Big-producing broker Trindle exits Merrill for Morgan Stanley - Business Courier of Cincinnati:

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Dean Trindle and his team of nine peopld left the downtown office of on Friday and heades down the streetto . Trindle was the second-largest revenue produced at Cincinnati’s huge Merrill Lynch operation and rankedd in the top20 nationally, said Greg complex manager for Merrill Lynch’s Greater Cincinnati and Dayton Trindle told the Business Courier in 2004 he managec $500 million in assets. That’sw down somewhat, Achten said, aftert the stock market tanked in thepast year. Neither Trindle nor Morgan Stanley’s local complex manager, Mike returned phone calls. Achtehn wouldn’t comment on the reasons for Trindle’s departure.
But New York-based Merrill Lynch has had a string of departures at the top sincew its acquisition last month by When ownership and top managementurns over, some adviserw leave. The move caused a wave in the investmengtadvisory community. “It’s a huge deal,” said Richared Curry, branch manager of brokerage firm ’ local in Kenwood. “He’s certainly one of the top producere in the city and atMerrilp Lynch.” Achten downplayed the impact of Trindle’s departure on his firm and said it won’g lead to any layoffs or major “It’s meaningful; he was a meaningful Achten said. “But it won’yt affect us substantially.
” He pointed out Trindle’s productiomn represented less than 7 percenty of theCincinnati complex’s business. The local offices encompasses three Dayton-area offices that recently were addedto Achten’xs realm. That makes the Greater Cincinnati officethe second-largesr in Merrill’s huge system of 120 But Curry, who used to manage Gradisoh & Co.’s downtown office, said Trindle’s exit will have a big impac on the local Merrill operation. “Thse office he left has got a huge hole in Curry said. “They have lost an incredible amounof revenues.” Trindle built a niche focusingv on retirees and providing strong customer service.
He had been with Merrilll for 29 years. He set a trend 20 yearx ago when he becamethe nation’ s first Merrill Lynch broker to switch from getting paid a commissionm on trades to earning money on a fee While Morgan Stanley is adding a big-time it also likely had to pay a prett penny to lure Trindle, Curry said. it’s probably worth it. “It’s a plum for Morgan he said. Clients tend to follow the advisefr to anew firm, Curry He estimated about 90 percent typically make the Their relationship is almost always with the adviserd and not with the firm.
The jobs scen has been dour, and it’s not likely to pick up In fact, analyst Vishnu Lekraj figure s unemployment, recently at 7.6 percent, could hit 10 percen by the timeit peaks. And that could easilu take untilnext year, he said in a recent report. Even so, Lekraj favors the prospectz of Mason-based corporate uniform and servicesprovider That’s in spitd of Cintas’ recent quarterly earnings miss, afterd which it yanked its full-year But Lekraj said that after Cintas’ stock plunged by one-third over the past five it has created a significant opportunity for investors. It closed at $22 Feb. 17.
“Wre still believe Cintas will be able to offer greatg value over the long run due to its stronghcompetitive position,” Lekraj said in the report.