Results for "merrill lynch"

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Morgan Stanley CEO is happy that brokers are staying put

July 18, 2018

James Gorman, CEO of Morgan Stanley, loves life at his firm eight months after it dumped an industry agreement called the protocol for broker recruiting, which makes it easier for advisers to leave to join another broker-dealer. For decades,...

RIA 'Shark Tank' backs a digital adviser out of the gate

July 17, 2018

Consolidation among consumer-facing digital advice firms isn't stemming the flow of funds into robo platforms designed for financial advisers. ScratchWorks, a Shark Tank-esque program for financial technology founded by five independent registered...

Finalists announced for 12th annual Invest in Others Awards

July 16, 2018

Fifteen advisers and six companies have been named as finalists for the 12th annual Invest in Others Awards. The Invest in Others Charitable Foundation honors financial advisers and firms that have demonstrated commitment to their communities...

Merrill Lynch: Compensation plan paying off in new business

July 16, 2018

Merrill Lynch said Monday a compensation plan designed to bring in new clients is paying off. Over the first half of the year, the wirehouse said gross new household acquisitions by experienced Merrill Lynch advisers were up 71% over the same...

Writing on the wall for direct-to-consumer robo startups

July 16, 2018

The consolidation of direct-to-consumer robo-advisers is in full swing. Hedgeable, an early digital adviser that stood out for targeting wealthier clients with active management, hedging strategies and access to alternative investments like...

Fired Merrill Lynch star broker Bruce Lee starts own RIA

July 11, 2018

A former star Merrill Lynch adviser in Chicago who was fired in April has opened his own RIA. The adviser, Bruce K. Lee, opened Keebeck Wealth Management and has been registered there since Monday, according to his BrokerCheck report. A perennial...

Merrill Lynch launches fiduciary dashboard for advisers

July 11, 2018

The Department of Labor's fiduciary rule is dead, but investments in technology to help advisers meet a best-interest standard are not. This week saw the public launch of Merrill Lynch's new Fiduciary Dashboard, a practice management tool to...

Goldman pushes deal-makers to land wealth management clients

July 10, 2018

The best time to get hired to manage a billionaire's money is while your firm is helping to create that fortune. That's the thinking behind Goldman Sachs Group's push to have its deal-makers help the bank's wealth managers land new clients....

Supreme Court nominee Brett Kavanaugh voted to strike down 'Merrill Rule'

July 10, 2018

A federal judge nominated by President Donald J. Trump on Monday to fill a Supreme Court vacancy once cast a deciding vote in a case crucial to the evolution of investment advice standards. Judge Brett M. Kavanaugh of the U.S. Circuit Court...

Wells Fargo team managing $177 million joins Janney

July 9, 2018

A two-broker team managing $177 million at Wells Fargo Advisors in Franklin, Tenn., has joined Janney Montgomery Scott. The team members, Bradley S. Dickens and Jason Minor, are long-time Wells Fargo advisers. Mr. Dickens began his securities...

Michael Duffy and Happiness Wealth Management join LPL Financial

July 9, 2018

Michael Duffy and his firm, Happiness Wealth Management, have joined LPL Financial. The firm, which is based in San Carlos, Calif., joined LPL's broker-dealer and hybrid registered investment adviser platforms. Mr. Duffy has authored five books,...

Georgia decision on broker protocol could have wide impact

July 9, 2018

Financial advisers relying on the protocol for broker recruiting to protect their ability to jump to a new employer will face more obstacles now that a Georgia state court has ruled that advisers with contracts requiring them to give notice...

State court ruling on broker protocol could greatly affect job seekers

July 3, 2018

Financial advisers counting on an industry pact to switch jobs safely with clients in tow could run into obstacles after a ruling by a Georgia state court last week. The decision, involving advisers who jumped to Morgan Stanley from Aprio Wealth...

Wirehouses using digital advice technology to boost cross-selling

July 2, 2018

Wirehouses may be playing catchup to the technology offered by custodians and independent fintech vendors, but the next-generation technology platforms they've recently revealed suggest a growth opportunity the others lack: a new chance to cross-sell...

Volatile trading in first half upends expectations

June 29, 2018

The half that began with "melt-up" euphoria ended with melt-down fear. Investors breezed into 2018 expecting to pick up easy returns from steadily rising asset prices. Instead, they're nursing losses on bets that had delivered the biggest gains...

Edward Jones, Commonwealth Financial top J.D. Power list of top brokerage employers

June 28, 2018

When it comes to workplace satisfaction among broker-dealers, some firms stand out from the pack. According to the latest research from J.D. Power, Commonwealth Financial, Raymond James Financial and Cambridge Investment Research fill the top...

Merrill adds Zelle to wealth management app to let clients make payments

June 26, 2018

Merrill Lynch is updating its mobile app with some modern features that are increasingly popular among consumers. Clients can now scan and send documents to their Merrill Lynch adviser using their smartphone camera, view activity in their Bank...

LPL Financial taps wirehouse veteran to lead recruiting effort

June 25, 2018

Continuing the churn in LPL Financial's recruiting group, the leader of the unit, Bill Morrissey, managing director and head of business development, is retiring and being replaced by a wirehouse veteran. Mr. Morrissey has been with LPL for...

D.A. Davidson expands with hires from Merrill Lynch

June 25, 2018

D.A. Davidson & Co., a broker-dealer headquartered in Great Falls, Mont., has recruited eight financial advisers in the past two months, including four from Merrill Lynch. "Our recruiting from wirehouses has picked up," said Michael Purpura,...

Wells Fargo team managing $150 million moves to Snowden Lane

June 22, 2018

A seven-person team managing $150 million at Wells Fargo in San Antonio, Texas, has formed a hybrid firm and affiliated with New York-based Snowden Lane Partners. Led by Mark Hogan, Leah Eller, Pam Appleby and Josh Hogan, the Hogan Eller Wealth...

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