May 01, 2009

Every so often, about once every three months or so, David Hansen makes a trip usually early in the morning to Costco. He fills one of those industrial shopping cart dollies with granola bars and juice boxes about 25 cases of each

Borrowing To Pay The Estate Tax

May 01, 2009

What to do when there are not enough bucks to take care of the financial damage

Wirehouse Advisors Switch Firms in March

Apr 29, 2009

Advisors were on the move in March. The number of reps switching broker/dealers during the month was up 34 percent versus the number who switched in February.

Raymond James Takes a 2Q Hit—But Gains Retail Advisors

Apr 24, 2009

Raymond James Financial posted dismal earnings for the second quarter, but its private client group appears to have been a bright spot.

Morgan Stanley Retail Wins More Client Assets

Apr 22, 2009

Morgan Stanley reported a net loss of $177 million in its first quarter earnings, released today. But unlike many of its peers, the firm didn’t appear to use any accounting tricks to massage the numbers.

Benjamin Edwards Passes Away at 77

Apr 20, 2009

Benjamin Edwards III, former chairman, CEO, and president A.G. Edwards , died Monday at his home in Naples, Fla., after a battle with cancer.

Smith Barney Losing Advisors, Client Assets

Apr 17, 2009

Citigroup surprised Wall Street with its first profit in more than a year when it announced first quarter earnings Friday, but the quarterly report also contained some bad news. Among other things, the firm’s global wealth management...

UBS to Cut Lower Producing Advisors

Apr 16, 2009

According to a source familiar with the details, the 8,700 jobs UBS plans to cut by the end of 2010—for forecasted cost savings of roughly $3.5 billion—will include 2,000 in the Wealth Management division, many of them financial advisors.

Citi Smith Barney Head, Michael Corbat, Now Head of “Bad Bank”

Apr 06, 2009

Just over six months after he was named the new leader of Citi Global Wealth Management, Michael Corbat is bouncing to another post. Today, the firm named Corbat CEO of Citi Holdings.

No Buyers--Still--For AIG-owned B/Ds

Apr 01, 2009

AIG announced its plan to sell its independent broker/dealers back around October 2008. Six months later, nothing has changed—except that reps we spoke to are even more frustrated. Some say they are ready to bolt...