HighTower Advisors has recruited an advisor team with about $300 million in assets from Securities America. J.M. Egan Wealth Advisors, led by Managing Partner John Egan, will now be known as The Egan Group at HighTower...
Just a year after closing on its acquisition of Sterne Agee, Stifel Financial announced plans Monday to sell the firm’s independent brokerage, clearing and RIA businesses to INTL FCStone Inc., a commodities and Forex broker...
While registered investment advisors expect increased competition for assets and challenges from the Department of Labor’s fiduciary rule, these obstacles aren’t enough to deter advisors’ optimism...
Cetera Financial Group said Thursday that its parent company, which just recently emerged from bankruptcy and reorganization and was renamed Aretec (Cetera spelled backwards), has selected Edmond Walters, former CEO of financial planning software...
Morgan Stanley's wealth management team wants clients to do more business with the firm, whether that means moving more of their investment assets there, taking out loans or performing basic cash management, senior executives said on Monday...
(Bloomberg) -- UBS Group AG, which said last month it’s looking for ways to cut costs, is eliminating some management positions in its U.S. wealth unit and reducing the number of financial advisers recruited from competitors...
LPL Financial has increased the capacity of its service center, the call center handling queries, complaints and comments from the firm's brokers, by 25 percent since August; the center is answering calls faster and is better able to get...
(Bloomberg) -- Sam Chapin and Dan Cummings, senior Merrill Lynch executives who helped meld the firm to Bank of America Corp. after the financial crisis, plan to step down as vice chairmen, ending more than 50 years of combined work at the...
Last year, the registered investment advisory space saw a spike in “mega deals,” those over $5 billion, with 13 of these firms selling to a third party, according to DeVoe & Company.
But this year, the firms selling in record numbers are large...
