Are the new Dodd-Frank regulations good for the insurance business?
Are the new Dodd-Frank regulations good for the insurance business?
Jul 25, 2011
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RIA assets seen as key to Schwab, TD Ameritrade
RIA assets seen as key to Schwab, TD Ameritrade
Jul 22, 2011
Registered investment advisers, listen up. Your custodian needs you—more than ever. Just look at this week’s earnings reports from Charles Schwab Corp. and TD Ameritrade Holding Corp. Asset growth, fueled in part by the RIA custody businesses of...
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up
Jul 21, 2011
Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters—possibly in the guise of cuts to staff or financial advisors. On a second-quarter earnings conference call Thursday...
Raymond James Rep Count, Assets Up Amid Tough Recruiting Environment
Raymond James Rep Count, Assets Up Amid Tough Recruiting Environment
Jul 21, 2011
Raymond James Financial’s (NYSE: RJF) private client group added 20 advisors in the U.S. during the fiscal third quarter despite a tough recruiting environment for regional firms. But second-quarter earnings were down.
Chase Wealth Management Unit Plans Explosive Growth
Chase Wealth Management Unit Plans Explosive Growth
Jul 20, 2011
Chase Private Client, an under-the-radar wealth management unit of the giant bank, plans to open 160 offices to serve 600 branches around the country in two years, up from only 16 dedicated offices currently, JPMorgan Chase &Co. announced...
New Rankings: New York, Houston Shine As Wealth Management Hot Spots
New Rankings: New York, Houston Shine As Wealth Management Hot Spots
Jul 19, 2011
After studying Capgemini’s recently-released 2011 U.S. Metro Wealth Index, wealth management firms who aren’t doing business in the New York or Houston markets may be asking themselves why not.
TD Ameritrade Reports Lower Profit, but, at RIA Unit, Breakaway Recruitment Is Up
Jul 19, 2011
Profits and revenues fell at TD Ameritrade Holding Corp. last quarter as trading waned at the discount brokerage, but Chief Executive Fred Tomczyk said TDA Institutional has brought on 260 breakaway brokers over the past three quarters, a 20...
Wells Fargo’s Wealth Management Earnings, Headcount Dip but Cross Selling Improves
Jul 19, 2011
Wells Fargo’s (NYSE: WFC) wealth, brokerage and retirement business posted slightly lower second-quarter earnings. Advisor headcount was also down compared to the first quarter, but, on a positive note, advisor cross-selling continued to...
Bank of America Gains 500 Financial Advisors, Client Balances Slip
Jul 19, 2011
BofA's Global Wealth and Investment Management, which includes Merrill Lynch, reported $506 million in net income for the quarter. Merrill Lynch contributed the bulk of revenues, with $3.5 billion, up from $3.1 billion a year ago.
Schwab Gained Advisor Assets in Q2
Jul 18, 2011
Client assets at Advisor Services hit $697.8 billion, up 17 percent YOY, while net new assets reached $10.6 billion, up 4 percent.
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