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What grabbed <i>InvestmentNews</i> readers this week
A big arbitration award, a story about recruiting bonuses and how Vanguard grabbed Pimco's bond crown were among the most read stories this week on InvestmentNews.com. Plus: Lessons from Robin Williams' estate and another investment team loss at LPL.
Advisers with combined $300M AUM join Wells Fargo
Previously worked for Morgan Stanley, all for more than 20 years.
Baird snatches Wells Fargo adviser with $350M in AUM
Gary Foose Jr. will join the firm's Houston office.
Wells Fargo hires UBS team in Texas
Previously managed more than $300 million in assets.
Ex-Morgan Stanley broker loses nearly $1M but gains 100K in Finra arb case
Finra arbitration panel finds adviser liable for remaining balance on promissory note, but orders wirehouse to pay for closing his branch.
Brokers’ own accounts tip off firms to a move
Brokers who make large drawdowns from their investment accounts may be showing their hand before breaking away.
Indie reps happier at work than employee advisers: J.D. Power
Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction among the two groups is narrowing. See how your firm ranks
Broker comp puts pressure on wirehouse profit margins
Even as firms trim non-compensation expenses, profit margins stay below stated goals.
HighTower adds $440M team from Merrill
The hybrid firm has brought on over $1 billion in assets from the wirehouse in the past month.
For fund managers, high-yield pullback comes with liquidity risks
Lower broker-dealer bond inventories and growing use of high-yield funds could test markets, increase price swings.
Newborn Lebenthal RIA triples its assets but expects more to come
Lebenthal Holdings stands to triple the size of its new wealth management unit with the acquisition of the business of two Morgan Stanley brokers. But that's just the beginning, if CEO Frank Campanale has his way.
Wells Fargo Advisors names mobile and online chief
American Express and J.P. Morgan Asset Management vet McConnell tapped to lead new position at WFA Digital.
Wells Fargo Advisors’ profit soars
Wirehouse raked in $544 million, up 25% from the year-earlier quarter.
UBS seeks to raise fees amid mutual fund conversion
Losing revenue from 12(b)-1 fees, the firm is asking its advisers to raise minimum fees to help make up for lost revenue.
$650M broker team breaks away from Morgan Stanley
Morgan Stanley team with $650 million in assets breaks away to set up shop with help from a new firm, Tru Independence
Brokers find it harder to wipe slate clean
Public pressure on Finra's expungement process has arbitrators thinking twice about erasing disclosure events, attorneys on both sides agree.
Be prepared to justify your fees
It's important for advisers to not show surprise or resentment when fee questions are raised by clients.
Exclusive: HighTower launches fee-for-service platform
HighTower debuts fee-for-service platform for independent wealth managers after signing its first client, an advisory firm with $19.9 billion under advisement.
Independent broker-dealer a magnet for brokers from troubled firms
Thirty-one of 37 brokers at IAA Financial, partly owned by Finra board small firm rep Kevin Carreno, came from firms Finra had expelled.
Morgan fined $1 million in retired-broker snafu
Wirehouse slapped with fine after Finra alleged it paid retired brokers $100M in commissions without making sure they had stopped providing advice.
