Archive for April, 2012

MyMerrill for Android

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   Rating: 3.8 (34)    Cost: Free    Downloads: 1,000 – 5,000


For Merrill Lynch Wealth Management clients, our free, secure Android App allows you to monitor your portfolio; get real-time quotes, key statistics and the latest market news, as well as intraday, historical and custom pricing charts; and stay in touch with your Financial Advisor.

You also can transfer money between your Merrill Lynch investment accounts and linked Bank of America bank accounts, as well as between accounts at other financial institutions you’ve set up on the website.

Images are for illustration purposes only.

Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner Smith Incorporated, a registered broker-dealer and member SIPC, and other subsidiaries of Bank of America Corporation.

The Merrill Lynch app for Android is available to clients who have online access to Merrill Lynch websites.

Banking products are provided by Bank of America, N.A. and affiliated banks, members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Investment products:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value

MLPFS is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation.

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Market Link

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Tuesday, April 24th, 2012 EN No Comments

NEXT Financial Group Inc. Reacts to Trend of Top Financial Advisors Going …


HOUSTON, TX, Apr 23, 2012 (MARKETWIRE via COMTEX) —
For investors used to enlisting the services of financial planners,
the names of big wirehouses are well known. For a long time, these
major financial advisory firms have been seen as the ideal options
for those seeking portfolio management or long-term wealth strategy.
More recently, however, smaller, independent advisory firms have
begun to take center stage, in large part due to changes within the
financial industry itself. Reuters reports that a leading wirehouse
veteran has left the company to develop his own firm, and he is
hardly the only one to do so. According to the professionals at NEXT
Financial Group Inc. (NEXT), this trend is good both for these
advisors as well as for consumers.

The Reuters story focuses on Myles Pritchard, a wirehouse veteran of
more than 14 years. Though his role at the company has been
significant, Pritchard has decided to open his own firm. According to
the report, Pritchard is doing something that many other financial
planners have been doing in increased numbers.

In the article published by Reuters, Pritchard says the appeal of
going independent comes from a desire to build one’s own practice and
make one’s own decisions, but also that many advisors would prefer to
maintain some of the benefits and resources that come from working
with other broker-dealers.

This is precisely the reason why many independent advisors choose to
work with companies like Houston’s NEXT. Indeed, the professionals at
NEXT are nothing but enthused about this new trend of top advisors
going independent.

Company President Barry Knight notes that it is ultimately what’s
best for everyone. “In today’s market, being in full control of your
business and having the ability to advise your customers as you feel
appropriate is something I feel more advisors should consider,”
confirms Knight. “I know the change is drastic for many and
understand the implications of shifting your career in such a
fashion. However, broker-dealers, like NEXT, offer advisors the
freedom and resources they need to succeed on their own.”

Knight continues by noting that, for the advisor who craves
independence but also wants top-level resources, partnering with a
company like NEXT just makes sense. “When you have the ability to
make a smooth transition to fully owning and controlling your
business, why wouldn’t you want to at least consider it?”

Though the financial advisors who work under the NEXT umbrella all
maintain their own independent businesses, they are united by shared
standards of excellence, as well as shared access to technology and
other important resources.

NEXT Financial Group Inc., Member FINRA/SIPC, is located at 2500
Wilcrest Dr. Houston, TX 77042. For more information please call
877-876-6398.

ABOUT:

NEXT Financial Group Inc. is a broker-dealer based in Houston, Texas,
serving the needs of business owners and entrepreneurs throughout the
country. The company prides itself in helping business owners enjoy
success and financial independence through the role of smart,
visionary financial planning and wealth management. The company was
founded in 1999, and is currently led by President Barry Knight. More
information about the company can be found online at

www.nextfinancial.com .

SOURCE: NEXT Financial Group Inc.

Copyright 2012 Marketwire, Inc., All rights reserved.

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Monday, April 23rd, 2012 EN No Comments

FSA loses case against ex-UBS wealth boss over poor compliance

FSA loses case against ex-UBS wealth boss over poor compliance

The Financial Services Authority (FSA) has failed in a bid to fine former chief executive of UBS Wealth Management John Pottage £100,000 for misconduct relating to compliance problems, according to reports.

The Financial Times reported the loss was a blow for the FSA as it was the first time the regulator had attempted to penalise senior managers for inadequate supervision rather than actual wrongdoing.

The FT said that a London tribunal had cleared Pottage, rejecting the FSA’s case against him by ruling that he had taken steps to bolster UBS’s systems and controls.

Pottage argued he had done all he could to eradicate sloppy compliance in his division.

According to the FT the regulator had argued that Pottage, who became chief executive of the UK wealth management arm in September 2006, should have instigated a ‘root and branch’ review of UBS’s operations and compliance procedures sooner, and that by the time such a review started, in July 2007, a series of fresh compliance failings had occurred or been uncovered, including a £600,000 payment fraud, misuse of client money, a failure to pay UK withholding tax and a rogue trading incident.

