If having more autonomy, greater alignment with your clients’ interests and potentially keeping a bigger share of the profit appeals to you, becoming an independent advisor might be up your alley
Raymond James is raising minimums for new RIAs who want to custody assets on its RJFS-IAD platform from $30 million to $50 million. The firm said the move will both help it cut the cost of serving RIAs and also act as a draw for bigger RIAs, who...
The National Association of Independent Broker/Dealers (NAIBD) is working to prevent proposed legislation in Congress from increasing the auditing costs of small independent broker/dealers. These could rise to $100,000, the group says, and might...
If they haven’t already, financial advisors and wealth managers should take extra steps to protect themselves from client litigation. Though the violent spike in customer arbitration filings in the first quarter of this year has subsided...
In an interview with Registered Rep., McCann said the wealth management division would not be put on the block, despite rumors that UBS is dressing it up for sale to boost its capital position. He also vowed to cut costs for the unit, and raise...
If anyone was hoping to catch a break on the regulatory front now that the market environment has eased, they’re in for a surprise. Speaking at this morning in New York at SIFMA’s annual meeting, Securities and Exchange Commission...
UBS announced Tuesday that it has hired Bob McCann as the CEO of its UBS Wealth Management Americas unit. Speculation about his appointment to the position had been mounting. As recently as two weeks ago, McCann declined to comment on specific job...
In an effort to cut costs, some brokerage firms such as UBS and Morgan Stanley Smith Barney are restructuring their branch office organization and changing the rules about which managers must generate production. Consultants and recruiters are...
Edward Jones today announced the sale of its U.K. business operations to Towry Law, an independent wealth management firm based in the U.K., for an undisclosed sum. The operation was simply too expensive to operate, and only accounted for about 1...