Merrill Lynch is denying a financial advisor’s claims that the company improperly withholds deferred compensation from advisors who leave to join competitors.
The case is the latest legal battle involving a national brokerage firm and former advisors who assert that withholding deferred compensation is a violation of a federal retirement law. Advisors at Merrill and other firms are compensated based on how much revenue they generate for their employers. They get paid in a combination of cash and deferred pay, which vests…
