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.
Bank of America’s Global Wealth & Investment Management unit, which includes Merrill Lynch, posted increased revenue and advisor productivity in the fourth quarter, signs investors may be shifting assets into longer-term, higher-margin...
Morgan Stanley’s wealth management division reported $3.4 billion in revenue in the fourth quarter, up 7 percent versus the year ago quarter, as higher commission revenues, asset management fees and net interest income offset lower trading...
Wells Fargo’s Wealth, Brokerage and Retirement business reported growth in assets, revenue and profits in the fourth quarter. Meanwhile, on a conference call with analysts, Chairman and Chief Executive John Stumpf voiced guarded interest in...
In a Dodd-Frank report to Congress Wednesday night, the SEC supported imposing user fees on investment advisers as the best method for improving oversight. But it recommended legislators consider three options, including giving responsibility to...
After a summer drought in market activity, investors began trading in larger numbers last quarter, according to earnings reports released today by Charles Schwab Corp. and TD Ameritrade Holding Corp. Both firms also recorded improved asset inflows...
Double-digit market returns in 2010 helped boost Americans’ charitable spirit, with top donor advised funds reporting new records in charitable contributions, industry executives report.
Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm’s asset management business, will replace Charles Johnston as head of wealth management. Johnston will stay on as Vice Chairman of Morgan Stanley Smith Barney...
United Capital Financial Partners (UCFP) today said it has closed on three new RIA acquisitions with combined assets under management of about $2.2 billion: Zirkin-Cutler Investments, MarketSpace Financial and Sovereign Wealth Management.
“Everybody is feeling better,” said Scott Welch, senior managing director for Fortigent, the Rockville, Md.-based outsourced wealth management platform provider whose 90 client firms have about $45 billion in assets under management. &...
