Merrill Lynch, Pierce, Fenner & Smith Incorporated (New York)

Merrill Lynch, Pierce, Fenner & Smith Incorporated provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and performance measurement reports, allocation modeling, ips, research reports and services, see schedule d. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Merrill Lynch, Pierce, Fenner & Smith Incorporated: assets under management

The assets under management (AUM) of Merrill Lynch, Pierce, Fenner & Smith Incorporated is $797.28 billion. The firm's AUM has grown by 913% since the beginning of its operation, and $10.88 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $248.62 billion in discretionary accounts and $548.67 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $311.55 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $327.71 thousand.

Merrill Lynch, Pierce, Fenner & Smith Incorporated has custody of $791.27 billion in cash and securities for 1,304,370 clients in total and acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 32% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 26% of the firm’s portfolio. Investments in investment and business development companies form 23% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Merrill Lynch, Pierce, Fenner & Smith Incorporated for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Andrew Mason Sieg serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Andrew Mason Sieg is individuals with 1,203,984 clients and $397.64 billion of assets under management. Among the 11 most similar advisory firms, Merrill Lynch, Pierce, Fenner & Smith Incorporated has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $797.28 billion for 1,317,540 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Merrill Lynch, Pierce, Fenner & Smith Incorporated doesn't advise any private funds.

Careers at Merrill Lynch, Pierce, Fenner & Smith Incorporated

The company employs 41,217 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 25,576 employees are registered as investment adviser representatives with the state securities authorities.

There are 10 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Andrew Mason Sieg has been acting as President since 1 Jan 2016. Syed Faruqe Alam joined the executive team most recently as the Chief Financial Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 4 indirect owners.

Based in New York

The principal office where Merrill Lynch, Pierce, Fenner & Smith Incorporated performs its advisory services is located at One Bryant Park, New York, NY 10036 The mailing address of the firm is 222 Broadway, New York, NY 10038. An additional office of the firm is in Northbrook, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-637-7455 or by fax 980-233-7021. The normal business hours are 9 a.m. to 5 p.m. on Monday - Friday. You can find more information about the New York firm at ml.com.

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