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Fees have long been heralded as the preferred way to dispense financial advice ever since the Tully Commission recommended it as a “best practice” in a report to the SEC in 1995. As the chart below shows, charging fees on assets continues to grow...
Broker/dealer firms eat away at their advisors' take-home pay with little fees on nearly every product and service. Sometimes the slices they take aren't very transparent.
After 28 years with Edward Jones, and 14 years as the firm’s chief market strategist, Alan Skrainka was let go from the firm on Friday. According to a Jones spokesperson, Skrainka was ousted due to “his use of written materials without...
Paying retention bonuses to top brokers to keep them from jumping ship is a pricey strategy that only works some of the time, a report released today by Aite Group shows. Aite surveyed 400 advisors in wirehouses and independent b/ds in the fourth...
Story updated at 4:21 p.m.The future of Sallie Krawcheck, head of Merrill Lynch’s thundering herd of retail financial advisors, is suddenly the subject of much speculation.
The Senate voted 60-40 Thursday to end weeks of debate on Christopher Dodd’s financial regulatory reform legislation. Hotly debated proposals to extend the fiduciary standard to brokers did not make it into the final version of the legislation.
Though it recently wrapped up a national advertising campaign for Merrill Lynch, Bank of America continues to ramp up branding of the division, with an extension of the Merrill New York Yankees sponsorship as well as recent visits to Merrill...
