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UBS retail-products executive takes leave
Michael Weisberg, the head of products and services for UBS AG's U.S. and Canadian wealth management businesses, has taken an indefinite leave of absence, a UBS spokeswoman confirmed.
Millionaires show signs of optimism, but remain wary
The Spectrem Millionaire Investor Index in July rose 4 points to -16 — “mildly bearish.”
Tiger 21, networking group for high-net-worth investors, to open Chicago chapter next month
Tiger 21 LLC, a peer-to-peer networking organization for high-net-worth investors, said it will open a chapter in Chicago next month.
Sallie’s back: Krawcheck to lead BofA’s wealth management group
Former top Citigroup executive Sallie Krawcheck is joining Bank of America Corp. as head of its global wealth and investment management group, according to a statement from the Charlotte, N.C.-based company.
Baird hired 77 advisers in first half of year
Robert W. Baird & Co. of Milwaukee has continued to expand its wealth management business, setting an internal recruiting record by hiring 77 financial advisers in the first half of this year.
RBC snags Merrill vet, extends adviser hiring binge
RBC Wealth Management has lured away yet another rep from a wirehouse and continues to add financial advisers at a substantial clip.
Citigroup phasing out platform for ’emerging affluent’
Citigroup is shutting down its myFi brand, a financial advice platform for the “emerging affluent” market, which targets people with less than $500,000 to invest.
Wealthy and affluent high on economy, leery of market
Although affluent and millionaire investors may be more optimistic about the economy, they are still not confident about the stock market, according to a survey released today by Phoenix Marketing International of Rhinebeck, N.Y.
Neuberger Berman to acquire Lehman trust companies
Neuberger Berman Group LLC today announced that it has agreed to acquire the businesses of Lehman Brothers Trust Company, N.A. and Lehman Brothers Trust Company of Delaware.
Pirker to lead Aite Group’s wealth management unit
Aite Group LLC is increasing its focus on wealth management and, to that end, has promoted Alois Pirker to research director to lead the wealth management practice, the Boston-based firm announced today.
Mitchell Cox joins Barclays Wealth as head of global investments
Mitchell Cox has joined the Barclays Wealth unit of Barclays Capital Inc. in New York as managing director and head of the global investment and product office.
After burst of optimism, consumer confidence sags in July
Consumer confidence, which spiked briefly during the recent stock market rally, is resetting to the levels seen earlier this year, according to the latest report from Toronto-based RBC Capital Markets.
Advisers of rich and superrich have less wealth to manage
Wealth managers got some bad news today from an annual study of the size of wealthy markets in the United States.
Wealth firms say key to job is seasoning
In an effort to bolster sagging client confidence, wealth management firms are placing a premium on experience when…
Stanford Financial alums sign up with new wealth firm
Ten former Stanford Financial Group advisers have formed Solamere Advisors, a new wealth management firm in Charlotte, N.C.
BofA topped UBS as 2008’s biggest international wealth manager, survey finds
Bank of America Corp. last year became the biggest international wealth manager, according to a survey released by London-based consultant Scorpio Partnership Ltd.
Millionaires suspicious of market rally, poll indicates
The equity-market’s surge of nearly 40% since March has made the nation’s wealthiest individuals oddly pessimistic.
First quarter rough on wealth managers’ client base, assets
The average U.S. wealth management firm experienced client attrition of 6% to 10% and asset attrition of 11% to 25% in the first quarter, according to the Global Private Banking and Wealth Management Survey released today by PricewaterhouseCoopers LLP.
Millionaires to advisers: Thanks for limiting our losses
A survey of millionaires showed that a majority believed their financial advisers limited their investment losses last year.
Wealth managers must improve business model to retain clients, report says
In an effort to retain assets and regain the confidence of high-net-worth clients, wealth managers must find ways to improve their overall business model, according to a new report.
