UBS Reports Drop in Wealth Profit as Ermotti Lowers Costs

Oct 28, 2016

Expect more cost-cutting at UBS amid a drop in wealth management business.

Morgan Stanley Profit Jumps on Bond-Trading Comeback

Oct 19, 2016

Revenue from wealth management rose 7 percent to 3.9 billion.

Securities America Scoops Up Another Small IBD

Sep 26, 2016

Nebraska-based Securities America, the independent broker/dealer owned by Ladenburg Thalmann, has acquired Wall Street Financial Group, a small IBD based in Fairport, N.Y. The deal comes on the heels of the firm’s purchase of Foothill...

The Critical Error This Industry Is Making

Sep 15, 2016

Tim Welsh, president of Nexus Strategy, says the five mega trends impacting the advisory space are: the growth and evolution of the U.S. wealth market, the fiduciary standard, the evolution of digital advice, the aging of human advisors and the...

Cetera Selling The Legend Group to Lincoln Investment

Sep 14, 2016

More changes are on the way for the reorganizing Cetera Financial Group...

Schwab Reports Record-Setting Pace of RIA M&A Activity

Sep 14, 2016

Transactions in the registered investment advisor industry are on pace to beat the record set in 2015. According to a Schwab Advisor Services report that tracks merger and acquisition activity in the RIA space, 52 deals were made in the first ...

Cetera Financial Institution’s New President to Implement Robo

Aug 08, 2016

Cetera Financial Institutions, Cetera’s self-clearing broker/dealer focused solely on community banks and credit unions, has appointed LeAnn Rummel as its new president, taking over that responsibility from CEO Catherine Bonneau...

LPL Profit Slid 5 Percent in the Second Quarter

Jul 29, 2016

LPL Financial reported net income of $48 million, or 53 cents a share, for the second quarter, down 5 percent from a year ago, beating analysts’ expectations by 9 cents, according to Seeking Alpha...

UBS Beats Profit Estimates, CEO Pushes Ahead With Cost Cuts

Jul 29, 2016

(Bloomberg) -- UBS Group AG beat analysts’ second-quarter profit estimates and said it’s on track to cut costs by 2.1 billion Swiss francs ($2.2 billion) through 2017, with Chief Executive Officer Sergio Ermotti struggling with a...

A Second Look at Third-Party Exams

Jul 26, 2016

U.S. Securities and Exchange Commission Chair Mary Jo White has made numerous public comments that show the SEC is considering former Commissioner Daniel Gallagher’s recommendation to allow third-party firms to conduct regulatory...