Displaying 2261 results
The rise of the RIAs: $1.7T and counting
Assets to the RIA channel have more than tripled over the last ten years, a trend that is 'redefining the way investment advice is delivered'
Danny Sarch: Bonus plan at MSSB has employees in an uproar
On Wednesday and Thursday of this week, Complex Managers at Morgan Stanley Smith Barney were told to participate in a conference call (the Wednesday call was repeated on Thursday) which was entitled: Compensation Communication Day Training. The slides, delivered by Human Resources, detailed how 2010 bonuses were being structured.
MSSB boss pulled down $10M in 2010
Fleming's comp package included $1.4M in cash, and nearly $4M in deferred cash; took over at brokerage in January
MSSB responds to Danny Sarch post on complex managers’ comp
Danny Sarch is entitled to pursue his blatant commercial self-interest through his regular attacks on Morgan Stanley Smith Barney, but he is not entitled to make false statements. In addition to inaccurate calculations regarding cash deferrals, his claim that “nobody ever suggested” branch manager bonuses “would be in anything other than cash” is untrue. (Read Mr. Sarch's Jan. 21 posting.)
How will the wirehouses continue to make money?
Then: Brokerage commissions for trades were high with a client routinely paying more than $1,000 for a large equity transaction.
A headhunter’s dinner with three unhappy advisers, Part 4
A Wirehouse Adviser, Regional Firm Broker, and a Boutique Firm Adviser are sitting with me for dinner. None of them are particularly happy with their current firms.
A headhunter’s dinner with three unhappy advisers, Part 3
Of the three buddies (Wirehouse Adviser, Regional Firm Broker, Boutique Adviser) who are sitting with me this night…
Securities firms to slash 80K jobs in 18 months: Whitney
Things are looking decidedly gloomy once again for securities firms. Meredith Whitney predicts banks will pay out puny bonuses for 2010, then start laying off tens of thousands of workers.
UBS’ U.S. retail brokerage takes a hit
UBS AG's retail-brokerage operations in the United States lost $63.8 million pretax in the second quarter, reversing a pretax profit of $14.3 million in the first three months of 2010.
Morgan Stanley said to expect bonuses to drop as much as 30%
Morgan Stanley, the sixth-largest U.S. bank by assets, has told some employees to expect investment banking bonuses to decline 10 percent to 30 percent, according to two people briefed on the matter.
No contest: Merrill stomping MSSB in wirehouse wars
In the clash of the two largest U.S. brokerages, Bank of America Merrill Lynch is generating more profit with fewer people than Morgan Stanley Smith Barney LLC.
Upstart HighTower snags $10B broker
Former Wall Street chieftains Philip Purcell and David Pottruck’s plan to snatch superstar brokers for a start-up advisory firm and independent broker-dealer is making significant strides as a top broker is preparing to leave the ruins of his old firm and go independent.
Wall Street edging back to hiring mode
Signs are emerging that Wall Street is looking to staff up after a long, painful purge.
Indie B-D recruitment slowing after torrid ’09
Leading independent broker-dealers are experiencing a sharp slowdown in efforts to sign up new representatives and advisers after…
Why more than 7K reps left the big brokerages in 18 months
After Morgan Stanley took control of Smith Barney in May 2009 from Citigroup Inc., David Hopkins grew disillusioned with his new bosses.
Indie B-Ds doing ‘considerably better’ than large rivals: S&P
Reaffirms independent broker-dealers' credit rating as 'stable'; brokerages could weather unexpected downturn
UBS nears wealth management turnaround, as outflows taper off
UBS AG, Switzerland's biggest bank, will probably report a fourth straight quarterly profit tomorrow and the lowest wealth management redemptions since 2008.
Wirehouse recruiting remains sluggish
Sluggish recruiting and the continued slow migration of advisers to smaller firms has left the three biggest wirehouses either adding minimally to the work force or watching the head count drop
Morgan Stanley takes a 3Q loss
Morgan Stanley, owner of the world's largest brokerage, reported a third-quarter loss of 7 cents a share after writing down a stake in Revel Entertainment LLC, an Atlantic City casino project.
Arbitrators: B-Ds kept brokers in the dark on private deals
From giants such as Citigroup Inc. to small broker-dealers such as Pacific West Securities Inc., brokerage firms have kept their representatives in the dark about problematic details in investments.
