Advisor Channels

Pressure to serve only the wealthiest, wirehouses are ceding the mass affluent to the independent, DIY brokerage platforms. Indeed, “direct” brokerages are beginning to offer more advice.

Blame it on fiscal cliff nervousness, volatile stock markets, or the uncertainties that accompany a tepid economic recovery, but the world of mergers and acquisitions in the registered investment advisor channel is having a lackluster 2012. Da...

   

Mid-sized RIAs who are behind on switching their registrations from federal to state jurisdictions have until Dec. 17 to get caught up.

LPL Financial reported lower profits for the third quarter on subdued advisor productivity, as the markets reopened Wednesday following Hurricane Sandy. Advisors impacted by the storm represent 10-15 percent of the firm’s GDC.

Raymond James Financial and Ameriprise Financial posted mixed results in the third quarter, amid increased spending, offset by market appreciation.

Sometimes, it’s the little things that can drive wirehouse reps to give up on the firm and take their business elsewhere.

Bank of America Merrill Lynch said the brokerage's advisor headcount was flat, while FA productivity declined during the third quarter.

Wells Fargo reported record net income of $4.9 billion in the third quarter, but results in its wealth, brokerage and retirement business were less exciting.