Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Morgan Stanley has made wealth management a much bigger part of its business since the 2007-2009 financial crisis, when it agreed to acquire Smith Barney and create one of the largest U.S. brokerages.
Despite efforts by Wall Street firms to regain trust since the 2008 financial crisis, fewer than a third of Americans view the industry positively -- unchanged from 2009.
Madoff's Ponzi scheme had a huge impact on the advisory industry, writing down a retirement plan increases the chances of follow-through, and millennials care about their financial future.