Thirty-five percent of clients are expected to complete a conversion by year end, according to a survey of 500 tax advisors, which corresponds with Fidelity figures that showed a surge in investor interest in Roth IRA conversion guidance in January.
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Gary Shedlin joined Citigroup in 2004 and has had several high-profile banking assignments since then, including work for BlackRock.…
These changes come after former Merrill Lynch executive Robert McCann became head of Wealth Management Americas in October 2009.…
As it nears 12,000 advisors, LPL Financial stands just below Morgan Stanley Smith Barney (18,135 FAs), Bank of America-Merrill Lynch (15,006) and Wells Fargo Advisors (14,961).…
Jimmy Tighe had been with Citi for 16 years; reportedly may join BofA-Merrill.…
In terms of its advisor headcount, the broker-dealer has some 550 reps, down from over 600 a year ago, and says it is “emphasizing recruiting quality over quantity and culling lower-producing representatives.”…
HighTower has just recruited the Strata Group, which manages some $500 million in assets, from Morgan Stanley Smith Barney.…
Recruited advisors continue to join Raymond James from Merrill Lynch, Morgan Stanley Smith Barney and Wells Fargo Advisors.…
Barclays Wealth now has 120 advisor teams aimed at clients with at least $10 million in assets.…
Papers on investing must be submitted by March 15; prizes include top award of $10,000. …
Barclays Wealth, now run by a former Merrill Lynch executive, hired 50 investment representatives last year and aims to double that number this year.
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Merrill Lynch's 'thundering herd' now stands at about 15,000 advisors, putting it well behind rival Morgan Stanley Smith Barney with 18,135 advisors.…
Baird continues to attract wirehouse advisors, like Dennis Rowland, as it opens new offices nationwide.…
Total number of financial advisors at Wells Fargo falls to 14,961 from 15, 143 in the third quarter.…
After Smith Barney merger, advisors have an average of $692,000 in trailing-12-months' sales and $86 million in client assets under management.…
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March 11, 2010 Thirty-five percent of clients are expected to complete a conversion by year end, according to a survey of 500 tax advisors, which corresponds with Fidelity figures that showed a surge in investor interest in Roth IRA conversion guidance in January.
...
March 09, 2010 Gary Shedlin joined Citigroup in 2004 and has had several high-profile banking assignments since then, including work for BlackRock....
March 04, 2010 These changes come after former Merrill Lynch executive Robert McCann became head of Wealth Management Americas in October 2009....
March 01, 2010 As it nears 12,000 advisors, LPL Financial stands just below Morgan Stanley Smith Barney (18,135 FAs), Bank of America-Merrill Lynch (15,006) and Wells Fargo Advisors (14,961)....
February 19, 2010 Jimmy Tighe had been with Citi for 16 years; reportedly may join BofA-Merrill....
February 17, 2010 In terms of its advisor headcount, the broker-dealer has some 550 reps, down from over 600 a year ago, and says it is “emphasizing recruiting quality over quantity and culling lower-producing representatives.”...
February 17, 2010 HighTower has just recruited the Strata Group, which manages some $500 million in assets, from Morgan Stanley Smith Barney....
February 12, 2010 Recruited advisors continue to join Raymond James from Merrill Lynch, Morgan Stanley Smith Barney and Wells Fargo Advisors....
February 11, 2010 Barclays Wealth now has 120 advisor teams aimed at clients with at least $10 million in assets....
February 08, 2010 Papers on investing must be submitted by March 15; prizes include top award of $10,000. ...
February 04, 2010 Barclays Wealth, now run by a former Merrill Lynch executive, hired 50 investment representatives last year and aims to double that number this year.
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February 03, 2010 Merrill Lynch's 'thundering herd' now stands at about 15,000 advisors, putting it well behind rival Morgan Stanley Smith Barney with 18,135 advisors....
February 01, 2010 Baird continues to attract wirehouse advisors, like Dennis Rowland, as it opens new offices nationwide....
January 25, 2010 Total number of financial advisors at Wells Fargo falls to 14,961 from 15, 143 in the third quarter....
January 20, 2010 After Smith Barney merger, advisors have an average of $692,000 in trailing-12-months' sales and $86 million in client assets under management....
January 20, 2010 Rival Morgan Stanley – 18,135 advisors in its Morgan Stanley Smith Barney venture – just reported that its fourth-quarter trailing-12-month sales stand at $692,000. ...
January 19, 2010 Former Merrill Lynch execs hope to improve results at UBS Americas, which includes about 7,300 advisors....
