The SEC sent a warning to b/d executives Monday about the recruiting bonuses they pay to advisors, saying they could create conflicts of interest. In an open letter to b/d CEOs, SEC Chairman Mary Schapiro “reminded” them of their...
Sure, stocks have been on a tear since March. But the S&P 500 is still off by 7 percent over the last 12 months. Not surprisingly, assets held at wealth management houses have shrunk by a $3 trillion (to $10.8 trillion) in 2008, according to data...
Wirehouse reps are increasingly looking beyond Wall Street firms these days. The proportion of wirehouse advisors switching to another has fallen steadily over the past year, while the number going to independent b/ds and RIAs, as well as to...
The economic crisis has damaged revenues, business plans and most importantly, the trust of wealth management clients. According to an extensive survey conducted by PriceWaterhouseCoopers and released at the end of July, advisors who succeed in...
After the S&P 500 began sinking in 2000, some proponents of index funds criticized the most popular benchmark. The S&P 500 is too volatile, and, being cap weighted, is based on over-valued stocks, they said; so they set about finding better...
Turnover at the wirehouses has accelerated in the current market. In the first quarter, UBS and Wells Fargo Advisors were net winners of advisors, but every firm lost heads in the second quarter. (Granted, Wachovia/Wells Fargo just lost one.) UBS...
Going Independent: Finding the Model That Works For YouSo you’re thinking about going independent? One of the first things you need to figure out is which model to choose. The good news is today you have more options than ever. The bad news...
