MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

Company Profile

As of Date 09/24/2026
ADV Location United States, NY
Websites
AUM* 2,776,558,026,648 41%
of that, discretionary 1,436,291,926,325 39%
Number of Employees 33,021 -6%
of those in investment advisory functions 25,746 -2%
Private Fund GAV* 0
Avg Account Size 507,252 133%
High Net Worth 27.25% 12%
SMA’s Yes
Private Funds 0

Adviser Type

- Large advisory firm
- Pension consultant

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pension and profit sharing plans
- Charitable organizations
- Insurance companies
- Corporations or other businesses not listed above
- Other

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses
- Pension consulting services
- Selection of other advisers
- Educational seminars/workshops

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Commissions

Disclosure Reporting

11.A(1) Convicted of felony (past 10 yrs)
11.A(2) Charged with felony
11.B(1) Convicted of investment-related misdemeanor
11.B(2) Charged with misdemeanor
11.C(1) SEC/CFTC found false statement
11.C(2) SEC/CFTC found violation
11.C(4) SEC/CFTC order in investment-related activity
11.C(5) SEC/CFTC civil penalty / cease and desist
11.D(1) Other regulator found dishonest/unethical
11.D(2) Other regulator found violation
11.D(3) Other regulator found cause of revoked authorization
11.D(4) Other regulator order (past 10 yrs)
11.D(5) Other regulator denied/suspended/revoked license
11.E(1) SRO found false statement
11.E(2) SRO found rule violation
11.E(4) SRO disciplined (expelled/suspended/barred)
11.F Attorney/accountant/contractor authorization revoked
11.G Currently subject to regulatory proceeding
11.H(1)(a) Court enjoined (past 10 yrs)
11.H(1)(b) Court found investment-related violation
11.H(1)(c) Court dismissed pursuant to settlement
11.H(2) Currently subject to civil proceeding
View 377 DRP Records

Recent News

Reported AUM

1,436B 1,231B 1,026B 821B 616B 410B 205B
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Discretionary
Non-discretionary

Private Funds

Employees

Form ADV-E Surprise Examination Reports

Accounting Firm Name Filing Date Form ADV-E
Accounting Firm Name PRICEWATERHOUSECOOPERS LLP Filing Date06/24/2026 Form ADV-E View Report
Accounting Firm Name PRICEWATERHOUSECOOPERS LLP Filing Date12/15/2025 Form ADV-E View Report
Accounting Firm Name PRICEWATERHOUSECOOPERS LLP Filing Date11/25/2024 Form ADV-E View Report

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