Merrill Lynch launched a new marketing campaign Monday called help2, which includes the iconic Merrill bull logo. It will cost the firm $20 million in the fourth quarter, the most Merrill has ever spent on marketing, according to Sallie Krawcheck...
The Financial Industry Regulatory Authority (FINRA) issued an 80 page report on Friday that includes a review of its failings in the Madoff and Stanford scandals. A release about the report reads as follows:
Robert J. McCann, the former Merrill Lynch & Co. brokerage chief is free to take the reins at a major Merrill rival—even if it be the U.S. wealth management unit of UBS that has been rumored for months—after he settled a lawsuit today...
The Securities Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) announced Wednesday that they expect to release a report within two weeks that explains the regulatory responsibilities of each agency and recommends...
The Financial Times suggests the way financial products and services are sold need to be completely overhauled. “There is an unhealthy focus on products that sell to advisors, rather than ones clients need.” Editorial on
The SEC charged former GunnAllen financial advisor Frank Bluestein with fraud, alleging that he lured elderly investors into a $250 million Ponzi scheme conducted through E-M Management Co. According to the complaint, over a five-year period...
It may not be as sweet as the retention deal Morgan Stanley Smith Barney reps got earlier this year, but some Wells Fargo Advisors FAs are earning their bonus dollars through a client service program.
Former Merrill brokerage chief Bob McCann discussed everything from the future of wealth management (“very positive”) to client portfolios—underweight equities, hold some cash—while attending the Global Irish Economic Forum...