In the world of professional services, where you are dealing with marketing, selling, and servicing intangible financial solutions, it isn’t all that helpful to think in terms of tangible products, be they luxury goods or basic consumer...
Because of a steep drop in Morgan Stanley's institutional securities business in the third quarter, Global Wealth Management carried the day: it was the firm’s most profitable division for the quarter, earning $281 million. That's up a hair...
James Gorman and Sallie Krawcheck said it would be so. With markets stabilizing and bank-brokerage merger integrations progressing, fewer brokers are fleeing the big Wall Street wirehouse firms for the RIAs and independent b/ds in 2010. But those...
Once the Securities and Exchange Commission officially defines the term “family office” (and it took the first step in that direction yesterday, 12 Oct.), the floodgates may open for registered investment advisors to capture a chunk of...
In a typical year, roughly 12 percent to 13 percent of financial advisers change firms, according to Bing Waldert, a director at Cerulli Associates. But clearly, we’ve not seen a typical year in some time. The industry upheaval of 2008 and 2009 c...
