U.S. wealth management firms run the risk of losing business due to poor on-boarding—the transfer of an advisor’s clients and assets from his old firm to a new one, according to a new survey from Aite Group.
Another wave of financial advisor defections could be just around the corner, says an Aite Group report. Switching for big signing bonuses spiked during the recent financial crisis when Wall Street’s biggest...
The economic threat from unsustainable U.S. national debt—over $14 trillion and counting—is the No.1 concern today for many of the nation's wealthiest families and individuals, according to a new report...
UBS Wealth Management Americas (NYSE: UBS), rising from the ashes of its well-publicized disasters, had something to crow about this latest quarter (Q1 2011): The firm gathered $8.4 billion in net new client assets ...
Wealth management firms are expected to invest heavily in customer relationship management technology (CRM) over the next three years, according to a new report from Aite Group. The new technology would more...
Merrill Lynch, Wells Fargo Advisors and Edward Jones plan to ramp up trainee recruiting in 2011, Registered Rep. has learned. It comes at a time when a number of currents in the business are converging to create what...
In an email memo, Krawcheck, the head of Bank of America’s wealth management business, told Merrill’s thundering herd that the bank’s new “garden leave” employment policy agreement won&...
UBS Wealth Management Americas added client assets and (a handful of) advisors in the fourth quarter, cushioning the blow from steep legal costs that resulted in a pre-tax loss of $34.6 million. That is a slight...
U.S. and Canadian banks say developing mass affluent wealth management business is a top priority, but they’re not doing enough about it, says a recent report from Aite Group. Most banks are focusing their...
Just over 12 months ago, financial advisors at UBS were desperately searching for direction and leadership. Today, many UBS advisors seemed to have found that missing direction under CEO Bob McCann, the ex-Merrill...
