The recruiting frenzy among regional firms for breakaway wirehouse brokers is still going strong. Robert W. Baird, Commonwealth Financial and RBC Wealth Management announced recruiting coups.
New York Attorney General Andrew Cuomo released a report today on the compensation practices of the banking industry. The title says it all: “No Rhyme or Reason: The ‘Heads I Win, Tails You Lose’ Bank Bonus Culture.”
Do any of your clients have a connection to the Mafia? Brian Hamburger, a lawyer specializing in securities law, says he represents a financial advisor who was threatened by someone claiming to have family in the Mob.
With the past year’s decline in the markets, assets are shrinking in the wealth management business. But some quarters of the industry are feeling it more than others—namely the wirehouses—says a new report from the Boston-based...
The SEC’s Investor Advisory Committee, which was formed to give investors a greater voice in the SEC, has “agreed upon an ambitious and wide-ranging agenda.” Or so says a press release issued by the SEC today. For more, please go...
According to a Swiss wire report, the IRS has upped the ante in its fight to gather thousands of names of alleged tax-dodging American UBS clients: By sending IRS agents to tail the firm’s bankers and financial advisors as they visit clients.
Raymond James Financial posted improved earnings in its fiscal third quarter compared to the second quarter, but results were ugly when compared to last year’s third quarter, which represented a record across all business segments, including...
FAs, you better be at the top of your game. An investor’s relationship with his financial advisor now drives his level of satisfaction with his firm and his portfolio more than anything else—including convenience, investment...
The SEC yesterday charged Nashville-based broker/dealer Morgan Keegan for misleading thousands of investors about the risks of auction rate securities (ARS). Further, the SEC alleges that the firm pushed illiquid auction rate securities on...
