35 Burst results for "Merrill Lynch"
What 9/11 Did to One Family
"Is one the thousands of people who lost someone. They love on september eleventh. Two thousand one twenty years ago now. Big brother bobby. Mcilvaine died that day in new york city at the age of twenty six. He was like reaching out insane. I want to show you my office and was specifically onto the because it was the last time i saw. He told this story to atlantic staff writer jennifer senior. Who wrote about the mcilveen for the atlantic magazine. How did this story come into your life. Well i mean the most obvious way it came into my life is that i knew bobby mcilvaine. He was my brother's roommate in college. He was my brother's roommate in new york city. When they were young then starting out. I would visit my brother at princeton. Bobby would be there and he would. Just be ridiculously precocious charming. He wanted to be a writer. But one of the things that bob learned early in his life in publishing is that a lot of people in publishing came from upper middle class families. They had cushions of money beneath their toes. And bobby's family didn't have that kind of money and bobby knew. He wanted to make a living and so he went into corporate. Pr after two years of being in book publishing. And that's how bobby ended up working for merrill lynch and going to work conference on one of the top floors of the north building of the world trade center on the morning of september eleventh. I went down had coffee and was going over my work like many americans on that morning. Bobby's mom. Helen was starting workday as a teacher and they had the tv set on in every classroom. And i my knees buckled and light. I had to be helped. Bobby's dad bob senior. Also a teacher at the time was also at work. It was on tv. I call home. Of course i try to bobby. We get colon now. The phone was ringing. No one could reach bobby. His parents is friends his girlfriend or his brother. Jeff
Tokenisation of Assets and Potential Implications for Financial Markets
"Iota. Welcome to injure blogs. Could you please give our listeners. A quick introduction on yourself. Hey thank you very much for the invited. Sa- great pleasure to be here today and to participate to the ensure block series of discussions. I do hope today's is an interesting one and then informative one for your listeners. And let me just also mentioned that i i personally admire your rebalance airs project and i find it an extremely worthwhile and timely project so kudos for that in terms of my personal background. I've started my career as an investment banker. in london. i worked for the desk of merrill lynch for my analyst years and citigroup for my associate years and then i switched to the policy space and joined the oecd where spent the past almost nine years now working for the committee on financial markets Over the past couple of years of the committee has set up a working level group on an informal setting. it's the expert group on financial digitalization and comprises representatives of central banks finance ministries treasuries and other financial authorities or varsity eight always de members. And this group looks into fintech related matters in financial markets and their policy implications including the area of blockchain in finance. So this is a bit of my background and let me just also give the usual disclaimer. That's of i express here. Today are my own views.
"merrill lynch" Discussed on Wealth Management Today
"A lot of things so you had written something on on one of your many many content distribution platforms. I think it was forbes. Were you you were talking about the new digital thundering herd and why advisors and wealth managers shouldn't are over focusing on millennials. You want to expand on that shirk shirks. This is one of my very favorite topics because I think that You know. I founded my firm almost thirteen years ago around. The idea of millennial is in your brand. The idea there was that there are so many old tired wealth management brand whether their bank brands are a technology brands everyone in the ecosystem. A lot of really old brands. It didn't resonate with younger. Investors and so The idea there. I think is still relevant to appeal to a wide range of investors and buyers today Even tech vendors right selling to a younger age person so the idea that your brand needs to resonate across multi generations is still really valid. I think this whole idea really went awry was in terms of over segmentation in other words. People thinking these products are these services are for millennials so enter robo advisor for example Millennials are digital millennials went online trading. Eleni went online portfolios millennial millennial while when you dig down into it you can find out that it's really not about money. Also for example The cap gemini world wealth report year-over-year produced statistics saying that the highest digital adoption is really among ultra high net. Worth baby boomers and it stands to reason right. Why because they are generally mall formerly right global and who thinks that they are not really digitally savvy. of course they are and so. It's no surprise to me. But i think that people miss an opportunity by over segmenting and thinking too narrowly about digital offerings Similarly the piece that you're talking about With their frank kabeer sethi Merrill lynch says that eighty five percent of their clients in the ten million plus cohort where the fastest and quickest to digital adoption So i think that You know it really flies in the face of what people are thinking. So there's no reason over segment you wanna have a lot of different entry points but no reason to say you know this product or the service really is for millennials this fund you know ahead of international limits as for women for example. This one is for this other narrow cohort or segment. It's better to just have multiple entry points and let the people choose the numerous times and it's not just their age that defines what investors looking for from their wealth manager. It's really about behavior right so You know you. And i could be jax. Could be baby boomer. But we're really more digital leaning Brought up your kids. So i have two sons. One of my kids is very Digitally or into when it comes to financial advice and the other one's not so big nineteen based on age really doesn't work. I reminds me sort of chinese astrology. Like you're born in europe. The dog and that means that everyone in that year is the same. We know that. That's not true I'm sure much of your audience You know men and women both realized that women are not all the same and so women are cannot be unleash having products oriented to women especially when they're represent fifty one percent of the population doesn't really work either that was lost on a lot of firms that started up their female only targeted robo advisers whether firms that just didn't make it a lot of traction because they didn't realize that that's not it's not a thing it's not a thing. It's not a niche right. I've been writing about that for a lot of years. Also i mean how can there be products that goto actually in not only new. But you know..
"merrill lynch" Discussed on 600 WREC
"Edge dot com slash within. Reach. Merrill Lynch, Pierce, Fenner and Smith incorporated registered broker dealer member s I P. C. Vickie Ferguson this year from Fox, six snow making after the storms last night, no watches or warnings this morning are there. That's exactly right. J T. So even if you're getting some shower activity and some of our Southern counties that early this morning, there are no warnings. No watches posted and we could end up getting some showers later on today, but no severe storms But highs today in your 69 degrees a chance of showers later on lows tonight near 50 and 40% chance of rain on Wednesday as well with highs in the low Sixties on Wednesday from the W B R c first Solar Weather Center. I'm Mickey Ferguson for Alabama's Morning news and right now we've got some sunshine and 56 sit NewsRadio 1055 w. E. R C 7 23. It's Sal Obama's morning news. I'm JT enjoining south from the center point. Fire department captain Chris for news. Over logistics in that area there, Chris welcome. And thanks for being with me. Maurin J. Take So, Yeah, Rough one last night, folding Dale of Tornado whipping through center point as well. One person understand? Unfortunately lost their life in this unfolding dale, but damage everywhere. I wanted to get in touch with you. And I'm sure it's been a long, busy night for you guys there in center point. So what can you tell us far what you've seen.
"merrill lynch" Discussed on KOA 850 AM
"Reach. Merrill Lynch, Pierce, Fenner and Smith incorporated registered broker dealer member s I P c. I'm John Morrissey on K Away News Radio Live everywhere on the I. Heart radio at Fox 31 pinpoint whether windy, low 20, Sonny and mid forties through the weekend. It's 33 degrees. Mayor Hancock says Denver is prepared for possible armed protests at the state Capitol starting as early as this weekend and running through the presidential inauguration. And while we expect people's First Amendment rights and peacefully assemble, we expect people do so lawfully, which endeavor means you cannot open, carry a weapon and concealed carry is only allowed if you have a permit. The mayor says the city will do all it can to stop violence as well as the destruction of property. Ah first court appearance today in federal court in Denver for cleans Keller, the former Olympic swimmer and Colorado Springs Realtor accused of being part of the U. S Capitol protest. Keller agreed to return to court for future appearances but was ordered to surrender his passport. He also has to stay in Colorado but will be allowed to see his kids in North Carolina once a month. Ah construction worker has died in a trench collapsed today in Greeley. The accident happened in a dirt trench in the 1100 block of North 35th Avenue. The man's name not released. Jefferson County Public Health says starting next week some Safeway and King Soopers pharmacies will be able to vaccinate people 70 and older Jeffco says. You may need week 2 to 6 weeks for an appointment Info available on their website Jeff Co dot us back slash covert Dash vaccine Nearly a million Americans filed for first time jobless claims last week Within the hour, President elect Joe Biden will lay out his plan to prop up the economy on Wall Street. Today, the Dow was down 69, the NASDAQ lost 16 S and P 500 dropped 14. In sports were just in that urban Meyer has been hired as the head coach of the Jacksonville Jaguars. The Nuggets will play the Warriors tonight in Denver. Our next news updated 5 30. I'm Cathy Walker on K Away News Radio. 8:50 A.m. and 94 1 have found it's a brand new year and have Earth. He's furniture is here to help you keep your resolutions. Why not? Listen to your custom playlists in a chair custom made for you Trade your old coffee table for one that doubles as a dining table. Update your sofa for one with building US people. Courts or try a new mattress..
A Conversation with Whitney Johnson
"Whitney. Welcome to the show andy. I am delighted to be here. I'm excited to to talk to you. Because i liked your book a lot. So you know some and we didn't write for sales audience per se but as a lot of very sales specific stuff in there. I thought at least maybe the lens. I read it so i can't wait to chat with you about it but one thing i wanted to ask sign. Hopefully you're well. Were recording this in the midst of the the lockdown sidano omit the formalities. But we are well for asking. I mean it's one of those questions that it used to be just a nice city but it's now a real question is a real question right. What's good and you're joining us from where we live in lexington virginia so my my husband is a professor at southern virginia university which is also near virginia military institute and washington and lee. So we're about three hours driving south west of washington dc. So is that out neuronal them. Yes yes that's our closest airport is about fifty miles away. Wow okay so having lived in big cities or served doing a little more not so rural but smaller city living. It's definitely rural. We completely disrupted ourselves. I mean why give you look outside of our window in the morning we can see deer and there are cows next door to us in fact when we very first moved here. Because we've lived in boston in manhattan in large cities when we first moved here. I remember waking up one morning. And i like hitting hitting but like you know pulling my honey honey. Turn off your phone. Because it was buzzing buzzing any turnover. And he's like those. Are the cows unbend an adjustment for us. I find one. I'm away from manhattan anywhere. I go but like my visit. My sister in wisconsin. And both my wife and i get woken up by the quiet. It's like it's too quiet and it's like wait. Why are we going every week. And you're accustomed to having the noise outside all the time that are. Do you know at some level that that it's too quiet attack keeps me up. I love that looking at by the quiet. So i was gonna ask you. Are you follow soccer fan. Because you wrote that you are going to produce a reality. Tv show about sauerland america and listeners. To show that. I'm a avid soccer fan. Oh i wish. I could say that i am. I got really excited. So this This is actually almost fifteen years ago. Now where i. I was a huge american idol. Fan in a huge. So you think you can dance fan. And and i was doing a lot of work in latin america was equity analyst. And so you know. I've been to mexico fifty times to spend a lot of my doing work a lot. American one of our companies that we followed on as equity analyst was televisa which time was basically abc cbs nbc and fox combined and again this is fifteen years ago and so we thought wait. We have an opportunity here to basically do you know. Soccer meets american idol and just got so excited about the stories of that could have produced on so while. I'm not a soccer fan per se. I am a cinderella story fan and i just thought that that could have been an amazing august show to have produced. I wanna watch for sure. So the regular listeners. Get accustomed going off on soccer stuff here. Tangents everything relates to soccer. Soccer explains the world. There was a book that wrote that. So about that so I think i read that book. Actually it was a good book. Yeah yeah so Pet the author on the show. So so we're talking about transformation personal transformation you. I've really enjoyed your book. Which you've just updated and re released disrupt yourself masterless change and speed up your learning curve. So what was the original impetus. Write the book you know. That's one of those questions that its you can answer many different ways on. But let me see. If i can streamline so that we're not here all day on you know as i just mentioned i was equity analyst. Were keep merrill lynch In a focusing on stocks in latin america like televisa so like america melville and this is back in two thousand three two thousand four. I read the book. The innovators dilemma by christian at harvard. Business school and i remember reading that book and it just was in many a transformative experience. If you will. Because i was looking at wireless at the time in every single quarter america. Mobile was beating my numbers like just every time and and telmex numbers weren't so that was the wireline company. In american mobile was the wireless i read. I read innovators dilemma. I said oh. That's what's going on. Is that wireless is disrupting wireline. And i was just fascinated. That there was a s- theory that could explain to me the world and help me understand what was happening And the more. I read that book it more i started. I think maybe just because of my own personal bent started thinking. Well how does this apply to me. Like i understand. It's explained products and services in companies in countries. But i also remember having this moment in just two thousand four. And i had just had this conversation with Someone in management saying you know what really liked to try something else. I'd like to do something else attorney. I'd like to go into management kind of laughed at me. Kind of snickered. Like ov- outs nice. That's never going to happen. And i remember coming back to that book and being you know what if i wanna do whatever it is. I think i'm meant to do which i had a very vague notion. I think many of us do I'm going to have to disrupt myself. I'm gonna have to leave wall street and go do something else.