January 14, 2010 The wealth-management executive at BofA says the top-two quintiles of FAs not leaving en masse to join RIA, other channels....
January 13, 2010 Group added more than 100 financial advisors in 2009. ...
January 05, 2010 Brokers with Wells Fargo Advisors can earn up to 2 percent of total sales in 2010 by meeting certain targets for net new client assets. ...
December 18, 2009 'Increase savings' ranks as the top financial priority for Americans in 2010, according to an Edward Jones survey of 1,000 individuals. ...
December 16, 2009 Commonwealth’s average revenue per new, or recruited, advisor increased 40 percent year-over-year, reaching $350,000 in gross dealer concessions (GDC), or sales commissions....
December 11, 2009 FINRA will not have oversight of advisors associated with B/Ds, for now....
December 09, 2009 Perhaps the most controversial aspect of the bill would require brokers, and any other financial professionals holding themselves out as advice-givers, to adhere to a fiduciary standard similar to that of registered investment advisors. ...
December 01, 2009 LPL said it bought the three companies from Pacific Life in 2007 for nearly $100 million. ...
November 20, 2009 Nearly half of 200 survey respondents indicate that they would actually consider a move to independence. And, Schwab says, 126 teams have moved to an independent model with the firm in the first nine months of 2009 vs. 123 teams in all of 2008.
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November 18, 2009 The total bonus pool – including cash and deferred compensation – could be higher than last year, but compensation reform will restrict the amount paid in cash this year, according to New York comptroller....
November 17, 2009 Disclosure records for former brokers will be available on BrokerCheck beginning November 30, FINRA says, and the records will remain online -- even if the rep leaves the industry....
November 16, 2009 Independent broker-dealer has 600-plus financial advisors, and recruited advisors have rising fees, commissions and sales. ...
November 13, 2009 Hennessy Focus 30 Fund joins Morgan Stanley Smith Barney platform, used by 18,160 advisors....
November 06, 2009 Some 5,700 advisors with yearly fees and commissions of $650 million go to Lightyear Capital....
November 04, 2009 After selling some 380 advisors to Stifel Nicolaus, UBS Americas now has 7,286 advisors in its ranks as of September 30, 2009....
November 02, 2009 Raymond James Financial has more than 5,300 financial advisors as of September 30, 2009....
October 27, 2009 Industry experts speculate that McCann may focus on getting some or all of the brokerage business ready for sale. ...
October 20, 2009 Nearly 90 percent of those surveyed believe it is important to invest in equities in the years leading up to retirement, the latest Vanguard research shows....
October 19, 2009 And outsiders say that as investors move from fixed-income to equities, Pimco would like to participate. ...
October 07, 2009 Bank of America re-introduces Merrill Lynch in major ad campaign, cites “the importance of culture.” ...
October 05, 2009 New business model lets advisors conduct brokerage business and run their own RIA at the independent broker/dealer.
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September 23, 2009 Hennessy Advisors now manages the SPARX Funds, which have been renamed the Hennessy Select SPARX Japan Fund and Hennessy Select SPARX Japan Smaller Companies Fund. ...
September 21, 2009 He believes there should be one and only one set of rules for all advisors, regardless of what type of broker-dealer or RIA arrangement they have....
September 10, 2009 Leader of Morgan Stanley venture with Smith Barney and 18,450 advisors will also serve on firm's board of directors....
September 03, 2009 In the New York case, the plaintiffs claim Morgan Stanley wrongly marketed Cheyne as a high-quality investment, and that the rating agencies assigned improperly high ratings....
September 01, 2009 Broker-dealers must fulfill their supervisory duties and compliance role as they make upfront and ongoing promises to advisors. ...
August 12, 2009 The tax evasion case is being resolved by UBS and government officials. ...
August 04, 2009 Bank of America announced that Krawcheck, a veteran of Citigroup Smith Barney, will join as head of BofA’s global wealth and investment management group. ...
August 01, 2009 While UBS is likely to stay focused on such clients and its private-banking operations, its broader brokerage operations could be further spun-off in the near few years....
July 29, 2009 A new deal means Fidelity's retail and institutional brokerage clients will have the ability to buy initial public offerings and follow-on equity offerings underwritten by Deutsche Bank....
July 28, 2009 The broker-dealers and life insurer aim to give clients a product that combines the advantages of a unified managed account with lifetime income protection.
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July 27, 2009 Citigroup adds three outside directors and appoints new chair of audit and risk committee.
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July 22, 2009 The 18,444 Morgan Stanley Smith Barney advisors had average annualized revenue of $671,000 and average client assets of $77 million in the quarter ended June 30, 2009. ...
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