Wealth Management industry news covering the financial markets, trends and wealth professionals.
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James Gorman and Sallie Krawcheck said it would be so. With markets stabilizing and bank-brokerage merger integrations progressing, fewer brokers are fleeing the big Wall Street wirehouse firms for the RIAs and independent b/ds in 2010. But those...
Schwab Advisor Services' results suggest the great diaspora of breakaway brokers to Independence Land—either independent b/ds or RIAs—may have climaxed.
Two former Merrill brokers won $1.167 million in an arbitration award from Merrill Lynch for deferred compensation benefits that were supposed to vest if they left for “Good Reason” following a change of ownership at the firm. It's...
Once the Securities and Exchange Commission officially defines the term “family office” (and it took the first step in that direction yesterday, 12 Oct.), the floodgates may open for registered investment advisors to capture a chunk of...
In a typical year, roughly 12 percent to 13 percent of financial advisers change firms, according to Bing Waldert, a director at Cerulli Associates. But clearly, we’ve not seen a typical year in some time. The industry upheaval of 2008 and 2009 c...
Long the laggard in recruiting bonuses among its wirehouse rivals, Wells hiked its offering for top producers to 295 percent from 195 percent two weeks ago.
A sluggish economy dampens prices; why should professional examinations be an exception? The Certified Financial Planner Board of Standards recently lopped $100 off the $595 price of its notoriously rigorous certification exam for applicants who...
Working in teams improves efficiency for financial advisors. There are all kinds of team models, but a few basic rules can help set you on the right path.