Michael Payne
Michael Payne is a registered investment advisor at Merrill Lynch, Pierce, Fenner & Smith Incorporated, based in Manasquan, NJ, with 43 years of industry experience. Michael is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include High Net Worth, Investment Management, Retirement Planning. Their firm serves 1,838,984 clients with $1800B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Managed Account Advisors and Merrill Lynch charge an asset-based fee called the Account Fee, which consists of two parts:
- Investment Management and Trust Fee — Paid to Bank of America for its services, with rates set in your client agreement and subject to negotiation based on your portfolio value and account size.
- Style Manager Expense — Paid to the specific manager of your chosen strategy, generally ranging from 0.00% to 0.50% per year, and does not change based on portfolio size.
Total fees vary depending on the specific strategies and account size, and are deducted directly from your account on a regular basis.
Location
2504 Highway 35, Manasquan, NJ, 08736
Get directionsHistory
Regulatory History (3)
Customer Dispute
October 2008Customer Dispute
April 2005Customer Dispute
July 2003Other Business Activities
Michael is an advisory board member for the American Red Cross, a charitable organization, since 2018. He dedicates minimal time per month to this role, participating in committees such as fundraising and supporting U.S. Armed Forces and biomedical services.
Employment History
Current Registrations
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Merrill Lynch, Pierce, Fenner & Smith IncorporatedBroker
State Registrations42 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.
Exams
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