Jim Iannazzo Net Worth 2024

Jim Iannazzo Net Worth – $5 million

What is Jim Iannazzo’s net worth? Also, what was Jim Iannazzo’s salary at Merrill Lynch?

Introduction

Jim Iannazzo is a former wealth management advisor and managing director for Merrill Lynch Wealth Management, an American-based investment management and wealth management division of Bank of America.

He is also a Certified Financial Planner.

The Origin Story

He was born in Norwalk, Connecticut, and attended Norwalk High School.

Following his graduation in 1991, he enrolled at the University of Connecticut and graduated in 1995 with a bachelor’s degree.

There is little else known about his personal life.

Immediately following Iannazzo’s graduation, he landed a financial and investment sector job with Merrill Lynch Wealth Management.

At the time of writing, Jim spent over 25 years in various financial executive capacities, including Managing Director for many multi-dollar portfolios.

He managed to work his way up to a relative prestige status in a short period of time.

Iannazzo holds a Series 66 Licence, due to which he is eligible to work as a securities agent and investment advisor representative.

It is a license that, once achieved, qualifies the holder to practice as an investment advisor representative or securities agent.

As an investment advisor, he is equipped to assist Texas and Connecticut-based investors, as his credentials restrict him from practicing in other jurisdictions.

Iannazzo assists his clients in analyzing their wealth structure based on their investment portfolios. Moreover, he is responsible for designing integrated tax-minimization and estate planning strategies for said clients to minimize their tax commitments while maximizing their wealth.

As a result of his immaculate ability to manage this, Jim attracted highly wealthy clients.

In the early stages of his career, he served retired and corporate executives. Apart from them, he assists some of the more affluent members of society, including physicians, attorneys, investors, entrepreneurs, and accountants.

In addition to Iannazzo’s distinguished professional background at Merryl Lynch, he has worked for many other upscale institutions as a leading wealth counselor and portfolio manager, and a Certified Financial Planner.

Due to his long list of accomplishments and leading success in the field, he is listed as one of Barron’s Top 1200 Advisors: State by State.

Adding to this, Iannazzo made it onto the Forbes list as one of the 25 best in-state wealth advisers in 2021.

The Incident

Although he appears to have carved out the ideal life, he was faced with a life-changing event in 2022 due to his poor choice of behavior.

When he and his 17-year old son entered a Robeks store to order smoothies, his son suffered life-threatening anaphylactic shock after having a drink from the store, which led to his hospitalization.

This was due to a nut allergy he suffered from, but his drink contained traces of it.

Iannazzo became highly irate, shouting at the employees using foul language and ultimately throwing the smoothie drink at her.

The entire encounter was recorded by another employee and, shortly after, was posted to TikTok.

After learning the video went viral, Iannazzo turned himself in to the local police station, which led to his arrest.

He was charged with intimidation based on bigotry or bias in the second-degree, second-degree breach of peace, and first-degree criminal trespass.

Following his arrest, he contacted his lawyer, who publicly released a statement on behalf of Iannazzo. “He deeply regrets his actions and acted completely out of character.”

In April 2022, Iannazzo was sentenced to probation under a rehab program.

Getting Fired

Since all actions have consequences, particularly actions that are videotaped and viewed by millions of people worldwide, Iannazzo would soon face more.

Merrill Lynch fired him on Sunday after learning about the infamous TikTok video.

Merrill Lynch spokesperson Bill Halldin released a public statement following Iannazzo’s very public termination where he said that “this individual is no longer employed at our firm.”

There was a fair amount of contention between the public regarding how people felt about his termination.

Many people were pleased with the decision to terminate Iannazzo since he acted egregiously in a public setting.

Others were quick to defend him and call out Merrill Lynch for making such a hasty decision considering the circumstances.

Since his son was faced with a life-threatening seizure due to an employee error who had been informed of his allergy, many people were of the opinion that Iannazzo acted in accordance with the severity of the situation, as his son could have lost his life.

Following his termination, he publicly expressed his regret. 

In the aftermath of everything, he managed to settle the dust and settle in a new job.

On March 15, Iannazzo was hired with Aegis out of the company’s office in Westport, Connecticut.

It is another upscale community on Connecticut’s Gold Coast adjacent to the Long Island Sound, about 50 miles outside New York City.

As of then, he has managed to stay under the radar and has dealt with all the charges laid against him.

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Jim Iannazzo – Net Worth & Salary 2024

So, how much is Jim Iannazzo worth? Iannazzo earned most of his wealth from working at Merrill Lynch Wealth Management. Therefore, wealth management advisor Jim Iannazzo has an estimated net worth of $5 million.

Jim Iannazzo’s salary at Merril Lynch was not released to the public, however, someone in a similar position can easily earn $300k per year. This does not include any bonus payments and other compensations.

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