So the Bank of America buys Merrill Lynch, what does that mean to ML clients, if anything?

[raccoon]

Will ML financial advisors keep their jobs?

[madinmaryland]

1. I'm sure the financial advisors will keep their jobs. It is the back office

support people, IT folks, etc. that will be in trouble. Interestingly though, in early 2000 ML began outsourcing much of their IT work. (I was there at the time, and left because of that.)

[Warpy]

2. Your accounts will stay what they are

and you will probably keep the same financial adviser. You might be transferred to Banc of America if your account is large enough, although I don't see that happening unless you approve the swap.

What this means is that Bank of America will rival Citigroup in scope and size, but without quite as much baggage.

[zbdent]

3. It means that the CEO of Merrill Lynch will be giving a reassuring speech about

remaining calm ... beamed direct from his gold-plated yacht ...

[gravity]

4. There not going to change a thing for the business

If the clients and advisors are bringing in money, then nothing is going to change. The Merill Lynch name is going to remain the same too.