Securities America Faces Settlement Hearing Friday; Legal Liabilities Up in the Air
Mar 17, 2011
Securities America will face a federal court judge Friday to decide whether the independent broker/dealer gets preliminary approval for a $21 million settlement agreement related to allegedly fraudulent private placements sold by the company. Firm...
Ameriprise Advisor Production Still Rising—Investors Disappointed by Firm-Wide Results
Ameriprise Advisor Production Still Rising—Investors Disappointed by Firm-Wide Results
Feb 03, 2011
It was a good quarter for Ameriprise’s Advice & Wealth Management segment. It posted total revenue of $1.03 billion, a record, up 15 percent year over year. Pre-tax operating earnings of $90 million were up 157 percent from a year earlier.
Merrill Strengthens Golden Handcuffs For New Hires
Merrill Strengthens Golden Handcuffs For New Hires
Dec 01, 2010
Merrill Lynch released a new broker recruiting deal last month with two major changes. First, Merrill made it much harder for recruits to leave the firm: to receive all of their recruiting bonus money, new hires must now stick around for 14 years...
Merrill Strengthens Golden Handcuffs For New Hires, Recruits Small Fry
Merrill Strengthens Golden Handcuffs For New Hires, Recruits Small Fry
Nov 08, 2010
Merrill Lynch released a new broker recruiting deal a few weeks ago—with two major changes. First, a new hire must now stick around for 14 years instead of nine to get his entire recruiting bonus, and all of the back-end money is now...
Ameriprise Profits Pop, Advisors More Productive
Ameriprise Profits Pop, Advisors More Productive
Oct 28, 2010
Ameriprise’s Advice and Wealth Management business is doing more with less: fewer advisors, higher revenue and profits.
Merrill Lynch Revenues Slide as Investors Stay on the Sidelines
Oct 19, 2010
Merrill Lynch’s parent, Bank of America, today confirmed what advisors at the brokerage had known about the third quarter—investors kept their money at home, or at least, out of the market.
Fidelity: More Investors Raiding Their 401(k)s
Aug 23, 2010
Double-dipping doesn’t just refer to the threat of a new recession this year. Fidelity Investments says the number of loans and hardship withdrawals from 401(k)s is on the rise.
Top 100 Indie B/d Advisors 2010: Savoring Independence
Top 100 Indie B/d Advisors 2010: Savoring Independence
Aug 01, 2010
A decade ago, the independent broker/dealer firms were filled with part-time advisors, certified public accountants and insurance agents. The channel has moved on, but in many ways, its reputation hasn't. Some still see it as a place for those...
A Mixed Second Quarter for Merrill, Schwab
Jul 16, 2010
Second-quarter earnings results posted today by Merrill Lynch and Charles Schwab Corp. offered a mixed picture to financial advisors hoping for a stronger recovery.
Ultra-wealthy Prefer RIAs
Ultra-wealthy Prefer RIAs
Jul 01, 2010
Not only are the independent RIAs stealing brokers and assets from the big Wall Street wirehouse firms, they also seem to have greater favor with the super-rich.
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