In this section we present key findings and insights from our survey questions on practice management and operations, including services offered, the most time-consuming activities, professional designations, custody relationships and documentation trends.
Registered Rep.: What is driving the record pace of RIA mergers and acquisitions seen in the past few years? David Devoe: The average advisor is 55 years old. About 30 percent are over 60 years old. So, you have folks who started in this business...
Today the Board of Directors of the Certified Financial Planning Board of Standards Inc. (CFP Board), which controls the CFP designation, approved a second round of revisions to its code of ethics that were proposed in March, essentially...
Wachovia just launched itself into the big leagues. In a blockbuster deal this morning, Wachovia Corp. announced that it will acquire A.G. Edwards for roughly $6.8 billion in cash and stock to create a firm with $1.1 trillion in client assets...
Smith Barney’s top executive last week told the firm's army of more than 13,000 financial advisors that she will tweak the brokerage giant’s new compensation plan in an attempt to address their repeated complaints over its complexity...
In his new role as New York governor, Eliot Spitzer is joining forces with those he used to terrorize—Wall Street chief executives—to modernize financial services regulation in the state, the Financial Times reports. Spitzer is forming...
Merrill Lynch today announced a firm-wide reorganization that introduces a new reporting structure while silencing rumors that retail brokerage head Bob McCann may have been on his way out.
Deborah McWhinney, president of Schwab Institutional, retired this morning at the age of 52, something communicated to the firm’s advisors and employees via a trio of e-mails--first from Schwab chairman and CEO Charles “Chuck”...
