Richard Wilt
Richard Wilt is a registered investment advisor at Merrill Lynch, Pierce, Fenner & Smith Incorporated, based in Palm Beach, FL, with 30 years of industry experience. Richard 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
249 Royal Palm Way, Palm Beach, FL, 33480
Get directionsHistory
Regulatory History (6)
Customer Dispute
August 2013Customer Dispute
July 2011Customer Dispute
March 2009Customer Dispute
September 2006Customer Dispute
December 1999Customer Dispute
June 1998Other Business Activities
Richard is a board member and co-chair of the Atlantic High School-Academy of Finance-Advisory Committee, starting in July 2024. He dedicates minimal time to this advisory role for a high school finance curriculum.
Employment History
Current Registrations
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Merrill Lynch, Pierce, Fenner & Smith IncorporatedBroker
Previous Registrations
Citigroup Global Markets INC.
Citigroup Global Markets INC.Broker
Merrill Lynch, Pierce, Fenner & Smith IncorporatedBroker
State Registrations53 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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