Merrill Lynch is nixing a ban on charging commissions in retirement accounts, marking a reversal for a Wall street brokerage that has said fee-based services are better for clients. The decision, effective Oct. 1, is the result of a review the brokerage arm of Bank of America Corp. launched in June after a U.S. Circuit Court threw out the Labor Department’s so-called fiduciary rule, which was meant to protect retirement savers from conflicted financial advice.

Source: Wall Street Journal August 30, 2018 14:15 UTC