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Constellation Wealth Advisors, an independent multi-family investment office, announced that Christopher M. Smith has joined the firm as principal. Prior to joining Constellation, Smith was the Director of the Corporate Client Group at RBC Capital...
Edward Jones, now about 90 years old, “has prospered by dispensing buy-and-hold wisdom to small clients in small places.” That’s how we put it on our April 2006 cover story on the firm. But now Edward Jones is doing something...
Morgan Stanley on Wednesday reported higher-than-expected revenues and profits in the first quarter, lifted by its acquisition last spring of Smith Barney and by higher fixed income.
Merrill Lynch plans to grow primarily by investing in current advisors and hiring rookies, said Merrill Lynch president of Global Wealth and Investment Management Sallie Krawcheck on Tuesday. Her words come as recruiting bonuses are at an all time...
Profits were down last quarter at Merrill Lynch but the brokerage’s performance still helped to lift the fortunes of its new parent, Bank of America Corp. Advisor defections were flat from the end of 2009, but average production declined.
Mergers and acquisitions seem to be crawling back to the top of RIA principals’ to-do lists this year, as the first quarter’s numbers show record activity. What is your financial advisory practice worth?
Banking on a wave of mergers in 2010, the major custodian firms are in a race to offer the best M&A tools to their RIAs so that the assets of selling firms don’t walk out the door to a rival custodian. M&A in the RIA world had dried...
