James Gorman has risen to the top at Morgan Stanley. The former head of Morgan Stanley’s retail brokerage division, now co-president of the firm, is slated to take over the CEO job on Jan 1, 2010, when John Mack retires, the firm announced...
It should not come as a surprise that financial advisors made a few changes in the way they manage client portfolios and their own businesses following the near collapse of the financial services industry and the teetering stock market last year...
Facing 22 years in jail for stealing $19 million from client retirement plans, Barry Stokes made creative use of his jail time while awaiting sentencing: He crafted voodoo dolls of his financial victims and stuck pins in them...
For the past six months or so, big wirehouse advisors (with $100 million in assets or more) have increasingly been asking us about joining RIA firms. This has been accompanied by a similar increase in the number of advisors seeking to have...
SEC Chairman Mary Schapiro announced the release today of the Office of the Inspector General’s report on the Bernard Madoff fraud. In short, the SEC screwed up in every way possible. Along with the announcement, Schapiro outlined how the...
The SEC sent a warning to b/d executives Monday about the recruiting bonuses they pay to advisors, saying they could encourage advisors to do things that are not in their clients’ best interests.