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How Merrill Lynch plans to ‘grow’ thousands of advisers
The need - and the case - for developing and introducing new talent into the financial advice business has been well-documented: The total number of practicing FAs has been steadily decreasing for years, at a time when more individual investors are in need of advice. Practicing FAs, of course, are also getting older each year, creating a greater need for internal successors in many cases.
I’m a rep, I’m a PM, too
More brokers picking stocks for clients -- but are they up to speed?
UBS accelerates restructuring plan as U.S. wealth management shines
The Swiss bank announces plans to cut up to 10,000 additional employees over the next two years.
Wall Street, advisory firms funneling big bucks to Romney
Both presidential candidates are getting serious bucks from political action committees. Barack Obama's top donors? Universities. Mitt Romney's? Wall Street banks.
Downhill run for weaker wirehouses
The decline in wirehouses’ market share of assets in the advisory industry has been dramatic since the financial…
More wirehouse reps looking to leave home
New research shows that more wirehouse reps are looking to leave home. What's more, half are considering exiting the channel entirely. | The B-Ds that rate highest with potential breakaways »
HighTower lowers the gate for breakaways
Aggregator announces two new services that provide more autonomy to indie wannabes; 'brilliant move'
BofA sets sale of Merrill’s New Jersey campus
Bank of America has found a buyer for the sprawling 12-building office campus that its brokerage Merrill Lynch…
Team members out-earning solo advisers — and by a lot
Here's a pretty startling statistic: New data shows that advisers who work in teams make 32% more money than those who fly solo. Indeed, the average team member pulls down nearly $300,000 a year.
Smith Barney bites the dust
It's official — management at Morgan Stanley has eighty-sixed the 'Smith Barney' name, rebranding the iconic brokerage as Morgan Stanley Wealth Management. What would John Houseman think?
HighTower opens gates for breakaway advisers
HighTower Advisors, one of the fastest-growing registered investment adviser aggregator firms in the country, said that it will…
Don’t count wirehouses out, Goldman says
The idea that the wirehouses are finished and everybody's going independent is a myth, Charles Goldman, co-founder of…
Merrill settlement could ‘open a Pandora’s box’
Merrill Lynch's proposed settlement with ex-brokers was aimed at limiting litigation. But some lawyers say it may trigger more lawsuits. Here's why.
Merrill settlement could provide more ammo for brokers
Agreement will set the floor for future monetary claims; lowball figure would trigger new suits, lawyers say
Premiering May 1: Occupy Wall Street, the sequel
Banks are hurriedly bracing for widespread demonstrations, disruptions and disturbances on May 1, as the Occupy Wall Street movement kicks off a new season of rabble-rousing. Says one security expert: It's like elks versus wolves.
Washington Wealth cozies up to LPL
Affiliation will aid hybrid firm's projected expansion to $3B in assets by end of 2013
Now work really starts at MSSB
Brokers and other observers say a culture clash and cost cutting have left legacy Smith Barney reps feeling demoralized and could cause more of the firm's brokers to leave.
Schapiro still married to idea of single fiduciary standard
SEC boss says work continues on proposal; 'I've kept the issue alive and moving forward'
HighTower snags two big teams from Merrill Lynch
Set up the company's first Las Vegas office; two other teams exit the herd as well
Are wirehouses dinosaurs? Citi, MS haggling over Smith Barney could offer clues
Low-ball valuation by Morgan Stanley doesn't inspire great confidence in future of big brokerage business