"merrill lynch" Discussed on WBZ NewsRadio 1030
"Reach. Merrill Lynch, Pierce, Fenner and Smith incorporated registered broker dealer member S I P. C. Kevin Brennan WBC's traffic on the threes. Cloudy with some sun peeking through right now, but later on tonight after dinner, we're going to start to see this snow come down. And through the overnight hours, it will be coming down at a very good clip. We're talking at times pushing two inches an hour and the winds are going to really start to kick up. A swell through the overnight hours could see Gus to 40 50 even 60 miles. Now we're right along the coast. So forecasters say we will be dealing with blizzard conditions. Poor visibility, dangerous travel through the overnight hours getting into what used to be. Morning commute. Now it looks like as we make our way through Thursday afternoon, the storm is going to make its way out. Leaving us with about a foot or so of snow in most of Massachusetts could see some locally higher amounts, especially in higher elevations Out there the Western Hills, the Berkshires, parts of southern New Hampshire, 6 to 12 inches or so on the South shore in upper Cape 3 to 6 inches on the South Coast and lower Kate because they're part of the storm will see a bit of rain and sleet, mixing in live local and fiercely independent. This is WBC news radio. Right now, in Boston, where it 29 degrees and again that sun is peeking through the clouds, But those clouds are moving in across the entire state this afternoon. Good afternoon to you on Nicole Davis. Great to be with you today. Here, the five things you need to know what 12 46 Governor Baker urging everyone to stay off the roads tonight Let the road crews do their thing.
"merrill lynch" Discussed on WSB-AM
"Wsb 32 degrees. Now as we checked the morning drive again, and nobody will be cool Ray Carrier Sky copter. It's Mark McKay midtown and let it down to one lane. Jump down Marietta Boulevard heading toward the city, south of Bolton. Rosemary Fire rescue protecting your crash because again, just one lane open going south about Yourself that riot of Cobb County's fighting might be flashing lights off to the right with a crash 75 South out of Del crowed, not causing any hassles. 5 75 looks good out of Canton and I like what I see to start out 400 south between Al Perretta and bucket Arcaro know these 3 16 westbound tap on the brakes at Riverside Park Way. Sugarloaf Parkway. 85 south of Brief slows down at Indian Trail Road inside the perimeter. It's still a free into midtown sport. Brought to you by Merrill Edge. Self directed helps put investing within reach, get started in Merrill edge dot com. I'm slashed within reach Merrill Lynch, Pierce, Fenner and Smith incorporated. Registered broker dealer member s I P c triple team traffic 95.5 WSB Go, mister and death aboard coming up in about 10 minutes. I didn't know this before today what happens today? The locks in George's electoral college votes for president. Coming up next on Atlanta's morning news, suspected car thieves crash and burn in midtown Atlanta He was on fire from here, so I'm gonna leave SP's Veronica waters, but health officials saying you'll need to give up during the holidays to protect your loved ones. Company. West Media's time is 6 37 at United Concordia Dental. We bring a personal approach to our said VIP dental plans. That's why comprehensive dental coverage starts with you with me. Are you a federal employee? Yes, then yes, you fed will retire. Reed. What about me? Yes, you too. How about me? I'm about to retire from the military. Yep. Great. When can we roll Federal Open season is November 9 through midnight Eastern Standard Time. December 14th..
"merrill lynch" Discussed on WLS-AM 890
"Merrill Lynch, Pierce, Fenner and Smith incorporated Register broker dealer member s I P c with about a week and a half until electors, declared Joe Biden the next president, the Trump campaign continues. Filing lawsuits to try to overturn that result. Here's a B C's Andy field with the latest trump campaign suffering tomb or court losses, losing an election appeal in Michigan. While a judge dismissed another case in Nevada, the president's lawyers found yet another suit in Georgia trying to get that states lawmakers to take the win away from Joe Biden out of 47 lawsuits so far, the Trump team winning just one that did not change the outcome of any race. Meanwhile, another defeat for President Trump Today he's been trying to do away. With DACA, the Obama era program shielding undocumented immigrants who came here as Children. Now today, Ah federal judges restoring DACA ordering Trump to accept new applications. For that program that protect the so called dreamers from deportation Governor Pritzker announcing how the state will distribute the vaccine to fight covert 19. It will be distributed among the 50 counties, with the highest death rates per capita and the top counties on that list are down state. Pritzker talking Maura about how to coordinate the distribution of the vaccine. With larger cities like Chicago. The city of Chicago's distribution will operate in tandem with the rest of the state and were in communication with city officials as they worked to distribute the allocation that they get direct. Meanwhile, Vice President Mike Pence the head of the coronavirus task force at the White House, talking about the Vaccine today is President Mike Pence in Georgia at a round table discussion on Corona virus vaccines more confident than ever that the day will come and come soon when we put this Corona virus In the past with just weeks to the Senate runoff in the state Pence campaigning for the two incumbents who also attended the roundtable, Senator Kelly Leffler president have shown in America.
"merrill lynch" Discussed on NewsRadio KFBK
"Reach that in just the next few days and later this month for the second San Francisco Bay area. The order will then last for at least three weeks. And a fall in California Highway Patrol motorcycle officer was honored today in West Sacramento Commissioner Amanda Ray led the end of watch ceremony this morning at the CHP Academy officer Andy Our Nellis. Antelope Valley area. End of watch. December 2nd. 2020 Four year veteran officer was involved in a crash while headed to a call on November. 23rd, a pick up truck driver didn't see the 27 year old officers. They pulled to the side of the road while attempting to make a U turn. Flags at the state Capitol will be flown at half staff in or analysis honor. Traffic and weather together. Here's Dana Hess and brought to you by Merrill and right now westbound 80 just west of Douglass Boulevard. Just got a report. We have a vehicle into a pole there, and there are injuries see its speed and ambulance gonna be responding again. Westbound 80 just west of Douglass Boulevard. Keeping I have Forum State route 1 60 State Road, 12. We have a fuel tanker with its Flashers on partially blocking that intersection. Eastbound cap a little heavy as you get out of midtown. That's pretty much if when questions find you Merrill Edge cell. Directed investing as personalized tools and insights to help you find answers get started at Merrill edge dot com. Slice within Reach Merrill Lynch, Pierce, Fenner and Smith incorporated redshirt broker dealer member s I P. C traffic on the tens, every 10 Minutes mornings and afternoons news 93.1 kfbk. Mid sixties in the Valley today fifties in the foothills some patchy frost overnight, otherwise mostly clear overnight lows in the mid to upper thirties morning for us, then mostly sunny highs in the low to mid sixties. Tomorrow, right now, 66 John Prine Iz News. 93.1 KFBK stayed in less than 30 minutes. Breaking news. The second in Heaven's on Sacramento's new 93.1. Hey, FBK. He's may be uncertain times. But what is certain is that every family needs a reliable thermometer..
"merrill lynch" Discussed on WLS-AM 890
"Pritzker today tried to maintain fiscal restraint and will not borrow the full amount made available to states from the federal government. Let's growl over confirmed Illinois would borrow $2 billion of the $5 billion that is available and now certainly work to continue to address our long term structural challenges in the coming session of the Legislature. We must Addressing Illinois's long term fiscal challenges that existed when I became governor will continue to be among my very top priorities he doubled down on not wanting to saddle the state with more long term debt. Illinois health officials reported 11,378 new and probable cases of covert 19 and 155 more deaths. Preliminary seven days. Statewide test positivity from November 18 through November. 24th is 12.2% President. Trump Pardon former national security adviser Michael Flynn. Flynn was central in the years long Russia investigation. Trump announced the pardon today, calling it his great honor. Flynn is the second Trump associate convicted in the Russia probe to be granted clemency by the president. The president commuted the sentence of longtime confidante Roger Stone. Just days before he was set to report to prison. WLS news time is 5 33 When questions find you Merrill Edge, self directed investing his personalized tools and insights to help you find answers get started at Merrill edge dot com slash within. Reach. Merrill Lynch, Pierce, Fenner and Smith incorporated registered broker dealer member s I P. C. On the Kennedy outbound.
"merrill lynch" Discussed on NewsRadio WIOD
"Merrill Lynch, Pierce, Fenner and Smith incorporated registered more car dealer member s I P. C. No grant this radio 6 10 w y o d. Ah, beautiful afternoon. 81 Dania Beach is 79 in north Miami beach with mostly sunny skies. A small plane has crashed off the runway at North Terry Airport in Pembroke Pines. It appears at least one person may have been killed. Police and fire rescue teams now arriving on the scene, no further details at this time Florida's Department of Health confirming an increase of more than 6300 new covert cases. Today, plus 94. More deaths are blamed on the illness that puts the death toll in the state of Florida over 18,000 since the pandemic began. The Michigan Board of State Canvassers meeting today and considering the state's November 3rd election results. Fox is Garrett Tenney has more. There are nearly 800 people lined up in the virtual cue to speak during the public comment period of this meeting and the vice chair of the board of Republican Asset the board here from all of those individuals first before the vote. Happens. However, He also said that the board's duty today is very clear, saying quote we are here to certify the election. That could be an indication that he plans to vote in favor of certification. And that is significant because coming into this meeting, there were indications the other Republican on the board may vote against it. And if both had voted against certification, the board would have deadlocked and things would've gotten a whole lot trickier for the last week. Michigan's secretary of state has said repeatedly that the role of the state canvassers is there. Very clear, and they are obligated legally to certify the results. That's a Fox is Garrett Tenney reporting. Publix is being sued by relatives of a South Florida employee who contracted the Corona virus and died after working at the store on West Avenue in Miami Beach. Relatives of 70 year old Dorado Gutierrez says public's initially refused Let workers wear masks and gloves out of fear That's customers would be scared away. They say that reckless decision led to the man's infection and death. The Florida Consumer Action Network's annual report on dangerous toys is out tap a congresswoman Kathy Castor, taking part in the rollout, she says the pandemic has meant more kids playing with less supervision. It's really difficult to keep your eyes on what they're doing at all times, whether their virtual learning or they're playing with siblings, so we want to give parents and caregivers the tools they need to keep keep their kids say. Hazards in this year's trouble in Toyland report include toys that are choking hazards for small kids, high powered magnets and toys that could make noises loud enough to damage a child's hearing. Hop on a train in downtown Miami Hop off at Walt Disney World. That's the plan announced today by Bright Line and Walt Disney World. No timetable has been announced, however, for the project. President elect Joe Biden making history with his Cabinet picks. He's chosen Allehanda My Arkus, a Cuban to be the first Latino director of homeland security. Averil Haynes will also be the first woman to head the intelligence community on Wall Street and update all across the board The Dow up 350 points the NASDAQ Up 30 S and P 500 up 22. The forecast is next. I'm Rory O'Neill, NewsRadio 16 w. Y o D. With UnitedHealthcare Medicare advantage plans. There's so much to take advantage of like $0 co pays on preventive dental care..
