Results for "compensation and staffing"

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Thinking about going independent? How to understand RIA options for your practice

April 22, 2015

The Registered Investment Adviser model continues to be an increasingly attractive option for independent advisers in today's marketplace. Cerulli predicts the appeal of the RIA and dually registered models to the industry's largest and most...

The right time to increase your firm's investment in staff and pay

April 16, 2015

The typical advisory firm spends 57% of its revenue on staffing and compensation. That accounts for over 70% of a firm's total expenses. When it comes to people, there is little room for error. It's no wonder, then, that some firms will push...

The 'why', 'why not', and 'how' of financial adviser succession planning

April 13, 2015

As I watched episode 3, I found myself pacing, and mixing in the occasional fist pump. I can't contain my enthusiasm when it comes to this topic, or this series. In this episode, we are treated to the consultants giving their analysis. Greg...

Advisers can't live by AUM fees alone

April 12, 2015

It's time for financial advisers to rethink the AUM fee — fast. Charging a percentage — usually 1% — of assets under management has long been considered the most ethical, and profitable, way to get paid for delivering financial planning...

Getting your firm's employees to perform is about more than just compensation

April 10, 2015

The financial advisory industry continues to grow and mature in management practices, but some firms are accelerating faster than others. These firms have advanced beyond leveraging staff to service clients and are tackling succession planning...

Advisory fees show signs of a rebound

April 5, 2015

Fee-based pricing for financial advice is on an upswing after years of downward pressure in the industry — from cheaper investment products to low-cost robo-advisers. Fees charged on assets under management even fell below the standard marker...

Brokerage executives enjoying steadily increasing payouts

April 5, 2015

It's a good time to be a brokerage executive. As markets rise and wealth management becomes the golden child at many of the major financial services firms, these executives have been awarded steadily increasing payouts, some of which have doubled...

Fired $1.3B Merrill broker speaks out

April 2, 2015

Thomas Buck, a 33-year veteran of Merrill Lynch who was fired last month, said he never saw it coming. He arrived at the office at 8 o'clock on March 4 for what he says he thought would be a routine meeting with local and regional managers....

LPL cuts cash bonuses for top three executives in 2014

March 23, 2015

True to its word that it would cut bonuses because of poor performance, LPL Financial Holdings Inc. has revealed that its top executives, including chief executive Mark Casady, saw annual cash bonus awards in 2014 decline between 28% and 41%....

Forget personality tests, Edward Jones uses job simulation to assess potential hires

March 13, 2015

Edward Jones has eliminated personality testing as part of its process to find the best financial adviser candidates. Instead, it's finding more success with a 16-step hiring process that includes a “day in the life” simulation. The St....

Morgan Stanley settles mortgage bond probe for $2.6 billion

February 26, 2015

Morgan Stanley's mortgage bond history results in a $2.6 billion settlement. The math hits shareholders to the tune of $1.35 per share Warren Buffet's Berkshire Hathaway empire is being described by analysts as one of the murkiest around. Transparency...

Is OPEC about to flinch and cut oil production?

February 24, 2015

After five months of playing it cool, OPEC is starting to sweat over low oil prices. An emergency meeting is now being considered, which means they might be rethinking their strategy of flooding the market with oil to crush the fracking industry....

Morgan Stanley's Hunger Games-inspired video they don't want you to see

February 24, 2015

(InvestmentNews' third-party video-hosting service has blocked the video accompanying this story per a request from Morgan Stanley. We are working to have it restored as soon as possible.) There's a grain of truth in every joke, and while a...

LPL to cut bonuses to employees, top management

February 19, 2015

After a year of discouraging financial results due to a sharp increase in regulatory expenses, LPL Financial Holdings, parent of the nation's largest independent broker-dealer LPL Financial, will cut bonuses to employees, including the company's...

The Mutual Fund Store adds new products, services as it eyes eventual IPO

February 15, 2015

Three years after taking over leadership of The Mutual Fund Store from its charismatic, straight-shooting founder, Adam Bold, John Bunch is starting to make his mark by expanding its products and services. The company is expanding its financial...

Build trust with clients through clear communication and transparency

January 26, 2015

Some of the most successful, honest and reputable advisers I've interviewed over the years have cited that what makes them different is that they — unlike less scrupulous advisers — actually do what they claim and truly have their clients'...

Brokers under White House scrutiny for costing workers billions in retirement savings

January 23, 2015

One of President Barack Obama's top economic advisers said abusive trading practices are costing workers billions of dollars in retirement savings each year and called for stricter rules on Wall Street brokers. Jason Furman, chairman of President...

Taking over an adviser's book can be a risky venture

January 22, 2015

Stepping into the shoes of a retiring financial adviser may sound easy compared to the business development efforts it takes to recruit an entire practice of clients. But even after making it through the difficult task of completing such a deal,...

Good looks aren't everything, but it might help you attract more assets

January 22, 2015

Better-looking money managers attract more clients, but they also tend to underperform. So, there's that. Looks aren't everything The winning bidder in an IRS auction for $2 million worth of annuity payments from a 1985 contract between the...

10 developments to watch in the independent broker-dealer industry in 2015

January 18, 2015

Advisers and their independent broker-dealers saw movement last year in regulation, investment products, business strategies, retirement vehicles and more. Here are 10 of the hottest topics, which are sure to continue to evolve as the year unfolds....

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