Merrill Lynch, Pierce, Fenner & Smith Inc
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Overview
Merrill Lynch, Pierce, Fenner & Smith Inc operates as a financial advisory firm that has its headquarters in New York, New York. The company has $1.1 trillion in assets under management across 2.9 million customer accounts, placing it among the biggest financial advisory firms in the United States by assets under management (AUM). Merrill Lynch, Pierce, Fenner & Smith Inc has a very large group, including 25,573 financial advisors. Merrill Lynch, Pierce, Fenner & Smith Inc is not a registered broker-dealer, meaning the firm is not able to buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are defined as tradable financial assets such as bonds, options and equities.
Merrill Lynch, Pierce, Fenner & Smith Inc oversees 752,939 of its accounts in a discretionary manner. Discretionary management means that transaction judgments for the client's account are made by a portfolio manager without needing client permission. Merrill Lynch, Pierce, Fenner & Smith Inc also oversees 2,111,295 non-discretionary accounts with a total of $789.0 billion in assets under management. The firm oversees roughly $380,555 in assets for every customer account. The typical advisor at Merrill Lynch, Pierce, Fenner & Smith Inc manages about 112 client accounts.
Merrill Lynch, Pierce, Fenner & Smith Inc's main office is at One Bryant Park, New York, New York 10036. It is allowed to provide services to clients across 48 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Merrill Lynch, Pierce, Fenner & Smith Inc by the Numbers
$1.1 trillion
36,687
2,864,234
$381.8 thousand
Products and Services
Merrill Lynch, Pierce, Fenner & Smith Inc provides a number of financial services, including portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers and other services. The firm is engaged in selling products or offering services different than investment advice to its clients. Merrill Lynch, Pierce, Fenner & Smith Inc is also affiliated with one or more other service providers in the financial services industry, including 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.
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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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees for financial advice vary depending on which services are provided. Fee types billed by Merrill Lynch, Pierce, Fenner & Smith Inc most likely are comprised of some blend of the following fee structures: asset-based, fixed or commission-based. Merrill Lynch, Pierce, Fenner & Smith Inc does participate in a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.
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
Merrill Lynch, Pierce, Fenner & Smith Inc manages money for a number of different customers. The firm caters to retail investors, high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, other investment advisers, insurance companies and corporations. Out of its 2,864,234 clients, Merrill Lynch, Pierce, Fenner & Smith Inc's largest client type is retail investors, although it also caters to 368,690 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's customers reside abroad.
- High-Net-Worth Individuals* - 23%
- Other Individuals - 74.36%
- Corporations - 2.36%
- Charitable Organizations - 0.28%
* 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
New York, NY
Middletown, NY
Summit, NJ
Temecula, CA
Houston, TX
Los Angeles, CA
Jacksonville, FL
Pennington, NJ
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