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Brokerages toss around ideas about salary for Next Gen advisers
Wells Fargo is testing new models that would pay on a salary plus commission basis in effort to attract Millennials
Finra approves background checks for brokers
At its board meeting, Finra approved background checks for brokers and plans to consider requiring new information such as exam scores on BrokerCheck.
Merrill Lynch hires Barclays adviser duo
The team, who previously managed $285 million in assets, join Merrill in New York.
Merrill Lynch dodges high-profile gender bias suit
N.Y. Supreme Court justice dismisses a complaint from three former trainees who claimed they were given a book called “Seducing the Boys' Club” and ultimately fired out of bias.
Wirehouses, banks, RIAs under cost pressure even as assets rise
The rich are getting richer, and that's good news for banks' wealth management units. But for how long?
Clintons jump through financial planning loopholes to dodge estate taxes they support
Breakfast with Benjamin: Brokers pouncing on 401(k) biz. Plus: The Clintons dodge the estate taxes they support. The Fed wants to add exit fees to bond funds, U.S. banks on the edge of new funding rules, Congress mulls investor confidence on your dime, El-Erian sides with the IMF, and merger mania is alive and well.
Schorsch’s pickup of J.P. Turner: "Such a bargain!"
Nick Schorsch has been snapping up B-Ds with the fervor of Carrie Bradshaw from “Sex and the City” chasing down her next pair of Manolo Blahniks. But with J.P. Turner, is the firm's stock-jockey history a problem or did Nick buy a gem at downtown prices?
Financial industry groups oppose adding exam scores to BrokerCheck
Both SIFMA and FSI cautious about Finra proposal to strengthen its database.
Morgan Stanley taps new head for private wealth unit
Morgan Stanley Wealth Management, the largest of the four wirehouses by financial adviser head count, has filled a…
Head count falls but fee revenue boosts Merrill Lynch in 1Q
Asset management fees hit a record $1.5 billion, up 21% from the first quarter last year; assets on Merrill One surge.
Brokerage industry sounds off about Finra broker compensation proposal
Comment letters show independent B-Ds want no part of it, while wirehouses are all for it.
Merrill Lynch’s Thiel: Fee transparency key to restoring trust
If the industry hopes to build trust, clients have to understand what they're paying, executive tells crowd at conference in New York.
Morgan Stanley CFO calls too few women leading U.S. companies an ’embarrassment’
Morgan Stanley chief financial officer Ruth Porat called the low number of women running U.S. companies an “embarrassment” that shows the need for new laws.
Krawcheck: Women on Wall Street have ‘gone backwards’
Sallie Krawcheck, the former Bank of America Corp. and Citigroup Inc. executive, said women lost ground on Wall Street after the financial crisis because executives and boards hired people who looked like them.
Wells Fargo signs $1.5 billion Michigan team
Trio previously worked at J.P. Morgan Private Client Service Group.
4 reasons you keep losing your best employees
High employee turnover is brutal for a service business such as financial advice. Joe Duran on how to create a dynamic culture within your office.
Nation at risk of another economic crisis, Bowles warns
Co-chairman of debt-reduction commission says the markets are headed toward a dip worse than 2008 if politicians don't get spending under control
Scoring the wirehouses’ first quarter results
Year-over-year profits at the big four rose 16% in the first quarter, but which firm fared best?
UBS wealth unit reports solid earnings, raises bar for advisers
After profits climb 30%, CEO challenges brokers to do more lending and boost margins
Finra seeks to beef up use of BrokerCheck
Revives proposal that would require brokerages to link to regulator's database, including disciplinary background info.
