The Wall Street Journal: Merrill Lynch may keep some commission-based retirement accounts

While sweeping retirement rules face a delay, Merrill Lynch may not do away entirely with commission-based retirement accounts after all.

Executives told the Bank of America Corp. BAC, +0.36% unit’s more-than 14,500 brokers in a conference call Thursday it planned to move ahead with plans to shift most of its retirement savers to accounts that charge a fee based on a percentage of assets from those that charge a commission, according people with knowledge of the matter.

However, Merrill head Andy Sieg admitted such conversions may not work for all of its customers, signaling the firm may ease off its plan to completely do away with Wall Street’s traditional sales model of charging commissions in individual retirement accounts.

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