Ladera Ranch, CA Office
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Merrill
Institution
Firm-wide stats for Merrill
About
Merrill, together with its affiliate Managed Account Advisors LLC (MAA), provides managed account services to Bank of America fiduciary clients through the Select Portfolio Solutions (SPS) Program. The firm offers model‑based and discretionary strategies constructed by internal Chief Investment Office (CIO) teams and third‑party style managers and implements trading, account administration and custody support for individuals, high‑net‑worth clients, pension and profit‑sharing plans, corporations and charitable organizations.
Portfolio implementation varies by Strategy: some are model‑based where MAA implements CIO or style manager models, while others authorize third‑party Discretionary Managers to execute trades directly; the CIO also uses strategic and tactical asset allocation and offers “tax aware” versions of related strategies for higher tax‑sensitivity investors. Cash allocations are typically swept through the Bank’s Cash Sweep Program or invested in money market alternatives, and clients can request reasonable investment restrictions (which MAA may accept or decline and may have limited effect where Funds are used).
Several features in the brochure distinguish Merrill from many peers: as part of the Bank of America group it has affiliates that operate in swaps and derivatives markets and it has disclosed planned arrangements to receive “Support Fees” and to offer optional Data Analytics to third‑party firms beginning January 1, 2027 (the brochure notes Merrill will not receive Support Fees for accounts enrolled in the SPS Program). The firm also discloses multiple SEC administrative orders and related enforcement matters (including a 2025 order with a $25 million civil penalty related to cash sweep disclosures), and the Program materials do not present the SPS service as a source of standalone financial planning.
Based on Merrill
Location
Ladera Ranch CA
Advisors at this office
3
Advisors at this office
Daniel P
CFP®, Series 63, Series 65
Ladera Ranch, CA
Merrill
Daniel Palmer is a CFP®-designated financial advisor with Merrill, where he has worked since 2009. He has 32 years of industry experience and has also been affiliated with Bank of America, N.A. since 2003. Palmer serves as a power of attorney in a fiduciary role for a family member. Merrill, together with its affiliate Managed Account Advisors LLC, provides managed account services to Bank of America fiduciary clients through the Select Portfolio Solutions Program, offering both model-based and discretionary investment strategies for individuals, high-net-worth clients, pension plans, corporations, and charitable organizations.
Sheila C
Series 66
Ladera Ranch, CA
Merrill
Sheila Carlson is a Senior Financial Advisor at Merrill Lynch Wealth Management, bringing over 25 years of experience in the financial services industry. She holds the Chartered Retirement Planning Counselor (CRPC) and Personal Investment Advisor (PIA) designations. Sheila is a graduate of the University of Colorado at Boulder. Before joining Merrill, Sheila was the owner and controller of her own aerospace manufacturing firm and has an extensive background in accounting. Her financial advising approach involves a disciplined wealth management process, allowing her to understand and align with her clients' financial goals and aspirations. She works with clients to develop individualized financial roadmaps that are meaningful to them and their families. Sheila focuses on areas including family wealth management strategies, services for endowments, foundations and non-profits, retirement income planning, and small business strategies. Outside of her professional career, Sheila enjoys hiking, horseback riding, reading, skiing, spending time with her family, swimming, and practicing yoga.
Michael K
Series 63, Series 65
Ladera Ranch, CA
Merrill
Michael Kelly is a financial advisor at Merrill with 28 years of industry experience. He has been with Merrill since 2012 and holds Series 63 and Series 65 licenses. Merrill serves a broad range of clients, including individuals, retirement plans, corporations, and institutional clients, offering managed accounts, third-party manager selection, discretionary portfolio management, brokerage execution, and custody services. The firm emphasizes manager selection and monitoring, with integrated tax-efficient capabilities and a close affiliation with Bank of America’s broader banking and capital markets platform.
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