"merrill lynch" Discussed on WTOP
"Within Reach Merrill Lynch, Pierce, Fenner and Smith incorporated registered broker dealer Member s I P. C. Married to pump the wtp traffic and here storm team for meteorologists Lauren rickets to tell us about what's going to be a warmer than usual November day. Yeah, definitely our average temperature for this some of your 59 degrees. Headed into the mid to upper sixties for daytime highs, in fact, have a forecast of 68 here in Washington. So it is going to be rather warm yesterday weren't 61. We do have more clouds and sunshine. We're seeing that now. A few pizzas sun here in there. Listen, few Sprinkles as well. We're seeing that Dan and Falk here County as well as Prince William County. And I'm gonna keep some spotty Sprinkles maybe a spotty shower prior to 4 P.m.. After four. That's when the bulk of the rain will move in, and it's just a line of rain. Maybe an isolated thunderstorm from about 4 to 9 P.m.. It'll be breezy today but gusty with those showers late this afternoon through this evening, but again mild up until that time. As we head into 9 10 o'clock, rapid clearing temperatures falling into the forties and thirties overnight and then tomorrow plenty of sunshine. Breezy Tomorrow love winds gusting up to about 20 miles an hour through the day tomorrow, nothing too terrible but plenty of sunshine tomorrow mid to upper fifties so cooler low fifties on Tuesday partly cloudy And again windy with winds up to about 25 miles an hour and then still windy on Wednesday, Wednesday, mid forties for daytime temperatures, plenty of sunshine, but it's going to feel like the thirties through much of the day on Wednesday, 52 right now in Washington, Leesburg and 46, Annapolis at 53. It's 47 degrees here at W. T o p Brought to you by mattress warehouse by with confidence with one year price guarantee. Only a mattress warehouse sleep happens dot com. It's 7 42. Politics power. And the people from Washington D. C. This is the week on the hill. Stop deliberately and recklessly sowing doubt about our democratic.
How To Help Professionally Successful Women Survive a Divorce With Allison Jeffereys
"Hello and welcome to another top advisor. Marketing podcast. Some of you have said to me on podcast, you know Matt. My Niche is focusing on women that's not an itch. It's fifty. One percent of the population is actually the majority of people on this planet. But today we're going to dive into how you could actually focus a lot more on women in an area that is very, very important and I believe is entirely underserved Alison. Jeffries is a divorce coach and author of a woman's guide to surviving divorce. A woman's guide to surviving divorce, she's also at the end when everybody hanging to the end because she's going to give away something that we'll have link in the show notes but and I was reading to prepare for this and if you know anybody who's been through a divorce if you've been through a divorce, it doesn't matter if you're a man or woman, you'll see yourself in these questions. She's really created this magnificent spreadsheet that will help you navigate conversations. But Allison. Let's let's start at the beginning. What do you do I mean how did you get here? Why are you? Why did you publish this book? Why did you want to become a divorce coach? Well I publish the book as a Personal Passion Project. We all go through life. Everybody has one book in them, but I think the important part of that story is, how did we get to the book? So I headed thirty five year career in the corporate world worked for Fortune One hundred companies Merrill Lynch prudential. Citigroup Wells Fargo worked in the financial sector worked in the securities area at Citigroup was. Managed a part of the country educating financial advisors on how to work with women in a group called Women Company. During that time it was in the middle of all the changes in the laws and regulations around financial advisers and tracking and documenting, and all of a sudden I had one month to take my seven and get it to continue to do my job. I did it. Couldn't believe it. But I, did it. They told me I had to take it I figured whether I failed or not. At least I'd taken it up pass. So I did have my seven had my sixty five. Loved the education of how women relate to money my degree is in psychology. So that was right up my alley really worked a lot on the difference in how women approached things how we make decisions, how we manage or don't manage our money those barriers between ourselves in money, the cultural issues, the professional issues, and all of those things that men had a hard time understanding about their women clients and why it was important to work with them. Left that career and honest to goodness. Being financial adviser with something I never wanted to do. So I. Let all that Go. I. Went Back into the corporate world in at a certain point in my life, I had a chance to stop. Rethink about what I wanted to be I. was on my second divorce. and. It was kind of one of those things where you common denominator here would be meat. So. I had to fix that become a big belieber marriage in I like men so. It was a it was self revelation process did a lot of writing. It became the book and it is a fictitious version of what a woman experiences when faced with divorce. Based on those common cultural and. thinking process. Things that are totally women. That we do. And so that's where I am. Okay. Why why should financial adviser scare? Why should insurance agents care? Why should financial adviser scare? Why is this such an important focus for people who have discussions surrounding money? Well. As you said, women are fifty one percent of the population. I don't know that math works for me the other reason it. Is More critical to financial adviser is back when I was it women company years ago we always cited that statistic that by twenty, fifteen, fifty percent of US wealth was gonNA transition into the hands of women. Well guess what it's happened. So whether women have come up with all this money through death divorce or old fashioned way we aren't it. We control a larger percentage of the investable assets in this country. But because of the cultural barriers because of the social morays that women have been raised with if we're anything over twenty five to thirty years old. We might not be managing them very effectively. And It just makes sense to me if you're a financial adviser to understand how to speak to women to get them engaged in Manning, they're managing their money.
"merrill lynch" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change
"Lizzie Evans father was a forty five year veteran at Merrill Lynch. She shares how Merrill was part of her entire childhood attending events going on company trips essentially growing up with the firm after college she worked in the A in private equity world before joining her father's practice at Merrill where she worked for seven and a half years with her father and now partner. Brooke May. Then the family feeling she always had for the firm started to disappear. The team was becoming more and more limited on what they could do to serve their clients and grow their business and with her father having taken CTP the firms retirement place program. She found herself at a crossroads stay with the firm consider transition deal from another brokerage firm or make the leap to independence. Some along with Brooklyn lizzy husband in Flanagan and team members from Merrill. They formed independent firm Evans may wealth just over a year ago. In this episode, Lizzy shares her story with guest host Louis. Diamond together they look back over her first year as a business owner and talk about what the real drivers behind their decision to leave Merrill why they chose to go independent with sanctuary wealth and what they think of independent business ownership. It's a candid conversation that many Gen and senior advisers can relate to. Look. I'm delighted to be joined today by Lizzie Evans the managing partner of Evans May Wealth Out of Indianapolis Lizzie. Thank you so much for joining us today. Louis. Thank you for having me as part of this podcast series Bergeford. Let's get started jump right in. Can you tell us a little bit about your background? Yeah. Absolutely. As you mentioned I am the founding and managing partner of. Wealth based in Indianapolis, we transitioned our business from Merrill Lynch in June of Twenty Nineteen and prior to transitioning Evans may wealth to an independent firm. I was a senior vice president Meryl for seven and a half years and right out of school I worked in Chicago in a KPMG it. Worked for a Private Equity Fund, and Austin Texas before moving back to Indianapolis, which has has always been my home. Excellent very diverse background and you'd share with me that your your father was a forty five year veteran at Merrill. And you'd worked with him there for a couple of years before he ultimately retired what were his feelings about you leaving Merrill you couldn't have been an easy thing from here. Now, I certainly wasn't I worked with my father for seven and a half years at Merrill by he's been a my father for thirty three years. So we think a lot of like both in terms of investment strategy in the business and really merrill was part of my entire childhood. I still remember all the Maryland trips and events that we attended as children, and so really the decision to leave was not one that broken I took lightly. I can tell you what I've told him about the reasons why we left Merrill and you know I think first and foremost, it really isn't Meryl Anymore I think whether you've worked there for five years or forty five years in my opinion bank of America really destroyed the entrepreneurial within the company and as. I look back on it I don't think of leaving Meryl I think Meryl Changed in transformed into. Bank of America while before we made the decision to leave. So that was really the most important reason, and secondly I really believe my role as an advisor and the success of our business is driven by being a true fiduciary to our clients. So when my compensation is tied to how many mortgages is sal or how many banking products I offer I just. Seems to me like something's broken. So ultimately, we laughed really because we felt like as we look to the future of the business, really our priorities for the clients and for the business with how Bank of America had changed in where was a headed word aligned. So we try to always have client first mentality and we really felt like you know our decision to leave was an outgrowth of the plant first mentality that the really was a transition at the bag. But still, forty five years is a very long period of time when your father learned of your desire to leave was he flabbergasted was he excited for you? was he sad what were his emotions like when he learned of this? Route in Merrill. Was a wonderful company. I think when he looks back on the last forty five years and when I look back for Merrill was the best of the Best I have fond memories as mentioned as a child going on recognition trips we had bowls in planet on. Our imprinted on blankets in our family living room. We had a license plate on the front of the car I. Think even there was a picture of me as a baby in a onesie with a marriage full on it. So I think as I said, it was certainly wasn't an easy decision to leave. I think Meryl. Did an excellent job. For a long period of time creating a culture of excellence in really applying first mentality and they had the the best in the brightest in a wonderful training program. So now I think when I think about his rear end when I think about the company that it was I certainly have fond memories but I think the business has transformed and I think no one you look out and you look at the trajectory of the future way didn't feel like we could deliver a a client I experience in really from an investment standpoint provide truly open investment architecture under the current. Platform. So you know I think that he's certainly respected that decision and you know I think that he unequivocally understands our rationale accents in something we hear often is that we didn't leave Merrill. We Left Bank of America and maybe that's what belts was. If Merrill stayed exactly as it was even probably back when you started seven and a half years ago it's probably a different feeling just given the sense of in Congress that was clearly felt it sounds like he was supportive because you're next generation and he trusted you to do the right thing and drive the business forward. Right that's very well said. So tell us a little bit about the business today. So today you're the managing partner of Evans may wealth tell us a little bit about your business how many people around the team you mentioned a partner named Brooke? What's your value proposition to clients? How much assets do you manage, etc...
