Schwab Institutional had an awesome year in 2008, stealing clients and assets from wirehouse advisors and expanding its lead in the RIA custodian business.
Merrill Lynch confirmed that 6,200 advisors, or about 37 percent of all Merrill financial advisors, signed a retention agreement from new parent company Bank of America by 4 p.m. on Friday. But Merrill says that only about half of the firm's...
The U.S. Government’s investigation of cross-border business by UBS and alleged tax evasion by some of the firm’s US clients has resulted in an indictment of Raoul Weil, Chairman and CEO of UBS Global Wealth Management and Business...
Competition for recruits is so hot these days that nearly half of the financial advisors from the wirehouse and regional firms have been offered checks to switch firms, according to a new survey from Fidelity Investments and National Financial.
Registered Rep. readers, most of whom are Republicans or Independents, are not too enthusiastic about the country’s new president Barack Obama—even though securities and investment firms ponied up $12.65 million in funds for Obama&...
But not the bad kind. Now that the wirehouse model is kaput, working for a bank has new appeal. The bank brokerage space has come a long way from its free toaster days.
Bank of America intends to sign the so-called “broker protocol,” an agreement signed by most of the brokerage firms and RIAs stipulating what client information is acceptable for a departing financial advisor to take without getting...
Nashville: "I'm getting killed, my fee-based revenue is way down, my deferred stock that I've been planning on retiring on is in the toilet. And, with the non-stop incoming calls, I don't have the time or energy to meet with my clients," moaned Sam.