Results for "compensation and staffing"

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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...

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...

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,...

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....

It's about more than payouts

January 18, 2015

When looking for a new broker-dealer, many advisers start with the basics. Payout and cost of doing business are usually at the top of the list of due-diligence questions advisers use to determine if a firm is a good fit. But the independent...

Persuading clients to defer enough salary

January 18, 2015

Everyone has hurdles to jump. For financial advisers, many of them come in the context of business development: attaining and then ex-ceeding X number of clients, gathering Y in assets under advisement or management, pushing the profit margin...

Financial adviser rises in list of top jobs

January 13, 2015

A ranking of America's top jobs found that financial advice increasingly is a terrific profession, moving up 16 spots on the U.S. News and World Report list from last year. “Financial adviser” ranked No. 25 of the 100 Best Jobs of 2015,...

Hedge fund employees enjoy the fruits of their labor

January 9, 2015

Hedge fund employees enjoy the fruits of their labor, even if that labor didn't bear much fruit. Average compensation at $368k Pimco and JPMorgan add their seal of approval by jumping on the smart beta bandwagon. The fundamental-indexing category...

Merrill loses advisers managing $18.6 billion in 2014

January 8, 2015

In the game of musical chairs that is veteran broker recruiting, Bank of America Merrill Lynch was left without a seat coming out of 2014. Last year, Merrill Lynch lost some 45 advisers who managed around $18.6 billion, an 80% increase from...

The biggest adviser moves of 2014 - Ranking the billion-dollar moves of 2014

December 22, 2014

According to InvestmentNews' exclusive Advisers on the Move database, a total of 388 adviser moves were reported in 2014. These moves resulted in a combined $84.7 billion in assets changing firms this year. Who were the biggest advisers to take...

CFP Board head of enforcement leaves in midst of compensation-definition disputes

December 19, 2014

The head of the legal and enforcement arm of the Certified Financial Planner Board of Standards Inc. has left the organization while it is embroiled in disputes over compensation descriptions for its mark holders, raising questions about its...

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