pierce, Fenner & Smith Inc includes asset-based, fixed, and commission-based fees. The firm has 411,703 high net worth clients and maintains affiliations with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant, and real estate broker or dealer.
Merrill Lynch, Pierce, Fenner & Smith Inc is registered in the states of Alabama, Alaska, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Merrill Lynch, Pierce, Fenner & Smith Inc by the Numbers
$1.3 trillion
34,934
2,911,578
$436.7 thousand
Products and Services
Merrill Lynch, Pierce, Fenner & Smith Inc offers multiple services, which can consist of portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars, and other services. However, Merrill Lynch, Pierce, Fenner & Smith Inc did not provide financial planning services to any of its customers in the previous fiscal year. The Firm does sell products or offer services aside from investment advisory services to its customers.
Core Advisor Services
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Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
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Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Offered by 6% of firms
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
A financial advisor's fees typically depend on which services the firm provides the client. Fees billed by Merrill Lynch, Pierce, Fenner & Smith Inc most likely include some blend of the following fee structures: asset-based, fixed, or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are provided by Merrill Lynch, Pierce, Fenner & Smith Inc.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 1% of firms
Commissions
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The company does business with a broad range of clients. It works with retail investors, high net worth investors, banking institutions, pension plans, charitable organizations, state or municipal government entities, insurance companies, and corporations. Out of its 8 clients, Merrill Lynch, Pierce, Fenner & Smith Inc's largest client group by number of accounts is high net worth investors, but it also manages money for 411703 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of more than $1,50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments).
- High-Net-Worth Individuals* - 25.19%
- Other Individuals - 72.21%
- Corporations - 2.33%
- Charitable Organizations - 0.27%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Disclosures
Merrill Lynch, Pierce, Fenner & Smith Inc does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Merrill Lynch, Pierce, Fenner & Smith Inc
Scottsdale, AZ
Salt Lake City, UT
Los Angeles, CA
New York, NY
Palm Bay, FL
Saint Petersburg, FL
Cedar Rapids, IA
East Lansing, MI
Boca Raton, FL
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