The companies have introduced seven new model portfolios that optimize the advantages of both active and passive fund management.
Sieg said the unit is focused on investing in Merrill's existing technology, which includes its own self-directed investing tool.
Demographic changes and the emergence of new competition for wealth advice are set to dramatically alter advisory practices.
Trump again lashed out at the Federal Reserve, criticizing the institution for its monetary policies, while also calling for negative interest rates.