Merrill Lynch, Pierce, Fenner & Smith Incorporated

Registered investment adviser · New York, NY · CRD #7691

Form ADV data as of 2026-09-01

Regulatory assets

$1.78 trillion

Total accounts

3,253,265

Employees

32,960

Disclosure events

474

Firm details

Website: http://www.youtube.com/bankofamericaprivatebank
Telephone: 800-637-7455
SEC file number: 801-14235
Most recent Form ADV filing: 2026-08-26
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 20 disclosure questions answered Yes, covering 474 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

Convicted of or pled guilty/no contest to a felony (past 10 years)
Charged with a felony (past 10 years)
Convicted of or pled guilty/no contest to an investment-related misdemeanor (past 10 years)
Charged with an investment-related misdemeanor (past 10 years)
SEC or CFTC found a false statement or omission
SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
Another regulator found a violation of investment-related regulations or statutes
Another regulator found the firm caused a business to lose or have its authorization restricted
Another regulator entered an order in connection with investment-related activity (past 10 years)
Another regulator denied, suspended, or revoked a registration or restricted activity
A self-regulatory organization found a violation of its rules
A self-regulatory organization expelled, suspended, barred, or restricted the firm
An authorization to act as an attorney, accountant, or federal contractor was revoked or suspended
Currently subject to a regulatory proceeding that could result in a disclosure under 11.C., 11.D., or 11.E.
A court enjoined the firm in connection with investment-related activity (past 10 years)
A court found involvement in a violation of investment-related statutes or regulations
Currently subject to a civil proceeding that could result in a disclosure under 11.H.(1)

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$441.30 billion
Non-discretionary regulatory assets under management	$1.34 trillion
Total regulatory assets under management	$1.78 trillion
Discretionary accounts	713,174
Non-discretionary accounts	2,540,091
Total accounts	3,253,265
Regulatory assets under management attributable to non-U.S. persons	$28.52 billion

People

Total employees (excluding clerical)	32,960
Employees performing investment advisory functions (including research)	25,721
Employees who are registered representatives of a broker-dealer	26,599
Employees registered as investment adviser representatives with a state	25,721
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	11,262
Firms or persons who solicit advisory clients on the firm's behalf	2

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$1.84 trillion
Clients for whom the firm has custody	1,841,665
A related person has custody of client cash or bank accounts	Yes
A related person has custody of client securities	Yes
Client funds and securities held in a related person's custody	$4.91 billion
Clients for whom a related person has custody	7,080
The firm acts as a qualified custodian	Yes
A related person acts as a qualified custodian	Yes
Number of persons acting as qualified custodians for the firm's clients	4

How the firm is compensated

A percentage of assets under managementFixed fees (other than subscription fees)Commissions

Advisory services offered

Portfolio management for individuals and/or small businessesPortfolio management for businesses or institutional clientsPension consulting servicesSelection of other advisers (including private fund managers)Educational seminars/workshopsOther

Other business activities

Broker-dealer (registered or unregistered)Insurance broker or agent

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Registered security-based swap dealerFutures commission merchantBanking or thrift institutionTrust companyInsurance company or agencyPension consultantReal estate broker or dealer

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys securities from or sells securities to advisory clients (principal transactions)
Buys or sells for itself securities it also recommends to clients
Recommends securities in which it has another proprietary interest
Executes agency cross transactions involving advisory client securities
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Brokers or dealers selected under 8.C.(3) are related persons
Recommends brokers or dealers to clients
Brokers or dealers recommended under 8.E. are related persons
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	1,269,968	$313.53 billion
High net worth individuals	521,763	$1.23 trillion
Pension and profit sharing plans (not the participants or government plans)	17,422	$58.95 billion
Charitable organizations	6,759	$43.03 billion
Insurance companies	246	$5.95 billion
Corporations or other businesses not listed above	22,807	$131.16 billion
Other	19	$1.44 billion