South Pasadena, 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
929 Fair Oaks Ave
South Pasadena CA 91030
Advisors at this office
3
Advisors at this office
Phillip L
Series 66
South Pasadena, CA
Merrill
Phillip Lehman is a financial advisor at Merrill with Series 66 credentials and one year of industry experience. His work history includes roles at Bank of America and Advanced Energy Solutions, as well as experience at the University of Arizona. Merrill, together with its affiliate Managed Account Advisors LLC, provides managed account services for Bank of America fiduciary clients through the Select Portfolio Solutions Program, offering model-based and discretionary strategies for individuals, high-net-worth clients, pension and profit-sharing plans, corporations, and charitable organizations.
Zhouyuan W
Series 63, Series 66
South Pasadena, CA
Merrill
Zhouyuan Wu is a financial advisor at Merrill with Series 63 and Series 66 licenses and one year of industry experience. Prior to joining Merrill, Wu worked at J.P. Morgan Securities and JPMorgan Chase Bank, N.A. Wu has held roles at Lions Financial and has academic experience from Johns Hopkins University and Binghamton University. Merrill, along with its affiliate Managed Account Advisors LLC, provides managed account services through the Select Portfolio Solutions Program for Bank of America fiduciary clients. The firm offers both model-based and discretionary investment strategies for a range of clients including individuals, high-net-worth clients, and institutional investors.
Jing L
Series 63, Series 66
South Pasadena, CA
Merrill
Jing Liu is a financial advisor at Merrill with 12 years of industry experience. Liu holds the Series 63 and Series 66 designations and has worked at Bank of America/Merrill since 2017, including a prior role at Shoujun Asset Management Limited. Merrill, along with its affiliate Managed Account Advisors LLC, provides managed account services to Bank of America fiduciary clients through the Select Portfolio Solutions Program. The firm offers model-based and discretionary investment strategies supported by internal and third-party managers, serving individual, high-net-worth, and institutional clients.
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