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UBS sees turnaround in wealth management boosting profit
UBS AG, the world's largest wealth manager, said clients are shifting money to be managed directly by the bank or pay for advice in a reversal of previous outflows after it revamped services to boost profitability.
Fast and Furious and…wealth management?
The driver of the car that killed actor Paul Walker was a Merrill Lynch wealth manager and had been named a top adviser in 2010, 2011 and 2012.
BNY Mellon to sell Wall Street headquarters
Bank of New York Mellon Corp. plans to sell Manhattan's 1 Wall St., the Art Deco skyscraper that serves as its corporate headquarters, and has hired brokers to find a smaller amount of space to lease elsewhere.
Finra board eyes raising arb fees to increase arbitrator pay
Finra is considering raising the fees related to pursuing an arbitration claim against a brokerage firm in order to increase the pay for people who hear the cases.
Driver in celebrity death crash was Merrill Lynch adviser
Roger W. Rodas was in actor Paul Walker's car; firm “deeply saddened” by loss.
Why wirehouse advisers should become an RIA
Bill Schwartz, an independent adviser who broke away from Merrill Lynch, says he understands why advisers stayed at wirehouses five or 10 years ago. But today, the game has changed.
Merrill grapples with ‘the elephant in the room’
New research into the complexities of Americans' financial lives is driving Merrill Lynch Wealth Management to change the way its advisers work with clients.
Broker who took the bull by the horns
“I’ll give you as much time as you want,” George McReynolds drawled, leaning back in a chair in…
3 wirehouses raise stakes to court rich
Three of the four wirehouses have announced tweaks to their adviser pay packages and incentives, with their sights set on courting the wealthiest clients.
Changes expected as Finra weighs controversial broker-comp rule
Wirehouses largely back recruiting incentive regulation but IBDs oppose it.
Cogent: Two-thirds of industry compensation to be fee-based by 2015
In a bad omen for the mutual fund industry, the shift toward fee-based compensation is expected to accelerate over the next two years, a new report finds. Who's pushing the trend?
BofA settles municipal derivatives-rigging claims
Deal is on top of $62.5 million the bank contributed to settlement fund.
Look out below: T. Rowe Price warns of correction in the New Year
Today's Breakfast with Benjamin: T. Rowe Price warns of correction, Deutsche Bank bans chat rooms, the first-ever hedge fund ad debuts, big banks sweating over the looming Volcker rule, and EU Commission levies heavy fine for rate rigging.
UBS targets African wealthy
The world's biggest wealth manager, is targeting millionaire clients in oil-rich Nigeria and Angola as Swiss rival Credit Suisse Group AG withdraws from some African markets.
The three phases of breaking away
Step by step, former wirehouse advisers can build a new brand and enjoy new freedom.
Blankfein says Goldman Sachs can boost ROE without major changes
The Goldman Sachs Group Inc., the U.S. bank most reliant on trading, won't make any “wholesale strategic change” to help improve returns, chief executive Lloyd C. Blankfein said.
Merrill Lynch fined over rogue broker
Massachusetts securities' regulators fine the brokerage giant $500,000 for failing to stop a rep from defrauding clients.
Do your clients really need long-term care insurance?
What's InvestmentNews senior columnist Jeff Benjamin reading this morning? Whether your clients need long-term care insurance, hedge funds loading up on GM stock, Greenspan calls Bitcoin a bubble, JPMorgan confirms cardholders were hacked and Britain gets bullish. Breakfast with Benjamin is served.
SEC to mutual fund industry: Stop promising safety and protection
Today's Breakfast with Benjamin: The regulator tells the mutual fund industry to stop promising safety and protection. Plus, the QE government bonanza, JPMorgan's Twitter beatdown, SAC Capital trial could go inside the hedge fund.
UBS adds to Southern California push with $500 million adviser
Firm's crop of recent hires for its wealth management unit have managed more than $5.2 billion.
