Merrill’s AUM Spikes as Bank Deposits Dip

Merrill Lynch Wealth Management saw its assets under management increase nearly $70 billion in the first quarter to approach $1.5 trillion, as executives assured the industry that the business remained in good hands following the departure of former wealth management chief Andy Sieg last month. The wirehouse will also continue to nudge its clients to tap into bank products, said Craig Kilgallen, a relationship manager at FUSE Research.

For the complete article, click here (subscription required).

Article published on April 19, 2023