One Of The Wildest Markets In History
"Markets in general are so different than they were exactly a week ago at this time the pace of change of what we're experiencing is almost is just completely bewildering unprecedented. It feels like so. I know what you mean but I am going to say. We're recording this. On March sixteenth. And a week ago we were limited down on S. and P. Five hundred rushers and we were limit down again this morning so Monday. Therefore we must have hit the circuit. Breakers I say that with sarcasm. This is not normal. We've hit limit down. I think like three times in the past week right and I think we've limit up at least once or twice the volatility that we're seeing is just relentless and the pace of change in life you know. Last weekend I was still out. I took my daughter to the park. Saw some friends at the park. I wasn't going inside to bars or anything like that or restaurants. This weekend I was alone I walked through some of the same neighborhoods that I walked through last weekend and to say that it would it would divide was different. Truly is truly an understatement. So many of the places that I saw people where they were still lining up just completely empty in what what would normally be busy parts of New York on a Nice pre-spring day. All I'M GONNA say is welcome to my world and I think you were warned. Having listened to me complain about this for six weeks but social distancing has been well into effect to here in Hong Kong. We've had hoarding. We've had fights over a toilet paper we've experienced at all So yeah it's kind of surreal to watch the rest of the world especially Europe and the US. Now go through what we saw in Hong Kong and China and some other parts of Asia. Just six weeks ago. Yeah Surreal to say the least it also of course creates very a rapid changes in our own. you know micro podcasting schedule because even the guests that we're talking about and that have Scheduled we're actually having to change the topics on the fly because the original plan. The original discussion suddenly doesn't feel as relevant as it did even say two weeks ago. Yeah it's been challenging scheduling thoughts episodes and I think the sheer speed with which markets have sold off is absolutely soundings are saw one Analysis from Bank of America Merrill Lynch where they were talking about how it's been the fastest bear market on record because we've had just twenty one days from the trough until we fell twenty percent that the next fastest one was back in one thousand nine hundred ninety nine. It's never that great to see twenty twenty right up against nineteen twenty nine comparative Markets Chart. But I will say one thing. That's remarkable about the current market selloff. And it really puts you in mind of of whether or not this is technically driven or at least being exacerbated by technical factors or how much of it is driven by actual fears of the economy and to me. It could go either way right if you assume that big parts of Europe and the US maybe Asia again as we got a second wave of infections are going to be shut down for the foreseeable future in clearly. That is a serious economic problem on the other hand. Some of the action that you've seen in markets these weird moves like limit up one day and then limit down the next. You sort of self reflexive do seem to indicate some sort of technical driver as well.
Morgan Stanley to Buy E-Trade, Linking Wall Street and Main Street
"Start with the big deal of the day and that Morgan Stanley buying e-trade. This is an all stock deal valued at thirteen billion dollars and this shouldn't be super surprising. I guess it when you think about the ripple effects of last year when Schwab said Yeah we're going to cut our trading commissions zero and cut to however many months later and e trades like. Yeah Yeah we'll we'll we'll let ourselves be acquired for that price yeah E. Trade has Grown into a large Large company with plenty of money in it and plenty of assets and accounts but having really built its model around take control of your finances by trading stocks and you know that that portion of the business being making money off of every single. One of those trades gone They needed Sort of the new business model to to marry up too and they found one. I was a little surprised to see right at the open this morning. Shares of Morgan Stanley. Were down like four five percent. And I just you know in in my limited analysis. I thought I I'm I'm not sure you know that's not a huge drop and it has come back up from there. Were right before the. We walked in the studio check. Maybe only down one and a half percent but it seems like a good deal for Morgan Stanley. They think they can get half a billion dollars out of quote unquote synergies over the next three years and the resulting firm is going to have three trillion dollars worth of assets. I mean their ability to use the deposits within each raid to help fund their lending operation. It seems like a good deal for Morgan Stanley. All right well up until recently The the standard movement of stocks on an acquisition would be the acquiring company went down in the acquired company went up so I think that's one thing to remember. Is that an acquirer. Having its stock go down is not all that unusual and I think. The implication from the market's initial reaction. Which as you pointed out might be more muted. As the day goes along is that this was an acquisition of assets. But maybe paid more than you had to It's it's not not a jaw-dropping price but I think Goldman Sachs has come out and and sort of promoted themselves by saying that. They built their own Funnel of similar assets or Marcus. And you know that baby Morgan Stanley is overpaying compared to you know what the market rate is for a pile of assets and the business and a platform as well the comes along with those assets but really the value seems to be that whereas e-trade people fund their accounts. They leave a certain amount of money in in cash and E. Trade pays them pretty little for that and invest that into largely mortgage-backed securities and now that spread which is pretty tight and going to remain tight in the low interest rate environment. They can bring that over to Morgan. Stanley who need assets Because they like to lend to Richer people that Will end up paying a little bit more. And our our barring the money With a little bit more risk than the more mortgage backed security market that E. Trade was getting all of its revenues from basically the the float the spread on that. You're absolutely right all of you next topic there was a I I was GonNa say you're absolutely right. That all things being equal the average deal of two public companies the acquiring company their stock drops. A little bit. I was surprised at the amount it had dropped. But you're right. No one should be surprised that it dropped a little bit. By the same token no one should be surprised the Goldman Sachs direct competitor of Morgan Stanley. Came out and said we think you overpaid for that and by the way. Here's our thing which we built ourselves. I mean no disrespect to Goldman Sachs but if they think that Marcus has a better has better visibility and name identification than e-trade. They're fooling themselves. Well there's There's about fifty billion In Marcus according to what I've read and so that's a little bit more than e-trade okay. E-trade has got the name. Recognition has got the brand but people associated with stock trading which is now free so the where the brand goes is going to be interesting Know once upon a time it was scaled around Commercials of babies trading stocks stroke. Why is there that remember? The trade baby That was a focus of the company for years and a good advertising campaign You just reminded me of the The CEO Morgan Stanley was being interviewed on CNBC this morning and it talked about. He was asked. When did you first start having these conversations with E. Trade and he said well to be perfectly honest back in two thousand and two when I was at Merrill Lynch and I was impressed and at that point I just stopped listening to what I said because I was reminded like Oh right Merrill Lynch. That was a brand that used to exist. You know to your point about E. Trade. We'll see where the brand still exists. Merrill Lynch random exists. I'M PRETTY SURE. Be Of a is methodically. Get eliminating the Merrill Lynch brand. I'm just saying it exists. You can you can go to. There are Merrill Lynch Coutts there. There are and billions of dollars there. Now that you one of the reasons for that maybe that you've got a generation that trusts the name Merrill Not that you're trying to draw new assets in surly Andrew that but you're not going to eliminate that brand as quickly as you might think because there are piles of money there that are maybe not paying close attention but alike the association that they have with with that brand. I don't think it's going away quickly. I just think it's going away and the evidence points to the fact that it's going
How Bond Defaults Are Changing China's Markets
"Years ago China didn't really have much of a corporate bond market and now it has a pretty big one both domestically typically and dollar denominated offshore bonds as well but most importantly China's corporate bond market has had a number of defaults in in recent years. And that's a really big change because historically you know it. It was kind of uncertain that the authorities in China would allow companies to default. So you can imagine joe that makes for an interesting bond. Market given that bonds are of course supposed to reflect investors perception of default risk. Yeah I remember like it was twenty fourteen or twenty fifteen the first ever Chinese bond default and I remember thinking like how is this possible support. Like how could you have the first ever bond default and I almost like thought I was misreading. The article is this idea that there had never been defaulted bond before but but obviously you know he's sort of take for granted the maturity of the US bond market US corporate bond market and then default. Even in. Good Times you know. They're they happened from time. I'm to time With low rated companies which are take for granted that not all markets are as mature and sort of market regulated the way the. US One is. Yeah totally I mean I remember. In two thousand fifteen analysts over at Bank of America Merrill Lynch they published a note that was basically a history story of Chinese corporate bond defaults in there were like two things on there It was a pretty short note as you might imagine but it raises all these interesting and questions about how do you actually develop a corporate bond market almost from scratch. And what sort of distortions or unique characteristics jurisdiction are introduced when you have a big question mark over whether or not default will be allowed and I should say one of the defining features of China's has Sort of business system as a whole is the division between private companies and state owned enterprises so. SOS's these These big state run conglomerates that are often thought to be government backed or even government-guaranteed right. Well I'm interested interested in learning more about this topic all right so we actually have the perfect guest to talk about. All of this Someone who's done a lot of academic work on exactly this topic as well as a lot of other stuff. It's June pan. She is a professor at the Shanghai. Advanced Institute of Finance at Shanghai Jiao Tong University the university so June. Thank you so much for coming on. Well thank you so much for the invitation. It's exciting to hear what Joe just Active about it topic Will be at the moment right so you actually just published a paper where you were looking at this exact. The topic specifically you're looking at whether or not spreads or risk premiums on China's Corpus actually reflect the health the financial health south of its companies. But before we dive into that I I wanted to sort of ask you a broader question about how China's financial markets it's are currently structured so corporate bonds are supposed to be market based versus these sort of traditional bank based system of lending in China. And what I mean. By market-based is investors are setting or influencing funding costs by demanding a certain level of compensation for a perceived risk. So how big a leap was it or is it for China to move from that bank based system of lending to something that incorporates more market based types of lending I would say it's It's a big leap for people like myself hawks. In a in a financial research area in the financial markets this is a very encouraging development to me that China's credit market overall the credit market to be improving. Actually the speed of the markets development was pretty impressive Over the past ten years it grew into a roughly astray turn. US dollar markets. But that's been a pretty impressive development just through the credit market law so sorry break it it down. What is the split between how much private credit is funded via something? We'd recognize the bond market versus traditional bank lending think about the ratio enough national firms in China so we have a ratio for market based that so including an upper bombs and also as a type of yawns basically market traded versus bank loans. In two thousand eight. It was about about four point six percent. Okay so only a tiny fraction As a racial to the bank loans. You know China's financial system is to you Banks dominated System not not like in the US so that number grew phone point. Six in two thousand eight to A little bit under twenty percent to the more precise nineteen percent in two thousand eighteen and much of that increment is driven by header. The the credit market right so Through your most recent papers. So you're you're taking a deep dive live into Chinese corporate bonds and you're trying to ascertain whether or not the actual spreads the risk premiums reflect something fundamental about the financial health of Chinese companies as they sort of are meant to do in more developed markets so if a company he is perceived to be at a higher risk of default. It'll have a higher spread because investors want to be compensated for that risk. Why did you decide to look into into this particular topic in the? US market is. This question has been well researched so you look at companies of different. Let's a okay Different fundamental risk in terms of default in academic. We have standard models named after Professor Bob but we called the mud let the model so in a martyr martyr. We take the balance sheet information including its leverage and also we take the firms if the firm mm-hmm is traded was publicly listed equity. We take the Equity Marketing Commission. Now one of the king for mission will be the the equity volatility so the Muslim Alderwood take those fundamental plus equity marketing. Commission has input and give you an assessment of what's the probability off default for the ball issued by this company and You can get a sense that there will be a connection between modern predicted default and the market observed credit spreads right so in the US if you take Approach of that you would see that about forty percent off. The kind of spread can be explained by fundamental. Well we take this as a starting point and we want to see whether in China we see a smaller direction in terms of fundamental mantle. I also have the firm and the credit bucket pricing off the issue and and this is our starting point before we get to how well the model works with the Chinese With the Chinese bond market. I'm curious in the US. Maybe just talk a little a little bit about the. US probably close to the sort of ideal free market or free. Bond Market is the Merton model robust enough such that one can use it to identify mis pricings or identify arbitrage opportunities between the price of Oh bond and and the price of an equity because you said forty percents. I'm sort of curious whether it's something that's mostly useful from just a pure theoretical perspective or whether it can sort of formed formed the basis for at least initially attempting to identify overvalued or undervalued bonds. Well this is a good question. I mean our financial tomatoes are always approximation. Ouster much much richer morality but this model actor has been used by practitioners. There there is You probably have heard of at it's called. Km so cam. The was a was a company that tech exactly the Merton model eh feed. The father was off a real data and the outcome is the probe the cameras just to measure which is similar to a probability of default measure. I think for those listening who've terminals at home we have a very good Function on the terminal where you can and to see a company's thought I had to plug the terminal here but you can actually. It has the Martin model and you could change some of the assumptions. And so it's very fun. You can a sort of measure in the gaps between the price of the CDs distance to default. You can play around with that very fun anyway. I didn't mean to interrupt apologize for that I was just model. It's not perfect. Even a black shows option pricing for a lot of you know demonstrations but it's a good starting point a good reference point was to stock was and it's encouraging that there is a link between the fundamental of the firm. And how it's a bonus surprised and as you move on from the US market to the to the Chinese mock. You would be surprised. Maybe not surprised to see that this onto actually should not be taken for granted as we've seen in a data
