Results for "wirehouses"

Displaying 1,280 results

Sort: Date | Relevance

Author:

Broker-dealer asset growth outpaces rival channels, Cerulli says

December 15, 2017

It's been a good year for broker-dealers, compared with rival channels. The latest data from research and consulting firm Cerulli Associates found that national and regional B-Ds grew assets at a rate of 9.1% year-over-year, faster than all...

Morgan Stanley's aggressive move against former employee puts brokers on notice

December 14, 2017

Morgan Stanley's pursuit last week of a temporary restraining order against a New Jersey broker who resigned December 8 is a clear sign the firm will aggressively enforce one-year non-solicititation agreements in contracts with brokers, industry...

UBS replaces wealth management chief

December 14, 2017

Juerg Zeltner, the head of UBS Group AG's $1.3 trillion wealth-management unit, is stepping down in January and will be replaced by Switzerland chief and former Commerzbank AG head Martin Blessing. The move is the second high-profile private...

Three big effects of the shifting broker protocol

December 13, 2017

About a month ago, Morgan Stanley announced it was leaving the protocol. A few weeks later, UBS followed suit. The protocol is the mutual agreement that lays the ground rules for advisers to leave their existing brokerage firm and take specified...

Morgan Stanley wins restraining order, but former broker can contact clients

December 13, 2017

A federal judge in New Jersey on Wednesday afternoon issued a temporary restraining order against a former Morgan Stanley broker who left the firm last week and moved to Commonwealth Financial Network but left the door wide open for the broker...

Raymond James gets Merrill Lynch, Morgan Stanley advisers managing $560 million

December 8, 2017

An adviser who managed $230 million at Merrill Lynch on Long Island and three advisers who managed $330 at Morgan Stanley offices in Westchester and Long Island have joined offices of the employee unit of Raymond James in the New York suburbs....

As firms pull out of protocol agreement, wirehouse brokers show more interest in breaking away: execs

December 8, 2017

As the broker protocol recruiting agreement increasingly becomes endangered, more wirehouse brokers are making inquiries about becoming independent advisers, according to industry executives with knowledge of such activity. Firms such as Dynasty...

Broker protocol is good for firms and clients, study finds

December 6, 2017

Brokerage firms that have already exited the broker-protocol agreement, or are considering an exit, might be missing the bigger picture, according to research by two finance professors at the University of Kentucky. Presenting Tuesday in Miami...

Wentworth buys Purshe Kaplan Sterling

December 5, 2017

Independent broker-dealer mergers and acquisitions continue to heat up as a buyer of wealth management businesses, Wentworth Management Services, said on Tuesday afternoon it acquired Purshe Kaplan Sterling Investments, a boutique firm that...

Merrill likely next big firm to dump broker recruiting protocol

November 29, 2017

Securities industry recruiters believe that Merrill Lynch will be the next wirehouse to drop the broker protocol for recruiting, as working under the agreement allows Merrill's Thundering Herd too much leeway to take off for greener pastures....

UBS broker-protocol exit puts firm before clients

November 27, 2017

Jerry Seinfeld has a routine, a "bit", where he makes fun of fans of professional sports. When a player is part of the team you root for, you cheer him on. When he departs, you scream that he's a bum. In fact, he says, you actually are just...

UBS broker-protocol exit shows independent channel is bleeding wirehouses of advisers

November 27, 2017

UBS Wealth Management America's decision to leave an industry agreement known as the protocol for broker recruiting is a clear indication that the large wirehouse firms are losing more brokers through attrition than they are gaining from recruiting,...

Nontraded REITs to post worst sales since 2002

November 21, 2017

Sales of nontraded real estate investment trusts are headed for their worst year since 2002, with the industry on track to raise just $4.4 billion in equity in 2017, about $100 million less than a year earlier, according to data from Robert...

RBC Wealth Management on recruiting roll

November 14, 2017

RBC Wealth Management is on a recruiting tear in 2017, as its recruiting bonus remains one of the most attractive on Wall Street, according to industry sources. According to data compiled by InvestmentNews, RBC Wealth Management successfully...

To 'fix' the broker protocol, bring in the SEC

November 14, 2017

The foundation of the Protocol for Broker Recruiting, and indeed the stated purpose, is to support client freedom of choice, to permit clients to move with their adviser when they change employment. By joining the protocol, member firms agree...

Wells Fargo requires advisers to use level fees for new 401(k) business

November 14, 2017

Wells Fargo Advisors is requiring that financial advisers servicing 401(k) plans do so in a level-fee arrangement for new business, as have other large brokerage firms, in response to the Department of Labor's fiduciary rule. "We have moved...

Morgan Stanley advisers feel burned by broker protocol exit

November 3, 2017

Some Morgan Stanley​ reps and advisers feel the firm has turned its back on them by dumping an industry agreement known as the protocol for broker recruiting. On one hand, a portion of Morgan Stanley's 15,759 advisers are indifferent to the...

Morgan Stanley's broker protocol exit: How did we get here?

November 2, 2017

Morgan Stanley dropped an industry bombshell this week upon announcing it would leave the broker protocol, a 13-year-old agreement that governs how financial advisers could leave one brokerage firm for another without getting in legal trouble....

Did Morgan Stanley just kill the broker protocol agreement?

October 31, 2017

Morgan Stanley's decision to walk away from the brokerage industry's protocol agreement "overnight, increased the risk of other brokerage firms likely pulling out of the agreement," said Brian Hamburger, chief executive of compliance consulting...

Morgan Stanley dumps broker recruiting protocol

October 30, 2017

Morgan Stanley's decision to leave an industry agreement known as the protocol for broker recruiting is an indication that the firm is working harder than ever to prevent its brokers from jumping ship, industry sources said. One reason for that...

« Previous PageNext Page »

1 | 2 | 3 | 4 | 5 | 6 ... 64

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.