Results for "recruiting"

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Ivy League football 'mafia' gives Wall Street a talent pipeline

September 22, 2010

University of Pennsylvania defensive back Josh Powers may have a better opportunity than playing for college football's national championship: a six- figure Wall Street salary upon graduation. Powers, a senior at the Philadelphia-based school,...

Cold calling brokers are still hurting the entire industry's reputation

September 8, 2010

Cold calling, as a method for bringing in new accounts, appears to be live and well. I'm sure that some Advisors can do it well. However, based on my own personal experience over the last month (yes, a small sample of data, but illustrative...

$3.2M Smith Barney team bolts Morgan Stanley for J.P. Morgan

September 3, 2010

Morgan Stanley Smith Barney LLC has lost a $3 million producing team of veteran Smith Barney brokers to rival J.P. Morgan Securities LLC. The team, known as the Landmark Group, is based in the White Plains, N.Y., office of J.P. Morgan Securities....

UBS hires Morgan Stanley Smith Barney alternatives specialist

August 31, 2010

Jerry Pascucci, the chief investment officer for alternative investments at Morgan Stanley Smith Barney, is joining the U.S. wealth management unit of UBS AG to run alternatives for high-net-worth clients. “In our current economic environment,...

Baird snags nine MSSB reps overseeing $1.3B

August 24, 2010

Robert W. Baird & Co. Inc. said today it has hired nine advisers from Morgan Stanley Smith Barney LLC who collectively oversee nearly $1.3 billion in client assets. The advisers now operate from new Baird branches in Fort Worth, Texas, and Charleston,...

Dallas broker's CEO resigns, pursuing 'other interests'

August 19, 2010

SWS Group Inc., the parent company of Dallas-based independent broker-dealer SWS Financial Services, said Thursday that its chief executive has resigned to pursue other interests. Donald W. Hultgren, 53, resigned Wednesday as president, CEO...

Cetera hires Schwab exec as new national sales head

August 19, 2010

Mark Palmer, a Charles Schwab & Co. Inc. executive, today was named national sales manager at Cetera Financial Group, the broker-dealer network owned by private-equity firm Lightyear Capital LLC. The position is new. Mr. Palmer will oversee...

U.S. Trust lures three advisers from Barclays Wealth

August 18, 2010

U.S. Trust, the wealth management unit of Bank of America Corp., said this week it has hired three advisers from rival firm Barclays Wealth. The firm named both Ray Schuville and George Jenckes private client advisers and Josh Glazer private...

Wilmington Trust nabs new head of credit-risk unit

August 17, 2010

Robert P. Gehring, a 39-year veteran of the commercial banking industry, has taken over as head of the credit risk unit at Wilmington Trust Corp. Company spokesman William Benintende said Mr. Gehring took over his new position six weeks ago....

Ex-Wells Fargo broker opens indie shop in his branch's shadow

July 30, 2010

Jeffrey Sica spent more than four years plotting his move from Wells Fargo Advisors LLC to independence but stumbled a day before he planned to give notice. While arranging furniture in the office of Sica Wealth Management LLC that he was about...

TD Ameritrade recruiting breakaway brokers at a rapid clip

July 21, 2010

TD Ameritrade Institutional reported today that it has attracted more breakaway advisers to the firm during the first nine months of its current fiscal year than it did in all of fiscal 2009. Over the nine-month period ended in June, 212 such...

GenSpring adds family investment officer

June 29, 2010

GenSpring Family Offices LLC said today that it has hired Puneet S. Sahi as a family investment officer for its Costa Mesa, Calif., office. In this job, Mr Sahi will work on investment policy, asset allocation, investment manager selection and...

Big recruiting deals in AdviserLand: What's going on?

June 9, 2010

Monday's Wall Street Journal had an article about B of A/Merrill Lynch increasing their deals for recruits at the high end for 150%, up from 120%. At the same time, Morgan Stanley Smith Barney reportedly is offering big deals for third and fourth...

Regional brokers boost head count by 2%

June 8, 2010

Regional broker-dealers are the only companies in the financial services industry that have added advisers in the past year, according to a study by Financial Research Corp. From March 31, 2009, through March 31 of this year, the number of advisers...

Another MSSB complex manager exits

May 18, 2010

Morgan Stanley Smith Barney LLC has lost another top manager in New York. This morning, Michael Simonds, senior vice president and complex manager for the One New York Plaza branch, resigned. Industry sources said Mr. Simonds was moving to Bank...

Post-crash, advisers yearn for structure

May 16, 2010

When financial advisers did their business post-mortems after the 2008-09 economic downturn, many were alarmed to find that their firms weren't well-prepared to handle such a crisis. As a result, many advisory firms have been re-examining their...

AIG's broker-dealer network loses another star rep

May 11, 2010

The former AIG Advisor Group of broker-dealers has lost another top-producing adviser. Erin Botsford resigned from FSC Securities Corp. last week and joined DeWaay Financial Network LLC, a small, little-known independent broker-dealer based...

Wells Fargo loses another A.G. Edwards raiding case to Stifel

May 10, 2010

Wells Fargo Advisors LLC was ordered to pay $948,000 in legal fees and costs to Stifel Nicolaus & Co. Inc. and a former branch manager after it lost a claim against Stifel for hiring four of brokers from A.G. Edwards. The Financial Industry...

Big shake-up at big brokerage branches in New York

May 6, 2010

The four largest retail brokerage firms have made changes in their New York City area branches this week. Wells Fargo Advisors said it hired Thomas R. Isaacs, a 25-year veteran of Merrill Lynch & Co. Inc., to run its seven private-client-group...

Edward Jones loses star reps to wirehouses

May 4, 2010

Edward D. Jones & Co. LP lost two of its top brokers last month, an unusual blow to the mammoth broker-dealer, which over the years has managed to retain much of its top talent. Brokers Rebecca Frazier and Brad Hare each produced more than $1...

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