Big News for Brokerages
"Charles Schwab the largest publicly traded discount broker is reportedly in talks to buy the second largest publicly traded discount broker. Td Ameritrade this is part of an ongoing disruption in the brokerage industry. Here's here's a refresher. When trading stocks retail investors basically individuals investing for themselves and not for an organization pay a commission or fee to the broker or Ebro Grinch who completes the trade on their behalf? Of course it's not as great a deal for the investors as companies that collect those fees and have consequently faced pressure to reduce them and reduce them. They have J. P. Morgan Chase unveiled a free trading APP in August and within two months all the other major brokerages had followed suit or at least announced plans to follow suit. Td Ameritrade and Charles Schwab among them. But here's the RUB. The commission's contribute to the revenue of the brokerages who collect them and eliminating that revenue stream has worried shareholders golders. At any rate. The industry is changing. Here's Becky with today's story. Charles Schwab Corporation and talks by. Td Ameritrade and a deal could be announced as early today that move if it happens would consolidate an industry. That's been going through massive disruption calls to Schwab and td Ameritrade have not been returned but obviously the entire complex flex seems to be moving on this joining us to talk more about this as Mike Santoli and Mike. What do you think obviously blockbuster Bosox being up tells you that the market believes CBS? This area is crowded too much capacity and there's great synergies in a deal for cutting costs. I think that the going zero commissions was a sign that the the competition for retail assets had gotten to that. Also it's not just in commissions right. I mean the whole industry is going to very low fee exchange traded funds these these these kind of software based advisory services where it's a very low fee to all that stuff has been constant pressure. And I do think that you had Ameritrade take the biggest hit it really. In total market cap from Zero Commission move much more leverage to the trading business. It's been an industry. That's gotten rolled up a lot over the past decades but this this would be a real step up in that activity because you had had a bit of a low. And it's interesting you mentioned e-trade being down on each raiders vacillated about potentially being a seller being in place. It's been considered a potential target and Schwab Ameritrade obviously would be to the obvious buyers potentially coming from one of the and in fact Ameritrade typically viewed as a acquirer In fact maybe that's why some of the valuation was a little bit depressed because they just did by Scott Trade and it's unclear if they were going to continue to be a buyer. Also one interesting thing about this. This is both companies still have kind of the founder families with ownership. This is the first generation of this industry. It's never been passed down really so it's it's sort of a fascinating Joe talked about that earlier. Just about how this industry came out of nowhere. And he's going to the market together. Yeah when this company exists it's going to be ninety billion dollar company for how long how long how long are we going to beat about. I know I know but I I just think that there's a lot of it's GonNa come out of this value of three children and assets of restaurants that you can glean some kind of whatever and that's that's the day better than some I mean they would do some serious rationalization yes and there's parts of this business. I think they're culturally very different. And do you think they've gone head to head in an aggressive way to be either back end operations service of registered investment advisers which is basically the fastest growing part until the questions I'd ask are do you think that. What kind of savings do you think can really ring out of combined company like this and then in terms of is is back in technology? I think it's a marketing dollars. The Marketing Donald is going to be a big money cost of account. Acquisition is one the leading costs and technologies probably the leading costs so put them together. Combining headquarters remember. I mean. Td Ameritrade right you had td. Bought Waterhouse Ameritrade thinker Swim. There were all it was really a fragment so people know the playbook in terms of putting these companies together rationalizing trying to retain all the customers and getting the kind of picking the best operations that you have among the two companies so I do think I don't know the magnitude I haven't seen the estimates but the market is telling telling you the efficient and you think this is a response to Fintech effectively. It's a response to yeah to the to the Robin Hood. Venture capital. Subsidized is businesses. That are now pressuring these other guys to consolidate I think that's the most recent catalyst but even the development of those Robin Hoods and the Fintech businesses says just reflect the fact that retail finance has become software I mean even if you look at at Merrill Lynch what they've been doing with their human an advisory is skewing NAM upscale. And make sure you know for all of David Salomons efforts at Goldman Sachs to try to get some sticky money in there which is what then Marcus businesses all about. Why doesn't it traditional play? I'm not I'm not suggesting that go by. TD AMERITRADE and jump into this situation. But you'd think that all of these players would therefore be up for grabs for some of the classic sort of old school not beyond the realm at all right There's a huge chunk of all of the integrated brokers like Mike Marrow. Where eight is basically merrill edge it would right they call it where they kind of shunt you into a automated on a call center type right and so you know it's not incompatible with something like you know I think for Goldman Nicotine? It looked. We had the infrastructure. We have all the all the exchange memberships we had the back end. We can do ourselves into
David Rubenstein talks to Ray Dalio
"David Rudenstine sat down with Bridgewater associates co chairman and co chief investment officer ray Dalio to discuss his early life and how we got hooked on the markets so you grew up in Long Island and where you're from a wealthy family no like that was a jazz musician very lower middle class when you were a young boy were you interested in the financial world or what were you most interested in growing up when I went I got hooked on the markets when I was twelve because I used to caddy and I would take my money and I put in the in the markets and everybody was chatting about the markets so on how did you do well the first stock I bought I book because it was the only company ever heard of that was selling for less than five dollars a share and I figured I could buy more shares of went up and make more money that was my strategy her work and it worked and I have a work because this company was about to go broke and somebody came along and acquired it and it by local it went up and I said this game is easy then decided that I would be involved in the markets in this game is anything but easy so in high school were you interested in academics or were you a good student no I had at our school I did cut classes a fair amount of classes to go surfing did you have a hard time getting into a good school calling all yeah I got into CW post college on probation probation on probation okay and what he did well there I loved college okay I love college because well besides mixing the all the fun that college gives you it also when I like this and I could pick the subjects that I was interested in and I am so I look I love college right you must have done research well because you got into Harvard Business School yeah I did I got the upgrade grades when you graduated what do you do so in my two years it's a two year school in in my summer I like to trade commodities I got in trading commodities now this is down summer of seventy two and so nobody ever for more business school wanted to commodity division but I went to Merrill Lynch's commodity division I said Hey can you give me a job the director of commodities in that summer gave me a job job to help them around nineteen seventy three we have the oil shock bear market in stocks commodities is the hottest thing was hired as director of commodities at Dominic and Dominic having never done anything and the director of commodities but as part of and that's so that's what I say let out eventually though to set up your own firm yeah the so I that was seventy three seventy four big bear market in stocks are the Dominic and Dominic essentially went broke I went to what was sandy Weill's firm CBO Leo Hayden stone at the time became Shearson Hayden stone remain above the law because of our did all those mergers I became in charge of institutional commodities in other words hedging of all different things hi and that put me with all different futures markets and then we got into the environment where seventy four seventy five you got into this environment where the interest rates targus a monetary policy all of those things were driving all the markets so that got me hooked on those markets but anyway I got fired from there because I was a bit rowdy did you find someone that can share some thoughts in the face for the appointment book that's not a good way to prepare for that was but that was it was new year's eve we got drunk on new year's eve and you punish somebody other than your boss didn't think of that anyway he but it didn't last long okay okay so you have to always started the farm because I was and because the clients who want to do business what year was at the start of the firm nineteen seventy five so it grew truth from one or two employees to how many well in nineteen eighty two it was I I think there were eight employees a in here at one point and then I had a terrible eighty two so and then it came down to one employee so nineteen eighty three or so it was just me you have to borrow money from your father yep so let me tell you about the moment so nineteen eighty nineteen seventy nine eighty eighty one I calculated that American banks had lent a lot more money to emerging countries of those countries will get paid back and I anticipate that there would be a debt crisis and with that an economic crisis so that was my thinking and August nineteen eighty to Mexico defaulted on its debt and a number of countries fallout and so because I said that I got a lot of attention about that and I thought that was going to be producing a bear market in stocks and I could not have been wrong more wrong August nineteen eighty two was exact bottom the stock market and I was wrong and as a result of that let's take my employees are lied to let them go I lost money for myself on was money for and I had to borrow four thousand dollars from my dad it was the most painful one of the most painful experiences but it was one of the best experiences that ever happened to me in my life that was Bridgewater associates co chairman and co chief investment officer ray
"merrill lynch" Discussed on News Radio 690 KTSM
"Joe Scarborough or priest so and so from Merrill Lynch pundits politicians central bankers prince New York times editorial board riders are there there there there on TV all the time we're not smart enough they don't report news they're they're putting it for us and telling us it's true meaning right and again yes what we told by these people what what we what we told our that with the good deeds that we have to do right well if the good deeds is this obviously helping them out often times are you gotta get out there and vote for ridiculous candidates again I'm a member of the hello friends I'm a member of the donkeys and I'm going to be a good donkey in a good elephant if I just book party line and not think all we're doing the right thing saving putting my money where listening to my my shock broker they're he'll tell me the right thing to do all your sure I'll be a I'm gonna I'm gonna borrow lots of money into my kids borrow lots of money it's a great thing for them to go off and getting a overpriced college education I can't afford it's fun and their soul many times out there there's no answers to these things the questions that often times the asking of these with there's no it should be something that I understood then writes about a year the answer is the process he comes up to me go go back to coaching I got a twelve thirteen year old coach coach what what do I get I'm not getting a lot of playing time coach I love this one of my favorite questions in the entire world now when I'm hearing it from parents when I got a kid coming up to me and is upset these not playing enough this is obvious and one of our league teams I tell you what you do I think exactly what the what the answer trust our process work your **** off at practice and you know what if you do that we do everything we're telling you to do trust the process stop **** around yes what you're gonna play this process and what we try to get across you need to try to make sense of everything that's going on around you we realize nice being able to see things for what they are how often here on the program while I grab a story from The New York Times Washington post Wall Street journal and we'll pick it apart we'll pick it apart it if it's a it's like this is like going to one of my practices we're sports except this is for having an open mind being able to see through the bull excrement out there and we'll pick apart the article I just see how ridiculous it is and see what they're trying to accomplish it is not the purpose behind much of what you read is to inform you it's the drive you it's to instruct you tell you what to do how you should think you want to have these clear I so guess what you can go through life acting in a world with your own heart if that makes any sense what you out the principles where guess what you're you're helping others reciprocity you're going out of your way to do for others.
