Bank of America’s Global Wealth and Investment Management (GWIM) division, which includes Merrill Lynch, reported its highest earnings since Bank of America’s takeover of Merrill in late 2008, as asset management and brokerage fees...
Advisors and investors are turning to mutual funds with more flexible mandates to cushion their portfolios against the unknowns. During the first quarter, $12.2 billion went into global flexible funds, compared to $8.9 billion in the fourth...
You’re not likely to find many branch managers like Jim Pekelder these days. He’s a complex director for Wells Fargo Advisors in Omaha, overseeing 31 reps in his own branch, and another 30 spread among a half-dozen smaller offices. Pekelder’s...
Independent broker-dealer Multi-Financial is undergoing a major growth initiative, ramping up its recruiting, wealth management platform capabilities and practice management services, said President and CEO Brett Harrison. Recruiting is already up...
Wealth management firms are expected to invest heavily in customer relationship management technology (CRM) over the next three years, according to a new report from Aite Group. The new technology would more efficiently store and manage vast...
The Roth IRA has been popular for more than a decade, but its workplace counterpart—the Roth(k)—has been slower to take off. Many employers held back until Congress clarified their future with the Pension Protection Act of 2006 (PPA) by removing a...
