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Recruiter questions Merrill Lynch’s client retention numbers
Wirehouse recently claimed it typically retains 40%-50% of client assets after an adviser leaves.
The biggest teams are not going independent for financial reasons
Policies and procedures which, when layered upon already onerous rules and regulations, fail to recognize advisers' years of experience and wisdom.
Wirehouses least likely to lose clients because of high fees, Cerulli says
Only 5% of clients left the wirehouses last year because they felt fees were too high
Historical timeline of fiduciary duty for financial advice
1934 Securities and Exchange Act SEC commission in 1934 The law…
NFL star Freeney can proceed with fraud claim against Merrill Lynch
NFL star claims Merrill Lynch was complicit in a scheme that caused him to lose $20 million.
Bank of America Merrill Lynch increases adviser headcount 3% in 2015
The wirehouse gains headcount even as the brokerage industry braces for a wave of departures from long-term retention deals expiring.
For some advisers, money not motivating factor to go independent
Advisers choosing models with the most support forgo up to 25% of profits.
4 adviser recruiting predictions for the year ahead
What the state of adviser recruiting might look like in 2016, from the wirehouses to the independent space
The rich already use robo-advisers, and that scares banks
Banks are watching wealthy clients flirt with robo-advisers, and that's one reason the lenders are racing to release their own versions of the automated investing technology.
UBS U.S. wealth management: more advisers, less earnings
Headcount is up, but unit's earnings are down as a result of strong increase in litigation expenses.
Advisers cast their vote on who should be the next president
2,041 advisers surveyed by InvestmentNews weigh in on the presidential election
The biggest adviser moves for the fourth quarter 2015
Tracking the more than $26 billion in AUM that changed firms late in 2015.
IBDs trumped by Obama on DOL fiduciary, but vow to fight on
Financial Services Institute supports legislation to replace Labor Department's rule, and is not ruling out a lawsuit if it is finalized.
Merrill compensation plan makes it tough on small advisers
Wall Street wirehouses continue to squeeze their lowest producing financial advisers, with Bank of America Merrill Lynch telling…
Morgan Stanley to cut 1,200 jobs, take $150M charge in the fourth quarter
Cuts amounting to 25% of fixed-income trading staff plus reductions in infrastructure and support roles, result in $150M charge.
How brokers can navigate consolidation in the B-D industry
Advisers should take a deliberate approach to charting their future. Here's what to look for.
Former Morgan Stanley adviser sentenced to three years’ probation for data theft
Galen Marsh, who allegedly called the stolen data “the world's best cold-calling list,” had some of the data stolen from him and posted on the Internet.
A robo-adviser may be in the works for Morgan Stanley
Wealth Management President Gregory Fleming says a digital platform could attract younger clients to the firm.
Morgan Stanley hit with racial discrimination suit
As part of her claim, ex-broker alleges the wirehouse's recent move toward mandatory arbitration is an attempt to prohibit employees from publicly challenging unfair practices.
Next target for Galvin? Banks and cross-selling
Massachusetts regulator looking at whether financial institutions violated any laws.
