Earnings up 80% in 1Q, even though recruitment dipped substantially; 'people dangling money'
In an executive switch that creates an opening in its wrap account business, Morgan Stanley Smith Barney LLC has named a new chief operating officer and a new private-wealth-management head.
Charles G. Goldman, who lost his position as head of Charles Schwab & Co.'s industry-leading business for independent investment advisers 18 months ago, has sued the company in federal court for more than $736,000 in severance pay and related benefits.
The Charles Schwab Corp. last week handed the reins of its registered investment adviser custody business to Bernard “Bernie” Clark who had run sales and relationship management for the Advisor Services group.
UBS will rebuild its reputation and revenue by marketing the advisory strength of its brokers and minting better products for wealthy investors, according to its new CEO
UBS Wealth Management Americas, the profit-starved U.S. retail-brokerage unit of UBS AG, is firing about 200 people, including several senior executives, a company spokesman said.
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.
The Securities and Exchange Commission's adoption last week of new customer disclosure rules was overshadowed by the agency's plan to revamp mutual fund sales charges, but it will have a more immediate impact on investment advisers.
In yet another shakeup at the company, Scott Dell'Orfano adds relationship management to his duties, while Ron Fiske takes on the clearing unit.
Recruited from Charles Schwab Corp., Mr. Goldman will be leaving Fidelity after just one year.
