Wall Street firms' outsized account minimums are sending a negative message to retail investors. Let the wirehouses' losses be your gains.
The four large brokerages have emerged among the least affected by the heaviest regulation to hit the financial advice market in decades. <i><b>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener">The DOL fiduciary rule covered from every angle</a>)</b></i>
Agency concerned about brokers who sell out client positions at old firm to generate commissions at new firm. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The fiduciary rule covered from every angle</a>)</b></i>
The financial industry generally has not barked about the final fiduciary rule, but that doesn't mean that it won't eventually bite.
U.K., Australia both passed fiduciary rules, though their versions weren't limited to retirement advice. How have they fared, and what can U.S. advisers learn from them? </br><b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">Coverage of the DOL fiduciary rule from every angle</a>)</b></i>
Final version includes a number of changes that address the most serious concerns of those who most vehemently criticized it.
If the firm's executives expected trainees to work long hours without being compensated for their overtime, then they deserved to lose the lawsuit.
Answers to common sources of confusion or misunderstanding about the new regulation.
Many advisers and the firms they work for are still woefully unprepared for what lies ahead.
Wirehouse recently claimed it typically retains 40%-50% of client assets after an adviser leaves.
Policies and procedures which, when layered upon already onerous rules and regulations, fail to recognize advisers' years of experience and wisdom.
Only 5% of clients left the wirehouses last year because they felt fees were too high
NFL star claims Merrill Lynch was complicit in a scheme that caused him to lose $20 million.
The wirehouse gains headcount even as the brokerage industry braces for a wave of departures from long-term retention deals expiring.
Advisers choosing models with the most support forgo up to 25% of profits.
What the state of adviser recruiting might look like in 2016, from the wirehouses to the independent space
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.
Headcount is up, but unit's earnings are down as a result of strong increase in litigation expenses.
