Merrill and Morgan Stanley in wealth management battle

Morgan Stanley HQ

'It's a war'.

The New York Post reports that as Merrill Lynch and Morgan Stanley trade blows to dominate the lucrative multitrillion-dollar wealth-management industry, Merrill has cleared a new hurdle this month and was propelled into first place by several analysts.

“I think Merrill Lynch is a gem,” CLSA industry analyst Mike Mayo told The Post. “When I look at Merrill Lynch, I look at its nice and improving profits, which is a credit to the firm. And Merrill has a higher pretax margin — which we all monitor— than Morgan.”

It’s a war between Merrill and Morgan, says Alois Pirker of Aite Group. “Merrill clearly has a leg up right now,” he said.

In other battle statistics, Mayo has concluded that Merrill’s “thundering herd” of 14,000 financial advisers has the best-performing team in town.

To access the complete New York Post article hit the link below:

Merrill and Morgan battle in ‘wealth manage’ war

SEC opens investigation into trading ‘dark pools’

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts