No one would debate the fact that Merrill Lynch went thru some tough times during the economic crisis. But Merrill’s Wealth Management took a survey of their clients over this past year and found that they continue to value their relationship with their financial advisors.

As a result, the unit’s new brand platform revolves around its advisors, according to Joan Khoury, head of marketing for Merrill Lynch Wealth Management. The brand platform, dubbed the “Power of the Right Advisor,” builds upon Merrill’s source of strength, says Khoury. Debuting last week, it will be rolled out over the course of the year.

Some innovative things to watch for: Financial Planning Webcasts, major league baseball sponsorships, online financial media and search engines, including its own YouTube channel. Oh, and look for “Power of the Right Advisor” to appear just above CNBC’s stock ticker.

For more on the “new look” for Merrill, see Steve Garmhausen’s April 14th feature article for OnWallStreet, “With Loyal Clients in Tow, Merrill Unveils New Strategy.”

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Whatever the final SEC regulations are, it’s pretty well agreed that brokers will be operating under a more stringent fiduciary standard of care.

Given that, there will follow a dramatic transition for brokers and firms who will have to jump on the band wagon and add new technology if they want to continue to prosper.

The key word to the changes appears to be “advice.” Financial Research Corp.’s Chairman Bob Hedges said in a recent report “Rather than advice being incidental to trade execution, trade execution will be incidental to advice.”

This shift and anticipated new requirements calling for advisors, brokers and their firms to record and store all communication with their clients means firms will have to implement the tools needed to gather and store client data. Looks like their IT spending will skyrocket, along with some modification of their organizational processes and product development.

I’m certain will see some resistance and hear some “grumblings” within the industry.

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The Dow Jones Industrial Average continues to rise slowly, as it has for the past two months. Although we have seen several instances of apparent recovery followed by another dip, we may be seeing the beginning of the end.

As the White House reports unemployment rates improving (or at least not climbing as rapidly) and the financial district sees some influx, it may be time for wary personal investors to get back into the market. Many cashed out their stocks and bonds when the going got tough, and for good reason.

Stay tuned to see if the next few months become the time to buy and hold for the long haul of recovery.

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Maybe you recall back in 2007, when A.G. Edwards was bought out by Wachovia, and then in 2008, Wachovia was acquired by Wells Fargo…

Well, last year Benjamin F. Edwards (great, great grandson of A.G. Edwards) turned around and opened his own new firm. Two weeks ago, he opened his newest and seventh office in suburban Chicago. (I might add, taking seven financial advisors from Wells Fargo)

In an article by Lee Conrad of OnWallStreet, and published on March 16, he is quoted in a press release of the future focus for his firm:

“We are interested in building branches in middle market and metro areas around experienced and accomplished financial consultants who are a good fit and share our desire to do what’s right for our clients.”

The “good fit” is essential. Only one in 50 applicants have been hired, he told OnWallStreet.

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No surprise really, and as most are agreeing, a safe choice.

With Moynihan at the helm of Bank of America, I don’t think we’ll see any radical changes in the near future. I think he will try to steer his ship as calmly as possible thru the murky months ahead.

He has openly stated his immediate focus will be on the economic recovery and winning back investor trust. Keeping his team intact will be a priority too, tho there will probably be some musical chairs being played out.

He wanted the job, and now he’s got it, so will he be a rainmaker? Remains to be seen!

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Well, it’s bonus time, so naturally they want out from under the Federal pay restrictions.

But the “street” is buzzing about it. Will CITI be allowed to exit, and if so, under what conditions or restrictions? Will they (or could they) raise the $45 billion in capital for repayment?

But bigger still, is the question on whether or not they should be ALLOWED to. There is still a certain degree of “fear” or at least skepticism on Main Street that releasing the banks from their restrictions may allow them to return to doling out excessive compensation in whatever way they wish to, and I don’t think the general public is ready for that yet.

But, really, it all boils down to the fierce competition for the big producers that we recruiters are witnessing on a daily basis, and the high price those producers are demanding to either “stay” or “move”.

And you know what? Their demands are being met – business as usual…

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Yes, you have probably guessed right. Of those advisors who did move in the past 12 months, Discovery Database reported that 40% were from wirehouses, and in spite of all the speculation about them looking to go independent, 52% of those advisors turned around and went to another wirehouse!

We recruiters are still seeing UBS advisors continuing to walk out the door, (a few of whom have gone over to Raymond James since October), but perhaps UBS’s new CEO, Robert McCann, (prior Merrill, just released from his non-compete agreement) can halt the runaways through his aggressive growth agenda, which does NOT include putting the UBS wealth management division on the block.

Who knows, maybe he’ll go after more Merrill advisors?!

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An editorial by LA TIMES reporter Mark Barabak, on June 3, 2008, caught my attention. The topic was how Barack Obama was able to achieve victory over Clinton after a 16 month battle for the Democratic nomination.

Barabak elaborated on how, in his opinion, it was “a triumph of charisma and soaring oratory fused with a thoroughly modern campaign that harnessed the Internet like never before.”

I couldn’t help but think about how this declaration by Mr. Barabak could relate to our own “triumphs.” Aren’t these the same three components utilized by any successful entity, whether it be a corporation or an individual? I came to the conclusion that they are.

What do you think?

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