Bank Of America Merrill Lynch, Apple And Merrill Lynch discussed on Mac OS Ken
"Didn't I start by saying there were a couple a couple of positive notes around apple last week indeed I did seeking Alpha had other glad tidings for apple late last week that side had bank of America Merrill Lynch issuing a note saying that apple saw increased APP store revenue and the recently ended June quarter according to the piece the firm sites third party data showing APP store revenue was up eighteen percent in the third quarter compared to the seventeen percent growth in the second quarter increased revenue is especially interesting given what be a Merrill Lynch Calls Material Deceleration in APP store sales for China. The firm has
Wall Street Gets Some Slack
"And guys slack making its Wall Street debut on Thursday. Now, this is not your traditional IPO direct listing. We'll talk about that a minute. The ticker symbol is W, O, R K nine work now slack for those unfamiliar is a cloud based, instant messaging type platform for the workplace we use it here, the motley fool we use it to prep for the show, so we are big users, but Andy, I want to know about the stock. What about slack as an invest? Well, it's really interesting. I it's a, it's a I think it will be a very I think it'll be very well, received IPO now as a direct listing doesn't have the support of these underwriters. It has it has Merrill, Lynch, and Morgan Stanley, and has Goldman Sachs helping to make the company go public, but it's not like they are issuing new shares. So slack is not benefiting at all their bid, they're not they're not getting any money from this and not raising capital from this. They are simply a private company one day and the public company in the next with some help with some of those, those banks and up the buyers and sellers. But the company itself is it is really come on. You just think about how we're using this to the motley fool, they have more than six hundred thousand total customers only about one hundred thousand of those are actually paying so they have about five hundred thousand who used their free solution that can get you started into slack. It's a collaborative tool. It's a workplace tool. Stewart Butterfield who founded the company who founded also flicker great name. Yes. A great name. And then he and the CTO at slack, who was also chief, who was also tech leader at flicker before it sold out to Yahoo. They had Dave co-founded slack. They're both very involved and they own a lot of stocks to Butterfield owns probably north of billion dollars worth depending on where the shares trade today, but he owns more than forty two million shares. So. It has just when you think about this push towards collaborative tools, collaborative work environments, the so-called SAS Baso software driven cloud base architecture. That's helping companies that just work better and more efficiently including the motley fool, but they have loads and loads customers. Two thirds of the fortune one hundred are slack customers MAC? So this is not just some small company, the valuation was probably around sixteen billion, and we'll see where the shares trade after today. I do think it will be a successful IPO. I think the demand for the stock will be there. Interestingly, the company is still a small company from a revenue perspective. Really maybe one hundred thirty five million dollars for the last quarter in revenue still not profitable. So we have a company trading around thirty four times trailing. But doubling the new sales are doubling the growth is there and that's what you need to see when you see a company trading at that kind of valuation. So I think it will do. Well, interestingly. You'll only probably get about half of the shares available for trading the six top institutional shareholders control about sixty percent of the stock if they're not sellers that you're not gonna see a lot of float out there. So it's going to be interesting to see how the supply and demand shakeout and that will, of course, affect the stock price and how it trades. And that's what the direct listing so fascinating MAC. Because it needs this needs the buyers and sellers as Ron often says, hey, takes to make a trade will you need the buyers and sellers. And it doesn't have the underwriters to help really facilitate that, so sorry. They will help manage it, but they're not since a company's not issuing new shares the really at the whims of the buyers and sellers. In Andy, you mentioned, the COO earlier, Stewart Butterfield. He said, in a CNBC interview that companies will phase out Email over the next five to seven years. Now. He said that the broader world of Email will stick around we'll still be around, but the companies will phase out Email over the next five to seven years. Is that what has to happen for slow? Lack to succeed. No, it doesn't have to happen. I think E mail will still have some place in there. And let's just be clear. Slackers focus really on the corporate, and the work environment. So they're not really talking about like individual usage. So, like, you know, the killer app from the text messaging Tex-Mex, gene with iphones, and Google all that kind of stuff. Right. So this is really focused on the work environment. So Email may still be around the volume of Email here at the Molly full since we've used slack, I think, has fallen by more than half, maybe even two thirds or so. So our volume of Email flow has dropped dramatically as we continue to use slack. I don't think it Email needs to vanish. And in fact, slack has a lot of the they tie into thousands of different apps, and to API she'd be able to coordinate and, and partner with different applications, including Email. So it doesn't need to happen. But I think he's probably right. The work Email flow will dramatically change over the next five years. So for someone who doesn't know much about slack who may not have it in their workplace. Win win. Are you using slack versus Email? What, what has slack replaced in terms of Email? Well in our preparation for this radio show. I was using slack, for example, and you kind of went quiet issues entering time using it, most of the time. But then he switched to Email sent me an Email. I was. A true or false you may have been late for our taping. It is. That is true. I was really only because there was no official start time. So you can't be laid if there's no starts. Let's not nitpick. Let's not w slack is at its best in my opinion when it's used for short kind of correspondence projects. No. But that's the word not for projects. I think Email is better for project has agreed. With continuing ongoing threats to live event. You have tach moments. You, you have things you want to, you know, keep for long, periods of time, maybe file into folders. I think slack is better for short bursts, like all the software applications. It's not perfect. But I think it is intermarriage improvement. I mean and by the way, there were lots of other companies try and do this Yamen, which I think was bought by maybe Microsoft, and there, there have others who have done this over the years slack had built a solution me it's only been around since two thousand fourteen I think, so they build a solution. That is integrated it is cloud. I it is really focused on helping. Improve the collaboration. So there are times, I think, Iran's, right? There are times when it's bed, and there are times when it's not, although I see it with the lot of the integrations in other software applications getting better. But I agree with Ron. We've talked a lot about this is that it's really good for like, quick, hit, little communications knowledge sharing that kind of thing if you start getting any more robust conversations at least from my experience, that's where more conversations really need to happen slacken help drive that. And by the way, there's now slack video and you can slack. Call up told really is becoming they talk about communications and collaboration money talk about slack. And that's really what they're trying to
Bank Of America, Fed And Merrill discussed on AM Tampa Bay
"Investors haven't been this bearish since the two thousand eight financial crisis, according to a Bank of America, Merrill, Lynch, survey of money, managers, the survey found cash holdings jumped by the most since the twenty eleven debt ceiling crisis, the money managers say they're worried about the trade war a possible recession. And the fact that the fed may not be able to do anything
An Interview with the Whistleblower Whisperer
"It after the financial crisis, Jordan. Thomas worked as a lawyer at the SEC the securities and Exchange Commission. That's one of the federal agencies that regulate Wall Street, and while he was there. He helped create this new whistleblower program under the program people who see banks or other companies breaking the rules can anonymously report it to the SEC. If the SEC follows the tip and winds up collecting money from the Bank, the whistle blower is eligible for an award. It's like a bounty, after the program was up and running Jordan, went into private practice helping whistleblowers bring their cases to the SEC in exchange. If his clients get paid about his firm gets a chunk of the money he's become one of the preeminent lawyers in the field. His clients have provided tips that have helped the SEC collect hundreds of millions of dollars from some of the biggest banks in the world. He told me he thinks there are a few reasons for his success. One is we're very selective. We can't contact, but on call all kinds of people. Wack jobs, Washington spiracy theories, and foxhole converts looking for get out of jail free card. Our job is to kind of figure out who the good guys are the real whistle blowers, the ones who know where the bodies and buried in the ones that can lead us to them and pretty good at that. I think the, the second thing is that were kind of and realists we understand, how things really work and are willing to use non traditional tactics gray the gray arts. If you will a good example is the SEC is not permitted to covertly record conversations. Well, I as whistle blower advocate, working with my clients can covertly record conversations in many states in the United States, including New York. Correct. And I sometimes joke that some of my clients must have been trained by massad because they have enough. Recordings of people that are that are game changers. So in the past, the SEC would have to build cases from the ground up circumstantially. Now, my clients are bringing them, you know, countless recordings of senior people talking about own doing. It doesn't get much better than that. What can you tell me about specific clients of yours? Not much our clients tend to be a senior people with a lot to lose. And actually, the number one question that was lowers come to was aboard council with is will, I lose my job. Will I be blacklisted in my career and under the SEC whistle blower program you can report anonymously? And so, you know, in many of our anonymous whistleblower cases, we will make arrangements for the to speak to the client by phone, but we will use boys changed technology to change the gender timber of the whistleblowers voice. So, so the SEC itself can't even identify the voice of the whistle blower, right? You said you can't talk about the clients. I know that you mentioned a few cases are there instances where you can talk about the case. Now, let me give you the example of J P Morgan. J P Morgan was, was telling its clients that they would objectively pick the best funds for their clients. When in fact they had a bye. Us toward picking proprietary products, in which they made more money. And sometimes those products had worst performance because they, they were able to make greater fees. And our client, along with another whistle blower, not represented by us, where able to provide evidence of that to the SEC, and the SEC was able to confirm that this is something that affected over a hundred thousand JP Morgan, clients and was stopped because of our, our client. And, and what happened to JP Morgan like what, what did they have to do as a result? They had to pay over three hundred million and Jordan's client in that case got an award of thirteen million dollars a second whistle blower, in that case represented by a different. Attorney got over thirty million dollars. Those awards were announced just a couple of months ago. That was the third biggest case in the history of the SEC's whistleblower program. The biggest award was last year in that case Merrill, Lynch got in. Trouble for misusing customer funds and three whistle blowers all represented by Jordan. Thomas were awarded a total of eighty three million dollars. Even now does Merrill, Lynch in know who the whistle blowers were who your clients were. Now they don't. Wow. The same JP Morgan if if we do if we do our job. Well, our clients can and do continue working at the organizations in which they reported even though they could buy an island, some of them like working. So they keep working. I mean not to be glib, but there is the, the like, hey Bob how you show up in a Lamborghini today. Yeah. Now, some some people don't don't show their money and. Yeah, I call them secret millionaires. You know, people who wanna was award, but choose to keep working at the same firm. Yeah, it does happen. People's relationship with their workers. In some ways, like family, after a period of time and breaking an office hard. After the break families secrets, and how Jordan Thomas became Jordan. Thomas. What was your name before? You were Jordan. Thomas, Paul Thompson. Does anybody still call you Paul? No.
