News

Because of a steep drop in Morgan Stanley's institutional securities business in the third quarter, Global Wealth Management carried the day: it was the firm’s most profitable division for the quarter, earning $281 million. That's up a hair...

The already crowded field of wealth management firms who want to go national is getting more crowded, still.

IBD supplier turns attention from mass-affluent to HNW investors.

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.

Tread carefully when you help clients decide what to do with their life insurance proceeds after a loved one dies. The use of a “retained asset account,” one of the most popular methods of taking the money, has come under fire by a...

Dear Registered Rep. reader...

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...