The Investment Management Consultants Association announced Wednesday that its popular CIMA certification is now accredited by the American National Standards Institute (ANSI), making it the first of the major wealth...
LPL Financial reported net income of $49 million, or 43 cents a share for the first quarter of 2011, a 92 percent jump from the first quarter of 2010. Revenues grew 17.5 percent from the year ago quarter to $873.9...
In a disappointing quarter for Morgan Stanley, the firm’s global wealth management group was, once again, a bright spot, with revenue, earnings and client assets up, though advisor headcount and pre-tax profit...
Wells Fargo’s wealth management division reported stronger earnings, revenues and FA headcount in the first quarter, while cross-selling hit a record and client asset inflows were at their highest since Wells...
Bank of America’s Global Wealth and Investment Management (GWIM) division, which includes Merrill Lynch, reported its highest earnings since Bank of America’s takeover of Merrill in late 2008, as asset...
Migration to the independent financial advisor model—independent b/ds and RIAs—is likely to continue unabated in 2011, a Fidelity Investments survey about advisor and broker sentiment released today suggests.
In his new book, David Skeel argues that Dodd-Frank financial reform legislation fails to limit financial risk or prevent another too-big-to-fail crisis. Worse, it institutionalizes bailouts and leaves American...
In testimony before Congress Thursday, SEC Chairman Mary Schapiro made a case for an increase in the agency’s funding to $1.407 billion for 2012—describing the progress the SEC has made on internal reforms...
Morgan Stanley (MS) will lay off a total of 200 to 300 trainees and lower-producing financial advisers during the first quarter, and most of those cuts have already taken place, a source knowledgeable about the...
A couple of law students from Oxford, Miss., backed by vocal investor advocate Mercer Bullard, have ambitious plans to create an SRO (self-regulatory organization) for investment advisers. Their group would rival...