China threatens retaliation as US prepares to hike tariffs
"China exports declined pretty significantly last year. They're feeling some pain and the US doesn't want to to. We don't want to have some kind of like. Stalemate where where both sides are heard. So I think from a game theory perspective some resolution and friendlier resolution than what's priced into the market is to be expected. And in that scenario, we think that the economy could actually improve in the second half, and we could actually see a rate hike. But I agree. I think a rate cut is not what we should want. Does that Woody investors? I don't know if that's the the you've be agree with you on we shouldn't want that. But the market wants forget everything else. You know, we've been wrong or that the market wants by the Mark Trump is playing this where he says if I don't get the trade deal done. I get the rate cut. That's my backstop though, the markets throw a tantrum then to fed ten percent. It's an interesting. It's an interesting way to get what you want. I mean, maybe never say never, you know, I think though that what the real driver of the economy is less about tweets, and it's more about corporations and generating earnings, and I think the one encouraging signal that I would point everyone to is that this quarter. Remember, we were all calling for an earnings recession. This quarter earnings are actually growing at two percent year over year. So things are still okay. I don't think we're at those those sort of those levels at which we really wanna panic. But, but you know, if if that's what it takes if we do need to see a ten percent correction in order for policymakers to start panicking. You know, maybe that's how the year plays out. But that means growth took place in an environment where everybody believed there would be a deal. And now we are in a place airplane or a no deal situation. Protracted negotiation is on the table. So. Yeah. Could we could see that completely embraced? Yeah. Now. Now, it's a good question. I mean, I think from an earnings perspective part of the reason that earnings were low we're low hurdle. This quarter. Is that some analysts had actually started pencilling in tariffs into twenty nine thousand nine hundred things that haven't even been decided yet? So, you know, there there was upside risks first-quarter, look, I think you're right. I think that this is sort of a do or die situation and China Europe US these are the three players that are going to be most affected three global leaders the earnings front. I think we're we're expecting positive growth. We're actually expecting a bit of an acceleration next year from two percent or three percent to seven percent next year. But in the events of a long drawn out ugly battle or full on trade war where neither side agrees. And it's know tariffs everywhere. In those situations. We would definitely revise down our earnings expectations. And you're right part of why things have been okay is that we haven't been panicking yet. Savita? Thank you. Good to see you saying you to Bank of America, Merrill, Lynch guy or love everything. She said the most interesting of the many things was the fact, I agree. I think fed rate cut would be a hate using the word, but we use them della. Terry say that was like my fingers does you know? It's like oh to the market. So I agree. I think if the fed word rates, maybe the knee-jerk is over then people say, you know, what maybe we're on more stable ground. And we thought I think that actually would be both for the market getting into some game theory for Friday. I just think that the Chinese have been very interesting in the last twenty four hours and not talking about having a gun to their head having their vice premier head to the us having some sense that maybe they're willing to make some concessions because I think any deal that they do barring something that we clearly have not heard about is a great deal for China. They are not going to let up on one belt one road made in China twenty twenty-five if you listen to US tech companies they're telling you they're running into Chinese interference.
"merrill lynch" Discussed on KIRO Radio 97.3 FM
"Between two financial advisers nine hundred at one six hundred at the other. I'm looking to go all in with one because I'm losing confidence with the other one. I'm leaving has my account invested at higher risk than I am comfortable with now that I have retired my issue. How to accomplish this transaction without having to explain the investment strategy of the other adviser I've been with Merrill, Lynch been with a Merrill. Lynch adviser for about ten years or so and with the Schwab adviser for about four years, and I feel that my Merrill Lynch account is invested way too heavily in stocks eighty twenty for my age. I'm sixty two. Anyway, I've had the Merrill Lynch account, analyzed by Schwab. Guys. They feel the same way. Would it be good for me to have an impartial analysis done by yet a third party? How do I go about that without having the person try to persuade me to invest with them? Okay. So if you wanna third party, but you could do is you could hire somebody by the hour to actually look at both of these accounts, and you can say be upfront. I wanna pay you by the hour to do an analysis of these two accounts. Now, my cost of a couple thousand bucks, you know, and they'll give you an honest appraisal. Just make sure that person is a fiduciary meaning they've got to put your best interests first. And if you can pay them by the hour, then they get compensated for their time. And you could say I am staying with one of these two people. However, I just have the sense that you already know the answer. And I'm not sure that you need a third party. So the real the real the reality is that unless you've taught have you talked to your Merrill Lynch adviser about downgrading the risk. If if so and they haven't responded that that's bad. If you just want to leave Merrill, Lynch your have to go nuts. You can literally say to the Schwab guys, and I presume that the Schwab people are I'm not sure if they are fiduciaries or not. But my guess is that the Schwab folks might be independent because they're clearing through Schwab. And you can say I will say to them. Okay. What is the cost will the cost differential sway? You. Now have a million and a half with the trauma. Can't you want to get a cheaper fee you want to try to negotiate a lower fee for yourself. But I don't think that there's again, presuming that you really liked the shroud people, and you like the way they're managing your money. And it's consistent. You don't own any explanations one hundred years ago when I was a financial adviser. I would always want to hear from somebody to tell me why they're leaving. But you don't have to do that. And in fact, what you can do is you can initiate the transfer at Schwab. And the whole thing will happen. Very seamlessly. And you can then once the transfer is submitted tell your Merrill, Lynch, folks. It's been great on console. Dating. Thank you very much. Goodbye. Your don't even do it on the phone. You can write a nice letter which would be perfectly reasonable. But I would also really I would press the Schwab guys to figure out. How much that fee is going to drop by I think that would be great. I really I think that we really good. So that's my two cents. And I think that you would be better off for doing that. Okay. I know it's hard. It's like breaking up with somebody. It is. I get it. That said I really wanna remind everyone you're entitled this is your money, and you've also got a communicate. So if you feel like you have not communicated with a broker or you haven't been heard, those are two different issues. Right. Because if you haven't communicated and they're doing what they do then shame on you. But if you have communicated, and they have not responded to that. Then that's shame on them. If there's something in between or you just really want to move you can move. Don't worry. It's going to be fine. I would really want to encourage people that have an open dialogues good, financial planners really want to hear from you and want to have open, honest dialogue. And if you can do that, you're going to have a richer and probably more successful relationship. But if you expect people it's just like with your spouse, if you expect your spouse to read your mind, even the Mark totally expects that of me, and I'm not even his spouse. I'm just as work spouse. But he does kind of read my mind. You know, if you expect that it's gonna probably not end up. So great. So I think that in your case, it would be it would be who've you to try to communicate if you haven't. But if you just wanna move move don't worry about it, you are entitled. Okay, you're absolutely entitled. And I don't even think you think she needs a third opinion. I don't think so I think just go. But again before you, go find out from Schwab can you reduce my fees because I'll have more money with you. I'd be interested here what they're charging you. I bet you're going to pay less than what you're paying at Merrill. Lynch also with all due respect to your to my friends over Merrill, Lynch Bank of America, Merrill, Lynch Bamble as they.
"merrill lynch" Discussed on WHAS 840 AM
"I'm losing confidence with the other the one I'm leaving has my account invested at higher risk than I am comfortable with now that I've retired my issue. How to accomplish this transaction without having to explain the investment strategy. The other advisor I've been with Merrill, Lynch been with a Merrill. Lynch adviser for about ten years or so and with the Schwab adviser for about four years, and I feel that my Merrill Lynch account is invested way too heavily in stocks eighty twenty for my age. I'm sixty two. Anyway, I've had the Merrill Lynch account, analyzed by Schwab. Guys. They feel the same way. Would it be good for me to have an impartial analysis done by yet? A third party. Had I go about that. Without having the person try to persuade me to invest with them. Okay. So if you want a third party, but you could do is you could hire somebody by the hour to actually look at both of these accounts, and you can say be upfront. I wanna pay you by the hour to do an analysis of these two accounts might cost of couple thousand bucks, you know, and they'll give you an honest appraisal. Just make sure that person is a fiduciary meaning they've got to put your best interest first. And if you can pay them by the hour, then they get compensated for their time. And you could say I'm staying with one of these two people. However, I just have the sense that you already know the answer. And I'm not sure that you need a third party. So the real the real the reality is that unless you've taught have you talked to your Merrill Lynch adviser about downgrading the risk. If if so and they haven't responded that that's bad. If you just want to leave Merrill, Lynch. You don't have to go nuts. You could literally say to the Schwab guys, and I presume that the Schwab. People are I'm not sure if they are fiduciaries or not. But my guess is that the Schwab folks might be independent because they're clearing through Schwab. And you can say I will say to them. Okay. What is the cost will the cost differential sway you now that you have a million and a half with the shrub account? You want to get a cheaper fee you want to try to negotiate a lower fee for yourself. But I don't think that there's a again, presuming that you really like the shroud people, and you like the way they're managing your money. And it's consistent. You don't own any explanations one hundred years ago when I was a financial adviser. I would always want to hear from somebody to tell me like why they're leaving. But you don't have to do that. And in fact, what you can do is you can initiate the transfer at Schwab. And the whole thing will happen. Very seamlessly. And you can then once the transfer is submitted tell your Merrill, Lynch, folks, it's been great on consolidating. Thank you, very much goodbye Europe to even do it on the phone. You can write a nice. Letter which would be perfectly reasonable. But I also really I would press the Schwab guys to figure out how much that fee is going to drop by I think that would be great. I really I think that we really be good. So that's my two cents. And I think that you would be better off for doing that. Okay. I know it's hard. It's like breaking up with somebody. It is I get it. That said I really wanna remind everyone you're entitled this is your money, and you've also got communicate. So if you feel like you have not communicated with a broker or you haven't been heard, those are two different issues. Right. Because if you haven't communicated and they're doing what they do then shame on you. But if you have communicated, and they have not responded to that. Then that's shame on them. If there's something in between or you just really want to move you can move. Don't worry. It's going to be fine. I would really want to encourage people that have an open dialogues good, financial planners really wanna hear from you and want to have open, honest dialogue. And if you can do that, you're going to have a richer and probably more successful relationship. But if you expect people it's just like with your spouse, if you expect your spouse to read your mind, even though Mark totally expects that of me, and I'm not even his spouse. I'm just as work spouse. But he does kind of read my mind, you know, if you expect that it's going to probably not end up. So great. So I think that in your case, it would be it would be who've you to try to communicate if you haven't. But if you just wanna move move don't worry about it, you are entitled. Okay, you're absolutely entitled. And I don't even think you think she needs third opinion. I don't think so I think just go. But again before you, go find it from Schwab. Can you? You reduce my fees 'cause I'll have more money with you. I'd be interested here what they're charging you. I bet you're gonna pay less than what you're paying at Merrill. Lynch also with all due respect to your to my friends over Merrill, Lynch Bank of America, Merrill, Lynch Bamble as they call themselves..
"merrill lynch" Discussed on 760 KFMB Radio
"Know, he's has nothing to hide. What's the problem? Isn't the problem? Like, you just told us that your own client faced and explain that. Oh, yes. Well, first of all neither Mr. Muller, nor and that starts here. It says some context now we're talking about Merrill, Lynch. For executives at Merrill, Lynch were indicted. Andrew Weissmann, led both of these all three these attacks on Enron on Anderson. And merrill. Lynch wasn't enough to get Enron which had done many bad things. He puts Anderson had a business me. Nine zero goes after these four Merrill Lynch. Even more than that they plant their people. In Merrill, Lynch. Which they got agreement to do because you know, company has a gun to it said. And even the bills they were paying their lawyers to defend themselves. The prosecutor wanted to review go ahead. Ruth whatsoever. They're only interested in whatever they can generate to create a criminal offence against whoever they want to target, and they will do that by any means they can manufacture any means. Like a wired answer questions. Why do they ring a bell? Because for example, my client still stands, convicted, Merrill, Lynch, Merrill, Lynch executive of perjury and obstruction of Justice to separate offenses for expressing his personal understanding of a telephone call. He did not even participate in after Mr. Weisman instructive him in front of the grand jury to share that personal understanding what the grand jury whether it was accurate or not. Well, if it's not even doesn't even have to be accurate how in the world can be perjury, and how can your personal understanding of something? Be perjury. It makes no sense whatsoever. But he has to felony convictions based on that. And I thank all, right. We'll continue this when we return. We'll be right back. Mm-hmm. There's so many price reductions and frustrated home sellers because their.
