President Matt Wilson left Scottrade just months after the firm lost the head of its RIA business. Rodger Riney, founder and CEO of Scottrade Financial Services, Inc., is serving as interim brokerage president while looking for a new leader.
Lisa McAlister, ARCP's former chief accounting officer, has filed a $50 million lawsuit in New York State accusing former ACRP Chairman Nicholas Schorsch of ordering her to manipulate quarterly financial results....More
If you're reading this, odds are you aren't the problem, but there are plenty of folks out there posing to be financial advisors and using a wide variety of defunct, outdated or nonexistant credentials to get their hands on other people's money....More
Bank of America's Merrill Lynch said it hired five financial advisers during the first week of December away from UBS AG and Citigroup Inc's Personal Wealth Management where they collectively managed more than half a billion dollars in assets....More
The only way to reform what ails the Securities and Exchange Commission is to “burn it down and start again,” says Mark Cuban, billionaire entrepreneur, host of the television show "Shark Tank," and the owner of the Dallas Mavericks....More
Wells Fargo Advisors, Wells Fargo & Co's securities brokerage, hired a Chicago-area team of brokers away from rival UBS AG's wealth management unit, where they managed $463 million in client assets and generated $3.5 million in annual fees and commissions....More
When it comes to switching firms, advisors must plan their transition carefully. It requires thoughtful planning, a desire to run and grow your business, and unwavering dedication to do what is right for your clients....More
Research shows that while the average age of financial advisors has gone up, the percentage of advisors that don't have a succession plan in place has gone up as well. Why don't more advisors have a plan, and how can the industry better prepare for the future.
The U.S. corporate high yield market has grown from $250 billion to a $2.4 trillion industry. High yield has proven to be a solid asset class for investors, over time producing comparable returns to the S&P 500 with approximately half the volatility....More
Why do we make decisions that aren’t always in our own best interest? This group of articles from the Investments & Wealth Monitor takes a fascinating look at behavioral finance and behavioral portfolio management....More
With the wind at their backs, sprinters have broken speed records. Similarly, the tailwind of a bull market has boosted the fortunes of equity investors over the past five years. In both cases, the pace cannot be sustained over a long period of time. Look back no further than the past 10 years for confirmation of the market’s lack of endurance....More