HighTower Advisors, the fast-growing and well-funded Chicago-based advisory firm, has raised its profile again, hiring top recruiting executives from Charles Schwab and LPL Financial as it plans to open six new offices by April 2011.
Despite rampant speculation to the contrary, the SEC is not planning to write any new rules on broker recruiting bonuses, SEC spokesman John Nester told Registered Rep. magazine on Friday. At least one firm was already using the threat that...
Late this afternoon, two advisors from UBS’ downtown Houston branch, David Harris and Ann Deaton—principals of Harris Financial Group—resigned from the firm to join their former UBS branch office manager, Patrick Mendenhall, at...
In the aftermath of the financial crisis, asset managers have been busy rolling out new alternative products specifically designed for non-accredited investors. According to Morningstar data, there were 29 distinct alternative strategy mutual...
Wealth management firms can expect more competition from First Republic Bank following its imminent initial public offering. The firm, known primarily for its high-end lending business, plans to expand its wealth management division, it said in...
Merrill Edge is a serious challenge to the online brokerage powerhouses such as Charles Schwab and Fidelity Investments, as well as to independent and regional broker dealers, according to a new report from Aite Group. The report also suggests...
Five months after Bank of America sold it off to private equity firms, First Republic Bank announced today that it plans to go public. The firm plans to raise $285.1 million, and will sell 11 million shares of common stock at an estimated price...
