Merrill Lynch said to deliver tough message to employees

Red Warning Light

A zero-tolerance message.

Merrill Lynch is shaking up the ranks of its 14,000 brokers with what appears to be a zero-tolerance message about breaking key company rules. The new, tougher approach is seen largely as a response to increased scrutiny from regulators and heightened oversight by the brokerage itself.

MarketWatch reports that the message was delivered in dramatic fashion: In September and again last month, the Bank of America-owned brokerage fired longtime financial advisers handling very large and lucrative accounts.

According to the firm, they had violated its policies for dealing with clients and handling transactions. In both cases, Merrill surprised the advisers — and many of their colleagues — by opting for immediate termination over a less severe sanction that would have allowed them to remain on the job.

To access the complete MarketWatch article hit the link below:

Merrill doesn’t hesitate to ax big producers, sending message

6 reasons to sell stocks now and go to cash

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News