Results for "compensation and staffing"

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Small-cap stocks gaining momentum while rates stay low

June 1, 2016

Small-cap stocks and funds that track them have started to outperform, and it might be connected to the Fed's downward revision on 2016 rate hikes. Prolonged periods of low interest rates tend to benefit smaller companies with cheap debt on...

The time is now for young financial advisers

May 29, 2016

After graduating from college, Eric Roberge worked at two investment banks and then four different advisory firms within five years, unable to find a company where he felt comfortable. After he decided to start his own firm, he was forced to...

Independent broker-dealer business model is an endangered species

May 29, 2016

The current business model of many independent broker-dealers, which depends on selling high-commission products, such as variable annuities and nontraded real estate investment trusts, is an endangered species. That's the blunt assessment of...

Wirehouses escape the worst of the DOL fiduciary rule

May 22, 2016

While many financial advisory firms have hunkered down, unwilling to talk about the impact of the disruptive Labor Department fiduciary rule, the wirehouses have sought to reassure their shareholders that the sky is not about to fall. Bank of...

The DOL fiduciary rule will forever change financial advice, and the industry has to adapt

May 9, 2016

Americans won hard-fought protections regarding the purity of their retirement advice last month. Now it's up to the nation's financial advisers to decide whether they'll meet the letter — and spirit — of the historic investor protection...

Still plenty of headaches for independent broker-dealers in the DOL fiduciary rule

April 24, 2016

Even though the Labor Department's recent changes to how financial advisers can counsel clients on retirement assets isn't the industry killer some had feared, independent broker-dealers will find plenty of unpleasant realities among the details...

51% of advisers see DOL fiduciary rule benefiting business

April 21, 2016

Just over half of the financial advisers polled a week after the Labor Department released its fiduciary rule think it will be good for business as it will level the playing field for retirement account advice. Asset manager Pioneer Investments...

Vanguard, Fidelity bank on robos, low-cost strategies to ride DOL fiduciary rule wave

April 7, 2016

In the shakeout over the Department of Labor's fiduciary rules for retirement accounts, mutual fund giant Vanguard is a clear winner — but archrival Fidelity won't be hurting, either. The rules, announced Wednesday, require that brokers act...

Lesson from Bank of America settlement with Merrill Lynch trainees: Long hours required to make it

March 29, 2016

Bank of America recently settled a lawsuit originally filed in March 2015 that alleged Merrill Lynch had violated federal overtime compensation laws. Each aggrieved ex-Merrill Lynch trainee would be entitled to about $1,000 after legal fees...

SEC approves Finra broker-compensation rule

March 24, 2016

The Securities and Exchange Commission has approved a Finra rule designed to encourage investors to ask their brokers about incentives they received to change firms. The compensation rule requires transferring brokers to send an “educational...

Industry needs to rid itself of misleading labels

February 7, 2016

Language matters. Most financial services practitioners call themselves financial planners or financial advisers. But in reality, many, if not most, are salespeople selling products to earn commissions. Why do they call themselves financial...

For some advisers, money not motivating factor to go independent

January 27, 2016

Wirehouse advisers looking for independence have choices of the type of firms they create or join – independent broker-dealers, existing registered investment advisers or their own RIA. But the option that eliminates the most business worries...

How to calculate a fair salary for a new hire

January 19, 2016

Knowing what to pay a newly hired adviser, paraplanner or client service rep requires advisory firms to use many sources to get the salary right for what a new hire should earn. Those resources include discussions with local firms, an analysis...

Merrill compensation plan makes it tough on small advisers

December 4, 2015

Wall Street wirehouses continue to squeeze their lowest producing financial advisers, with Bank of America Merrill Lynch telling its second-tier brokers this week that they need to sell more products and services to earn the same pay in 2016....

What the CEOs of adviser organizations are paid

December 1, 2015

Managing a successful advisory practice is not the only way to make a good living in the financial advice industry. Running an interest group or an organization that sets standards for an adviser credential also can be lucrative. The following...

How advisers can close the industry's gender pay gap

November 29, 2015

InvestmentNews' Women's Issue last week uncovered many realities about life in the financial advice industry. One seemingly positive finding: The gender pay gap is smaller for financial advisers than for the labor force as a whole. Women make...

The pay gap between the sexes is relatively slim in financial advice

November 22, 2015

The gap between what women and men make for doing the same job is a blight on most professions in America. In financial advice, however, pay inequity between the sexes is relatively slim. Pay data for financial advisers collected by InvestmentNews...

UBS hires three Credit Suisse teams with $3.2B in assets

November 17, 2015

UBS Private Wealth Management picked up three Houston teams that manage approximately $3.2 billion in total client assets. The three teams, formerly of Credit Suisse, were hired by UBS on Monday, according to company spokesman Gregg Rosenberg....

Robert McCann named UBS Americas' new chairman

November 3, 2015

Robert McCann will be bumped up from the leadership of UBS Group AG's advisers in America to a new role, chairman of UBS Americas, where he will focus on clients and strategic priorities in the region, the company announced Tuesday morning....

5 simple ways to help clients understand advisory fees

October 19, 2015

To get clients to understand and appreciate the value of professional financial advice, they must grasp two key metrics: what they are paying and what services are being provided for these fees. While this equation sounds simple enough, the...

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