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Monday, April 23rd, 2012 EN No Comments

Franklin Templeton rolls out Africa fund for Mobius

Franklin Templeton rolls out Africa fund for Mobius

Franklin Templeton will roll out a new Africa fund for its executive chair Mark Mobius.

The vehicle will launch as a sub fund of its Luxembourg-registered sicav range, Franklin Templeton Investment Funds (FTIF). 

The Templeton Africa fund will seek to deliver long-term capital growth to investors by investing directly in the equities of African nations or in companies based elsewhere, but conduct their principal business activities in Africa.

‘We believe Africa’s markets present significant opportunities for development due to a combination of strong economic growth, rising demand for the region’s vast natural resources, and a growing consumer market,’ Mobius (pictured) said.

‘Africa is expected to grow more than 7% annually in the next 20 years, due to an improving investment environment, better economic management and developed as well as emerging markets rising demand for the continent’s resources, all of which offers a compelling proposition to global investors,’ he added.

Franklin Templeton’s new offering will be available to investors next month, subject to approval from the Financial Services Authority (FSA).

The asset manager’s country head for the UK, Ian Wilkins, said demand for frontier market investments among retail and institutional investors is on the rise, prompting the firm to open its FTIF with a sterling share class.

Wilkins said: ‘UK retail and institutional investors are showing considerable appetite for frontier markets as they look to access the fastest-growing economies in the world. It is Mobius and the team’s conviction that now is the right time for investors to consider the African markets as they represent some of the most compelling growth opportunities over the long term.’

The more recent launches from Franklin Templeton include the Templeton Frontier Markets and the Templeton Asian Smaller Companies funds.  Both are managed by Mobius and the frontier markets vehicle has over three years to the end of March delivered 83.9% versus 44.9% by the MSCI FM TR Index in US dollar terms.

Mobius’ Asia smaller companies fund has delivered 135% over the same stretch, compared to 60.4% by the MSCI Pacific smaller companies benchmark.

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Monday, April 23rd, 2012 EN No Comments

Who’s News

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Roethel earns associate of year award

Randall J. Roethel of the Wisconsin Business Center of the Principal Financial Group was awarded Associate of the Year for 2011. This is the 16th time he has earned this honor of the 29 years he has represented The Principal Financial Group.

Roethel’s office is headquartered in Oostburg, and he has an additional office in Madison.

Turicik attends home inspectors seminar

Bob Turicik, owner of HomeReview Inspection Services LLC in Plymouth, recently attended the spring seminar of the Wisconsin Association of Home Inspectors in Baraboo.

Turicik successfully completed course studies in cement board siding, metal roofing, deck inspection and construction, remediation case studies and Madison legislative updates.

Turicik was also a member of the WAHI Peer Review and Education House committee.

Kohler names kitchen and bath group VP

Barry Creek was named vice president of global vitreous operations for Kohler Co.’s kitchen and bath group.

Creek joined Kohler in 1994 and has held several management roles during that time, including plant manager of the Brownwood, Texas, facility, manager of global vitreous process improvement and, most recently, director of quality for global vitreous operations.

He has a bachelor’s degree in chemistry from Howard Payne University in Brownwood, Texas, and an MBA from the University of Texas

Rainer qualifies for Million Dollar Roundtable

Jeffrey Rainer, managing director and wealth management adviser with the Rainer Financial Group of Northwestern Mutual, has qualified for membership in the Million Dollar Roundtable, an association of nearly 19,000 life insurance producers.

Rainer, of Glenbeulah, has been associated with Northwestern Mutual since 2003.

Locate Staffing reps attend WMC conference

Locate Staffing representatives John Escobar and Randy Schwoerer recently attended the Wisconsin Manufacturers Commerce Foundation conference in Madison, “Solving the Skills Shortage – The Workforce Paradox.”

The purpose of the conference was to bring together manufacturing companies throughout Wisconsin to address today’s workforce skills issues. More than 270 manufactures, schools, and business specialists attended the conference.

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Sunday, April 22nd, 2012 EN No Comments

Plan carefully for when that liquid gold comes

By BOBBY WARREN

Staff Writer

WOOSTER — If oil producers find a wet gas in this area, then landowners might see lease bonus payments reach thousands of dollars an acre.

And if that is the case, then people who never considered themselves affluent just might become so, and they should have a plan for what to do with the money, Jeff Herold, a senior vice president with PNC Bank Wealth Management, said.

Herold suggests property owners set up accounts to hold the money when the liquidity takes place, and people should realize up to 35 percent of the bonus lease payment could go to the government in taxes.

“Most people don’t realize a third will go to the federal government, not Ohio,” Herold said.

The lease payments are treated as ordinary income, said Bob Mapes, a certified public accountant with Rea Associates.

“Everybody’s looking for the silver bullet (to avoid paying taxes), but there just isn’t one,” Mapes said. “There’s no way to do that.

“Don’t listen to some of the goofy things that are out there; be careful with the schemes.”