"merrill lynch" Discussed on WJR 760
"To appear again. The case against Andersen. Went all the way to the supreme court. And they reversed. Nine two zero. Nine zero. Next clip. Go ahead. Prosecutor's office special counsel says look we just want to interview the president. We wanna know his view on Mr. Komi. We wanna know really why he what was his opinion on Mr. Komi. What was his opinion of the rush investigate? What was Mr Flynn? The media is out there. You know, if he's has nothing to hide what's the problem? Isn't the problem? What you just told us that your own client faced and explain that. Oh, yes. Well, first of all neither Mr. Muller stops here. It says some context now we're talking about Merrill, Lynch. For executives at Merrill, Lynch were indicted. Andrew Weissmann, led both of these all three of these attacks on Enron on Anderson. Merrill? Lynch wasn't enough to get Enron which had done many bad things. He puts Anderson out of business. Ultimately nine zero goes after these four Merrill Lynch. Even more than that they plant their people. In Merrill, Lynch. Which they got agreement to do because you know, company has a gun to it said. And even the bills they were paying their lawyers to defend themselves. The prosecutor wanted to review go ahead Ruth whatsoever. They're only interested in whatever they can generate to create a criminal offence against whoever they want to target, and they will do that by any means they can manufacture any means. Like a wire these questions, why do they ring a bell? Because for example, my client still stands, convicted, Merrill, Lynch, Merrill, Lynch executive of perjury and obstruction of Justice to separate offenses for expressing his personal understanding of a telephone call. He did not even participate in after Mr. Weisman instructed him in front of the grand jury to share that personal understanding what the grand jury whether it was accurate or not. Well, if it's not even doesn't even have to be accurate how in the world can be perjury, and how can your personal understanding of something? Be perjury. It makes no sense whatsoever. But he has to felony convictions based on that. And we. I thank all, right. We'll continue this when we return. We'll be right back. Mark levin. When's the last time.
"merrill lynch" Discussed on SuperTalk WTN 99.7
"It was the mutual fund companies companies. I didn't pay a dime for those meals. No, I had company. Fly me to Hawaii. Wow. The hotel. User. I never won anything. Baby. Tell you. We could make a whole lot more money. If we started putting fifty percent of our money in annuities. Yeah. I don't think so five times five times happened. It ain't gonna happen. The reforms. Have also limited the ability advisors to get paid for this. I thought was interesting the the reforms they had have you ever had an investment advisor say I'm changing firms, and I want you to move over. With me have anybody you out there ever had that happen. Well, here's another thing that they eliminated over in Australia says eliminated the ability for advisors to get paid for switching dealer groups under the auspices that it's not in the client's best interest rate visors to get paid to move to a new platform advises only need to switch into a new platform if it benefits the clients not themselves. Amen. Love it. Glad they're doing. This kind of thing on over in Australia that used to work because I have insurance with that. Of course. Of course, you do what don't you have experienced? We got pickup breakneck quick, basically, what would happen is the company. Let's say if I if I moved from Merrill Lynch to Smith born. Yeah, they were looking at my last twelve years worth of our Nash and give me anywhere from seventy five percent to one hundred percent of what I would've earned for that period of time. He has a bonus. Nice. But then they give it to you as a forgivable bonus. So what they do is that let's say I was a five hundred thousand dollars producer. Okay. I'm going to get five hundred thousand dollars in earnings. They're gonna give me a five hundred thousand dollar bonus check to sign. Yeah. But so they don't get killed on taxes digging to forgive twenty. They're going to give it to me in the form of alone. And then for five or six, and they started getting smarter. They started creating longer it used to be three years when I started the business then became, but I finally left that side of the business seven years. They would give a twenty percent forgive on the loan, and then it became became taxable at that point in time. So you get taxed the little at a time rather than all at one brilliant. Gee, all right Paul link. Li-listening investor coaching show, we're gonna take a quick break and be right back at you guys. Probably this is like listening to the house sausages made isn't it? Let's take a quick break and.
The Science Of Being Transgender
"Know? One. What makes us the gender that we are. While science doesn't know for Shaw, we do know that a lot of this is now Janes and the best evidence. We have tells us that this is not a choice, you are the gender. And sometimes it doesn't match you genitals to if a kid says they're transgender. What should you do? Well, let you explore who they are. If they want the hair or let it grow out, that's fine. And if they're about to puberty, so the adult about puberty blockers and three if you decide to change you body with homeowners and surgery will you regret it the best evidence? We have says that very few people regret getting surgery or taking homes. There is one big risk though. And that's t Phillipi particularly for canes who go straight from puberty blockers to home owns. Still though while they might be some risks with changing body with home owns scalpels 's something much scarier is looming over transgender, folks. And that's suicide a survey of molten thirty thousand transpeople found that forty percent had attempted suicide in their lifetime. That's way, high than the general population. It's nine times higher. He's cocoa. Maya the transgender population has the highest rate of suicide attempts of in the demographic in the United States. And what we're learning. Now is that being transgender in itself doesn't seem to be bad for your mental health? Tens out what is bad via mental health is the way trans people are often treated, they get bullied kicked out of their home and attacked and the science is telling us that this mistreatment. That's the biggest problem for transgender. People. It's not homeowners or surgery. Not surprisingly when people don't get treated like garbage and makes a big difference. I think the best thing about transition was having my family and friends support me all the way through it. And having my priest from the small town, Texas, write me a letter about how brave I was and say, I was always welcome in church. Yes. Hormones are important and awesome. But in terms of like why I'm doing so? Well, and so happy is because of all the sources of support that I got. That science Fasces. Hello. I Delhi Ruben high wind high Maryland, Hello. How many citations episode is over one hundred and thirty citations a hundred and fifty and Delhi. If people wanna read way, could they citations they can find them on our website. They can find a full linked to the script yet. I really recommend. If you do have any questions you want to know more about any of the topics. We've mentioned to the script check out the citations. Thanks, guys. This episode was produced by Adelie, Aruban and Merrill, Hawn along with me. Wendy's come in and rose rimless. I'll senior producer is Caitlin story. Edited by Blythe, Terrell editorial assistant by Rebecca cling. And by the way, if you wanna Hugh more about these topic you've got to listen through bekker's podcast. It's called the Trans-Pacific Partnership podcast Trans-Pacific Partnership podcast. It's great will link shooting in the show nights. You've really gonna listen fact checking is done by Michelle, Harris, Merrill, hone and rose rim. Mix and sound design by 'em among music written by 'em among and Bobby Lord. Thanks to all of the research is we got in touch with for this episode, including Dr Jack Tobin professor and faster stilling assistant professors cement the Busa associate professor, Susan Straka. Dr Katrina cock as this professor Neil episode in Poland, Nara, professor, Michelle foresees, and professor Joan garden, and thank you to all the transports who shed this store. With us. We really really appreciate it. Plus, thanks to come and family and Joseph Lebel Wilson next week is the final episode of the season following a cold case. A man has been found dead with a stolen identity. The police don't know what to do can science save the day. I'm wendy's. In fact, you next week. Hey, Wendy hia. And you're about to how special post show extraordinary on the Mike series web producing in partnership with Cole Haan Cole Haan is the brand that champions extrordinary people who passionate about the Korea's. So recently, I met up with few of my extraordinary colleagues to talk about how passions let us to where we on now hosting podcasts in the studio. We have Eric Eddings co host the not what's up and host of startup. Lisa chow. Hello. I was especially curious about leases career pot. So I asked her a question that ended up being kind of revealing. Lisa. What would you tell you'll youngest south when you starting out your career? What are you tell my younger self? You know, it's funny because when I saw when I became a journalist I feel like I went in with my eyes wide open because I graduated and I was an applied. Math major and I had really investigated all different types of jobs to go into. I actually did forty informational interviews. Yeah. With different alumni from my college from accounting to investment banking consulting, the UN working at the State Department being a teacher just a whole range of careers. And then the journalists like connected most to. Yeah. I really liked the journalist I talked to. And then one guy was just, you know, hey, you know, I can call an editor that I worked with twenty years ago to see if you would be willing to offer you a job and he did that. And then I went up to New Hampshire. The job was at a small newspaper New Hampshire, and I never written an article basically for my college newspaper or anything like that. And I went up in interviewed with him. And he gave me the job. Yeah. What was the fest article you wrote full them? Oh, jeez. It was probably about some board meeting because I was covering six towns in New Hampshire and Maine, and the I think I probably went to a meeting and covered a traffic light. So you a debate on whether we should put a traffic light at this intersection. And it was a community that had very few traffic lights. So it was incredibly contentious. I mean, what are you thinking at that point? Yeah. No. It was crazy. I loved it. I don't know. It's just like the small gears in public discourse. It was fascinating to me. It was it was very strange. I mean, I was probably was the only Asian within a thirty mile radius. But yeah, I loved it. I loved it. It was crazy. I was just felt like I was in a foreign land. But I was just in Hampshire. So what would you tell your youngest self than I think, I would just say enjoys a ride. It's exciting. Fun. And you're gonna learn a ton. That's the thing as journalists. It's like you learn so much. It's like you have the luxury to ask any question. You want of anyone? That's crazy. It's amazing. Eric has happened to you. Somewhat at you like, wow, I get us this question. Yes. We had lavar Burton on the show, and he told us he was proud of us, and like that was probably one of best career moments of my life. And I don't know lavar Burton that will you know. I mean, I like to think we know each other now. Clearly. But to be in a situation where I get to talk to someone who I have lived up to into have that person. Not only appreciate that interaction. But also say that they're proud of your work was mind blowing. It's kind of extrordinary way, you'll passions can lead you to you more about compensation produced in partnership with called Han. Go to extraordinary on the Mike dot com. And don't forget to check out Lisa and Eric's extraordinary shows Stott up and the naught you can also finally send me on season one of this poster. That's right mole once again at extraordinary on the Mike dot com. Thanks again to our sponsor give well give well is dedicated to evaluating the most outstanding charities. So you can see where your donation will do the most good you could find give wells shortlist of top charities and rate. It's full reports at give well dot org. Thanks to our sponsor Merrill, Lynch from Lata making robots to the price of money. The Merrill Lynch perspectives podcast exports, the often, unexpected issues trends, and ideas that are shaping our world their experts, go beyond the headlines and the numbers to help. You better understand how these changes could impact you and your financial life subscribed today to the Merrill Lynch perspectives podcast.
Telecom Italia, Elliott And Luigi Gooby Tozi discussed on
"Europe. In corporate news this morning telecom Italia's decision to name Luigi Gooby Tozi. As CEO marks another victory for Elliott management. And it's pushed for a radical overhaul. The ball chose the former Merrill. Lynch Bank gets to succeed, ammos Ganesh who was ousted last week for resisting. Elliott's call for the landline network to be spun off the decision. Entrenches? Elliott's influence and undermines top Telecom Italia shareholder,
Gubitosi seen as favorite to become Telecom Italia CEO
"Sources say Telecom Italia is set to name former Merrill, Lynch spanker, give your toes Tozi as its new chief executive officer. That's after almost was ousted this week by allies of an activist shareholder people familiar with the matter. Samy ten directors for backed by Elliott management kore- on give Tozi conference call. They held
Jamie Dimon says Trump should take some credit for the strong economy
"Which began with the collapse of Leman brothers, ten years ago this weekend. Now a decade later could a Wall Street executive diamond be the next businessman to make a run for the White House. Are Rebecca Jarvis caught up with him this week in New York. Why not throw your hat in the ring, Jamie. I said as before Trump was elected now you're not gonna get a wealth and yorker elected president. Boy, he's dead well. By the way this well, wealthy New Yorker actually earned his money. Wasn't a. It wasn't a gift from daddy p. Morgan CEO, Jamie diamond taking aim at the president saying he could beat Donald