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Merrill Lynch and Morgan Stanley: A tale of two fiduciary 401(k) business models
Each firm uses an approach that mitigates risk, but some observers say they're more for show than potential problem solving
Merrill Lynch woos $343 million Morgan Stanley team
Five-person group is based in Glen Rock, N.J.
Merrill Lynch outlines plans for its 401(k) fiduciary platform
Wirehouse is broadening the pool of advisers who can work with retirement plans as an investment fiduciary.
Merrill Lynch may be positioning itself for more commission flexibility in the future
The wirehouse said its advisory platform will be the go-to regardless of what happens with DOL fiduciary rule, but a modification or repeal of the regulation could lead to more flexibility.
The bull market for wirehouse recruiting deals is over. What will happen next?
Firms that make strategic changes will not only slow attrition, but position themselves to attract top talent for less than they are paying now.
The bull market for wirehouse recruiting deals is over. What will happen next?
Firms that make strategic changes will not only slow attrition, but position themselves to attract top talent for less than they are paying now
Morgan Stanley debuts fiduciary product for small 401(k) plans, with eye toward DOL rule
The wirehouse offers a way for non-fiduciary brokers working with 401(k) plans to continue working with clients in the small-plan market
DOL rule slows down wirehouse recruiting and crimps bonuses
Even though the fiduciary rule's future is in doubt, wirehouses are downsizing the bonuses they are offering veteran brokers to jump ship.
Merrill Lynch cuts its top rate on fee accounts
Reduction from 2.7% to 2.2% could save smaller clients $5,000 a year.
Breakaway UBS, Morgan Stanley teams form $750M RIA
Advisory teams from Houston offices of UBS and Morgan Stanley that collectively managed $750 million have formed Icon…
Morgan Stanley mulls moving New York City headquarters
Firm is considering buying space near Hudson River, site of BlackRock's new offices
UBS exploring fee-based annuities for advisers
The wirehouse would be jumping on a trend toward advisory business that analysts expect to accelerate because of the Labor Department's fiduciary rule.
DOL fiduciary rule class-actions costs could top $150M a year
The plaintiff's bar is licking its chops, looking for a new class to represent
Former Wells Fargo Advisors rep barred by Finra for excessive trading in elderly client’s account
The level of trading was unsuitable for the client given her age, risk tolerance and income needs, according to the regulator.
Merrill Lynch trying to make fees more transparent
The wirehouse will break out fees for asset management services and products including mutual funds, alternative investments and commodities when it mails January account statements later this week
Bank of America’s Merrill Lynch reports a 1% increase in number of financial advisers
Bank's wealth management unit reports higher earnings on lower revenue.
Broker-dealers have different views on recruiting over next six months
DOL rule could prompt some advisers to move ahead of time — and others to stay put until they gauge rule's impact.
Small Custodian Cover
When it comes to the custody of client assets, most registered investment advisers are drawn toward the brand…
Morgan Stanley to move ahead with changes despite uncertainty around DOL fiduciary rule
The firm will make “many” of the pricing and product design changes it planned last year, according to a memo sent to employees.
Steward Partners nears $5B as it continues to recruit wirehouse reps
The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
