Results for "compensation and staffing"

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Waddell & Reed will no longer lease office space for many of its brokers

November 14, 2018

Waddell & Reed Inc. will no longer lease office space for most of its 1,074 independent contractor brokers and advisers, requiring them to find and relocate to their own offices by the end of 2020. Most of the firm's brokers and advisers currently...

Finra bars another wirehouse broker involved in expense report snafu

November 12, 2018

The Financial Industry Regulatory Authority Inc. on Monday barred a former Morgan Stanley broker who failed to complete on-the-record testimony regarding his departure from the firm two years ago after it raised questions about his expense account...

Credit Suisse hit again as Finra panel sides with second former broker on deferred compensation

November 7, 2018

A Finra arbitration panel has awarded $975,530 to a former Credit Suisse Securities broker who sought deferred compensation that he claimed was withheld when the Swiss bank closed its brokerage business in 2015. Nicolas Brine Finn, who now works...

The future of new-adviser training is now

October 26, 2018

One of the issues I hear about frequently these days is how to train new advisers. Training takes up valuable time, and most advisers would agree that it's not their forte. Many tenured advisers learned how to function in this industry at a...

Stifel, First Republic post top recruiting gains in Q3, as wirehouses continue to lose brokers

October 23, 2018

Two distinctly different firms posted the strongest gains of advisers during the third quarter, with registered reps and financial advisers continuing to leave large Wall Street firms. Stifel Nicolaus & Co. Inc., a retail wealth management shop,...

LPL rolls back recruiting policy aimed at driving more assets to its corporate RIA

October 22, 2018

LPL Financial is backing away from a contentious policy it created last year with the intent of driving more assets to its corporate RIA platform. Rolled out in August 2017, the policy required new advisers joining LPL to have at least $50 million...

Ex-Wells Fargo broker complaint wins class action status in fight over deferred compensation

October 16, 2018

A federal judge has granted class action status to a lawsuit brought by a financial adviser who claimed Wells Fargo Advisors cheated him out of $200,000 in deferred compensation. The adviser, Robert Berry, worked at Wells Fargo Advisors and...

Merrill to continue pay plan that rewards advisers for new clients

October 15, 2018

When it reveals its 2019 compensation plan in the coming weeks, Merrill Lynch will continue to reward its wealth management advisers for bringing in new client accounts. Last year, Merrill Lynch unveiled a 2018 pay grid that rewarded advisers...

9 predictions for financial advisers for 2019

October 9, 2018

As we roll into the final quarter of the year, David Canter, head of the RIA segment at Fidelity Clearing & Custody Solutions, has been speculating on what financial advisers might expect in 2019. From the future of mega advisory firms to technology...

Highest-paying jobs at advisory firms

October 5, 2018

Independent advice firms have been great places to work in recent years as salaries increased across the board. The latest InvestmentNews survey data show that trend continued in 2017, with lead advisers showing a particularly strong compensation...

Cetera Financial Group selling stock to its advisers

October 5, 2018

As part of a broad plan to bolster its 8,000 financial advisers, the recently sold Cetera Financial Group is offering its advisers loans to invest in their practices and an opportunity to buy stock in the company. In a press release Thursday,...

No changes to compensation plan for UBS advisers in 2019

September 12, 2018

UBS Wealth Management's 6,936 financial advisers in the United States will see little to no changes next year in how they are paid by the firm, according to an internal document obtained Wednesday afternoon by InvestmentNews. The status quo...

JPMorgan Chase axes about 100 asset management employees

August 22, 2018

JPMorgan Chase & Co. is dismissing about 100 workers in its asset-management division after a business review, according to a person briefed on the matter. The cuts are global and range across several businesses in the group, said the person,...

Morgan Stanley's new comp plan could pinch pay for some brokers

August 15, 2018

When Morgan Stanley released its 2019 compensation plan for its 15,632 financial advisers and brokers late last month, it made a point of saying that any changes to the grid, as it is known in the industry, would all be positive. But the new...

Morgan Stanley unveils compensation plan changes for 2019

July 30, 2018

Morgan Stanley followed through Monday on earlier pronouncements to goose financial advisers to chase assets using new technology when it unveiled pieces of its 2019 compensation plan. "We are executing on our commitment to deliver industry-leading...

Adviser compensation involves a conflict that can be managed — but not avoided

July 30, 2018

Over the past year, the Certified Financial Planner Board of Standards imposed discipline on several individuals regarding the way they disclosed compensation to clients and prospective clients. Specifically, the cases involved uses of the term...

Merrill Lynch: Compensation plan paying off in new business

July 16, 2018

Merrill Lynch said Monday a compensation plan designed to bring in new clients is paying off. Over the first half of the year, the wirehouse said gross new household acquisitions by experienced Merrill Lynch advisers were up 71% over the same...

Improved health outcomes can boost retirement savings

July 10, 2018

What would you say about a planning tool that quantifies how improved management of a chronic health condition can reduce a client's medical expenses, increase their life expectancy and boost disposable income? What if you took it a step further...

Companies start paying employee student loan debt

July 9, 2018

Employers are trying to help employees alleviate the burdens of outstanding student loans by offering to pay off some of the debt — which totals more than $1.4 trillion in the U.S. alone, according to the Federal Reserve. It's a relatively...

Ritholtz hires data analytics specialist in latest media-focused addition

June 15, 2018

Ritholtz Wealth Management added more talent to its team on Friday with the hiring of Nick Maggiulli, a data analytics specialist who runs the popular "Of Dollars and Data" personal finance blog. Mr. Maggiulli will become analytics manager and...

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