Wells Fargo’s Wealth, Brokerage and Retirement business reported growth in assets, revenue and profits in the fourth quarter. Meanwhile, on a conference call with analysts, Chairman and Chief Executive John Stumpf voiced guarded interest in...
Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm’s asset management business, will replace Charles Johnston as head of wealth management. Johnston will stay on as Vice Chairman of Morgan Stanley Smith Barney...
United Capital Financial Partners (UCFP) today said it has closed on three new RIA acquisitions with combined assets under management of about $2.2 billion: Zirkin-Cutler Investments, MarketSpace Financial and Sovereign Wealth Management.
“Everybody is feeling better,” said Scott Welch, senior managing director for Fortigent, the Rockville, Md.-based outsourced wealth management platform provider whose 90 client firms have about $45 billion in assets under management. &...
Updated 1:41 p.m. Morgan Stanley announced Monday plans to spin off its quantitative proprietary trading division, Process Drive Trading (PDT) by 2012.
As retail brokerage firms continue to make acquisitions and consolidate offices in 2011, still more branch managers may find themselves getting pink slipped, experts say. But other shifts in the wealth management business could spell opportunity...
