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Saturday, Jun 3, 2023

McFadden Tapped to Oversee Regional Offices of Merrill Lynch

Charles J. McFadden has been named complex director for the Valley Coast complex at Merrill Lynch, the largest wealth management firm in the greater San Fernando Valley. McFadden, a 24-year veteran of the financial services industry, takes a post that encompasses eight offices located from Encino to San Luis Obispo, 140 financial advisors and a total of 225 employees. Most recently, Merrill Lynch added offices in Santa Maria. McFadden is based out of the firm’s Westlake Village offices. He joined Merrill Lynch, a global firm with some $1.6 trillion in assets under management, in 2004 as associate director of the firm’s Paramus, N.J., complex. Although his initial efforts have involved familiarizing himself with the market here, he said he sees considerable growth potential in the region. “We have 130 complexes in the country, and the growth potential here is probably on the high end compared to the other markets,” McFadden said. Merrill Lynch’s market share in the region is one reason as is its large product offering, McFadden said. At the same time population and demographic trends are working in the company’s favor. “We had three great years during the tech boom and when that went away, a lot of people who thought they could retire quickly couldn’t,” said McFadden of the aging baby boom population. With more baby boomers seeking the services of financial planners Merrill Lynch and others have seen their market share grow. McFadden estimates that the firm has seen its market share based on financial advisors increase an average of 5 percent to 10 percent in recent years. McFadden began his career at Goldman Sachs in New York where he was manager of the operations control department for the New York institutional and private client sales group and, since then has traveled literally around the world as his career progressed. After joining what was then Prudential-Bache Securities as vice president of international operations, he relocated to Melbourne, Australia as general manager of the broker/dealer operation there. From there, he moved to London to take a post as first vice president for the international division of Prudential Securities private client group. McFadden returned to New York in 1996 as director of administration for Prudential Securities’ international division, a post that included responsibility for the commodities division, and in 1998 he became first vice president and manager of Prudential’s Walnut Creek Private client office. He later added responsibility for the Palo Alto office before moving back east as first vice president and manager of the private client office of what is now Wachovia Securities before joining Merrill Lynch.

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