People who have questions should call the Ohio Farm Bureau Federation or one of the landowner groups looking out for property owners to get the straight scoop, Mapes added.

Farmers engaged in a trade or business will have opportunities to purchase new equipment and write off the purchases for tax purposes, but Mapes does not recommend buying equipment unless it was planned already.

Herold said his family farms, and for a long time the family has been land rich, but cash poor. Potentially, his family might be looking at equipment upgrades, paying down the debt on the land and giving gifts to other family members to make sure the next generation is taken care of.

“Each landowner has their own unique circumstances, and I think their objectives are unique,” Herold said. So, he advises farmers, families and property owners to have a customized plan tailored to meet their needs and objectives.

Jamie Pittman, vice president of agricultural banking with PNC Bank, said in Pennsylvania, there have been some farmers who, after receiving lease bonus payments, decided they didn’t want to milk cows anymore, so they sold the farm and are enjoying life.

Some questions farmers might want to consider include: What does the balance sheet look like? Is there any debt they want to take care of? Is there a succession plan in place? Are there any children? Do they want to be involved and continue farming? How will any funds be distributed among the children? If there are no children, how will the money be invested?

Lease bonuses on some of the acreage in Carroll County has reached almost $6,000, Mapes said. What it ultimately reaches in the Wayne and Holmes counties area will be dependent upon whether or not they determine the gas here is wet or dry. Wet gas is worth more.

Mapes, who travels across Ohio for his firm, has talked with some people who are poised to receive large amounts of money, and some of the things they might want to explore include setting up trusts. Farmers might want to consider establishing a pension plan.

Some clients, though, are at the age where they are not looking for more money and are considering ways to leave the money to their children, Mapes added. Those with whom he has spoken have not expressed interest in philanthropy, but that is another option, he said.

No matter what happens, Herold and Mapes suggest people speak with a trusted tax professional, accountant, attorney and banker.

Reporter Bobby Warren can be reached at 330-287-1639 or bwarren@the-daily-record.com. He’s @BobbyWarrenTDR on Twitter.

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Sunday, April 22nd, 2012 EN No Comments

New HR Manager at Seashells Resort

Regine Debono Caruana has been appointed Human Resources manager for Seashells Resort at the Suncrest Hotel. Ms Debono Caruana has 21 years experience in the field of human resources management.

Joseph Vella, Seashells Resort General Manager said: “This new appointment further strengthens the resort’s management team as Ms Debono Caruana brings a wealth of knowledge and experience to this position and will play an important role in the development of the Seashells Resort at the Suncrest Hotel.

“I am confident that Regine will be an asset to us in her new position – she has an excellent work ethic and this, coupled with her experience in the area of human resources bodes very well for her future with the company,” he said.

Ms Debono Caruana worked for 10 years with Starwood Hotels Resorts and she was also member of the senior management team at Inspire foundation.

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Sunday, April 22nd, 2012 EN No Comments

Press Release: HSBC Qatar appoints new Head of Retail Banking and Wealth …

HSBC Bank Middle East Limited announced the appointment of Kris Werner as Head of Retail Banking and Wealth Management, Qatar. Mr Werner assumes his new post with immediate effect.

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Saturday, April 21st, 2012 EN No Comments

Press Release: HSBC Qatar appoints new Head of Retail Banking and Wealth …

HSBC Bank Middle East Limited announced the appointment of Kris Werner as Head of Retail Banking and Wealth Management, Qatar. Mr Werner assumes his new post with immediate effect.

Subscriber access only

Subscribe

Daily online access and weekly analysis in print, MEED helps you make business decisions with confidence.

Activate subscription

If you are already a subscriber to MEED, please activate for full online content.

Back

Back to MEED.com homepage

  • If you are a new, paid MEED subscriber accessing the site for the first time, please activate your account.
  • If you are a registered user who would like to to enjoy unlimited access to MEED.com, click subscribe to purchase a subscription or contact Customer Service by email or by calling +971 (0) 4 368 1588.
  • Alternatively, you may browse MEED.com as a registered user for free. Our quick registration will allow you to sample premium business intelligence which is otherwise only available to paying subscribers through our Editor’s Choice section, sign up for newsletters and to set up a library of saved articles.

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Saturday, April 21st, 2012 EN No Comments

HSBC Qatar appoints new Head of Retail Banking and Wealth Management

Media Enquiries to:

Greta Madgwick
Tel: 44254224

HSBC in the MENA Region

HSBC is the largest and most widely represented international banking organisation in the Middle East and North Africa (MENA), with a presence in 14 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. In Iraq, HSBC holds a majority shareholding in Dar Es Salaam Investment Bank. HSBC also maintains a representative office in Libya.

This presence, the widest reach of any bank in the region, comprises some 273 offices and around 12,000 employees. In the full year 2011, HSBC in the MENA region made a profit before tax of $1,492m.

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Saturday, April 21st, 2012 EN No Comments