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Is Merrill Schizophrenic?

By Mark H. Astarita, Esq.

Less than a year ago Merrill Lynch was chasing its brokers out the door with a transition bonus that was so low it was insulting for anyone producing less than a million dollars a year. Readers will recall that many Merrill Lynch brokers were faced with the choice of remaining at Merrill and taking something less than one times trailing 12 to stay, or leaving Merrill and taking something more than two times trailing 12 to leave.  I discussed the problems with the retention in the post Merrill's Retention Bonuses Come In Low.It was not a difficult choice for many brokers, and they left. Undoubtedly, Merrill structured the retention bonus to entice the small producers to leave, as it seems that firms have decided that anyone producing less than $750,000 is not worth the trouble keeping...continue to full post

Full post as published by SECLaw.com on August 12, 2009 (boomark / email).