Two years after it moved to end commissions in retirement accounts, Merrill Lynch says it will reverse course on Oct. 1. At the same time, it plans to provide more straightforward information to brokerage clients about fees and commissions, including a summary of programs and services and the associated costs.
The reason? Angry investors, and most likely unhappy advisors.
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Janet Levaux
Editor-in-Chief Janet Levaux has covered the financial markets since 1991, with a focus on financial advisors since 2005. After graduating from Yale and the Johns Hopkins School of Advanced International Studies (SAIS), where she studied global economics, Janet worked as a freelance financial and business writer in Japan, and then as a reporter and editor for Investor's Business Daily and the Bay Area News Group in California. She earned an MBA in 2007 and since then has helped lead key ThinkAdvisor projects like its Neal-Award winning reporting on Ken Fisher, Luminaries awards program and Women in Wealth newsletter.
