Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Merrill Lynch is dividing its sales force of 16,000 retail brokers into three categories: Financial Advisors (formerly called Financial Consultants) for everyday investors with less than $1 million, Wealth Management Advisors serving clients with ...
ON THE FEE SIDE Scott Root Senior Vice President,PaineWebber,San Mateo, Caif. Root started doing managed money about 10 years ago, and now 60% of his business comes from recurring fees. R. Stephen Trudeau Vice President,Senior Financial Consultant...
A study by the SIA on mutual fund portability indicates that more than 90% of mutual funds distributed by top firms are “as portable or more portable than three years ago.” The study’s findings are not surprising to several...
Despite the pervasiveness of online trading, most Web-based financial services have yet to win acceptance among consumers, according to a study by Mercer Management Consulting. The study, which assesses the impact of the Internet throughout the...
Even in this tumultuous market, opportunities are everywhere for brokers who recognize them, according to speakers at the SIA's second annual Financial Adviser conference, being held today and Saturday at the Eden Roc Resort in Miami Beach, Fla...
Merrill Lynch is looking for a few good brokers within its ranks to focus entirely on the firm's ultra-affluent investors--households with $10 million or more to invest. Merrill executives want to expand the firm’s Wealth Management Services...
Salomon Smith Barney on Monday launched two new services for clients with online access--its own account aggregation service (separate from parent Citigroup's “myciti.com") and wireless access. The firm is also preparing to improve its Web...
Charles Schwab & Co. has teamed with the consulting firm of Callan Associates to provide investment consulting for Schwab advisers beginning sometime in the second quarter. The new service, called Managed Account Select, will provide the...
Referrals can be the lifeblood of brokers' businesses.Steve Saenz, a business coach at Paragon Resources in Atlanta, has a marketing method he says will significantly increase the quantity and quality of referrals. It's called the "Top 100...
Fees Versus Commissions Four reps debate why they prefer one style to the other, what’s best for clients and where the industry is heading. By Dan Jamieson and Rick Weinberg RR: The entire industry seems fixated on moving to fees. Are we...
