Merrill Lynch, Pierce, Fenner & Smith Incorporated

Broker-DealerFINRA Member

Total AUM

$1.8T

Discretionary

$441B

25% of AUM

Accounts

3,253,265

Employees

32,960

Advisory reps

27,325

Brokerage reps

26,599

Firm details

Headquarters: New York, New York
CRD number: 7691
Registered since: December 8, 1978
Website: www.ml.com
Custodians: MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
Fee structure: Percentage of AUM, Fixed Fees, Commissions
Client types: HNWI68.9%
Individuals17.6%
Corporations / Businesses7.36%
Pension & Profit Sharing Plans3.31%
Charitable Organizations2.42%
Services: Portfolio Management for IndividualsPortfolio Management for Institutional ClientsPension ConsultingSelection of Other AdvisersEducational Seminars / Workshops

Firm profile

FINTRX

Overview

Merrill Lynch, Pierce, Fenner & Smith Incorporated is a wirehouse operating as a corporation that combines broker-dealer, insurance-broker, custodial and investment‑banking functions. The firm is SEC‑registered (since 1978) and serves both individual and family clients and institutional investors. Its business model mixes commission-based brokerage with advisory relationships and fee arrangements that include percentage-of-AUM and fixed fees. Advisory services listed include portfolio management for individuals/small businesses and for businesses/institutions, pension consulting and selection of other advisers, along with educational seminars and workshops. The firm is identified as an active ESG investor and is affiliated with a broad set of industry roles (including registered security‑based swap dealer, futures commission merchant, bank/thrift, trust company and insurance company activities).