Morgan Stanley has completed its $7 billion acquisition of Eaton Vance in a transaction in which the fund firm’s shareholders could receive shares or cash.
The acquisition “further advances our strategic transformation by continuing to add more fee-based revenues,” James P. Gorman, chairman and CEO of Morgan Stanley, said in a release.
Thomas E. Faust, Jr., chairman and CEO of Eaton Vance, has become chairman of Morgan Stanley Investment Management and will join the parent firm’s management committee.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
New Treasury and IRS proposals would let employers add tax-free payroll contributions to the retirement accounts as advisors weigh the fit for client families.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
