A ten-year veteran of a large wirehouse firm says he's solicited regularly about switching firms. I pay attention to the deals. I'm curious to know what they're offering. I'm not really ready to move, but they keep trying, he says. Of course they...
The independent channel has long been advertised as The Next Big Thing. With its 95,000 or so advisors, the independents are the largest subset in the industry. But the great diaspora of wirehouse advisors going indie never materialized. It is...
Recently introduced legislation threatens to change the IRS rules on independent contractor worker classification and the Financial Service Group (FSI) is worried.
The latest news out of UBS involves former Merrill executive, Bob McCann, who’s dealing with a non-compete clause that’s keeping him from supposedly joining the firm.
Advisors might think twice about taking a Friday off and leaving your book in the hands of your “capable” sales assistant (or client associate—whatever firms call trusted SAs these days).
Bloomberg is reporting that Bob McCann, the former head of Merrill Lynch’s brokerage unit, is nearing a deal with his old employer that will allow him to take a job running UBS’s wealth management unit.
Morgan Stanley’s recent move to increase trading risk and add traders a la Goldman Sachs is a just another bad strategy in a long line of lousy executions by management, says Dick Bove, vocal analyst of Rochdale Securities in a note released...
The New York Post reports today that Bernie Madoff is dying of cancer. According to an inmate at the North Carolina prison, Madoff is telling everyone that he doesn’t have long to live.
