Richard Bove, a banking analyst with Rochedale Securities LLC, is expecting a bleak year for investment banks and brokerages, and suggests that financial advisers can expect less support from their parent firms and will see fewer opportunities to sign lucrative deals with competitors.
Advisory firms are in a hiring mode, and that means financial advisers are very much in demand.
Bank of America's 'New BAC' plan, which saw wealth management head Sallie Krawcheck ousted last week, will also include the elimination of some 30,000 jobs over the next few years in an effort to save about $5 billion in annual costs by the end of 2013.
Provision allows deceased to pass on exemption to spouse; expires in 2013
Even in the investment advice business, there's a place for beauty and sex appeal
When it comes to brokerage firm websites, designed to inform investors about their transactions, one of the first things one would think they'd get right would be providing them with their account information. Apparently, they don't.
Three former executives of defunct brokerage GunnAllen Financial Inc. agreed to pay $55,000 to settle government allegations that they failed to protect confidential customer information as the firm was going under.
Don Trone's new company, 3ethos, is launching a new fiduciary designation that will compete with existing certifications.
Compensation for compliance experts has been stagnant over the past few years, but that situation should be improving soon, largely thanks to the Dodd-Frank Act.
The Dodd-Frank Act's new incentive program, which rewards tipsters with as much as 30% of penalties collected, has been operating on an interim basis since the law was enacted last year.
Survey reveals big disconnect between what investors want — and what fund managers think they want
Employee benefits are an important factor in an advisory firm's annual expenses and set the tone for its ability to attract and retain prime hires.
Financial advisers who cut their commissions when the market turned down shot themselves in the foot, according to a new study from PriceMetrix Inc., a firm that provides practice management software to 15,000 retail wealth managers
Harder to make transaction fees without transactions
The odds are against advisers, but it's not impossible to retain female clients after their spouses die
Invesco offers free survey that gauges client's perception of financial advisers' strengths, weaknesses
In essence, an investment advisory firm is much like any other retail enterprise. Keep the customers happy and profits will follow.
Building a profitable advisory practice requires a lot of planning and plenty of teamwork. But some advisers still think that if they concentrate on doing a good job for their clients, profits will take care of themselves. They're mistaken.
