Another day, another study showing that wirehouses are losing advisors and assets. According to new Cerulli report called “Advisor Migration: The Changing Landscape of Retail Distribution,” more than $800...
The SEC sent a warning to b/d executives Monday about the recruiting bonuses they pay to advisors, saying they could encourage advisors to do things that are not in their clients’ best interests.
The SEC sent a warning to b/d executives Monday about the recruiting bonuses they pay to advisors, saying they could create conflicts of interest. In an open letter to b/d CEOs, SEC Chairman Mary Schapiro “...
Turnover at the wirehouses has accelerated in the current market. In the first quarter, UBS and Wells Fargo Advisors were net winners of advisors, but every firm lost heads in the second quarter. (Granted, Wachovia...
A ten-year veteran of a large wirehouse firm says he's solicited regularly about switching firms. I pay attention to the deals. I'm curious to know what they're offering. I'm not really ready to move, but they keep...
Benjamin F. (Tad) Edwards hired Michael Petiford and Tim Reese from Wells Fargo to join his newly formed St. Louis-based broker/dealer. Edwards is the son of Benjamin F. Edwards III, the former chairman and chief...
Should Wall Street's wirehouse foursome be getting ready for another round of broker-driven class action lawsuits? According to Mark Thierman, yes, they should. Thierman, who led and settled a series of broker...
Sure, stocks have been on a tear since March. But the S&P 500 is still off by 7 percent over the last 12 months. Not surprisingly, assets held at wealth management houses have shrunk by a $3 trillion (to $10.8...
The latest news out of UBS involves former Merrill executive, Bob McCann, who’s dealing with a non-compete clause that’s keeping him from supposedly joining the firm.
