Global wealth boss said company lost 35 reps to independent B-Ds last year, but picked up 25
Bank of America Corp. won a court order temporarily blocking four former employees from using and sharing the bank's client records at their new employer, New York-based Dynasty Financial Partners.
Although its wirehouse rivals are keeping their electronic drawbridges closed to social media, Morgan Stanley Smith Barney LLC last week became the first major Wall Street firm to allow its financial advisers to use popular networking websites
Greg Fleming was named boss of Morgan Stanley's wealth management unit earlier this year. Since then, he's been busy rejiggering the management team at Smith Barney. The latest: the rehiring of a onetime CFO at the brokerage.
First-quarter earnings at Wall Street firms with large financial adviser forces demonstrate that after two years of turmoil, the biggest players in the investment industry have righted themselves and are poised to build their businesses again
The appointment last week of John Thiel as head of U.S. wealth management for Bank of America Merrill Lynch ends one chapter — and opens another — in the ever-changing management saga at the nation's second-largest wirehouse
After months of speculation, UBS today named Robert McCann as its new head of wealth management in the Americas
Bank of America's Global Wealth and Investment Management division — and specifically the Merrill Lynch brokerage operation — continue to benefit from improving markets.
Will head up BofA unit's institutional consulting group; wirehouse veteran
In the next crisis, the roles of Fannie Mae and Freddy Mac will be played by financial services giants
Are you familiar with the Wells Fargo Profit Formula program? It was designed and originally launched by Wheat First, the Richmond, VA based regional broker dealer bought out by First Union in 1997. Wachovia and First Union merged in 2001, and Wells saved Wachovia from collapse in 2009.
Once, big firms battled other big firms for the best advisory talent. Now, smaller firms are nipping at their heels as well.
The largest brokerage has seen its assets swell, while reps' productivity has soared. Those reps that are not producing? MSSB still plans to do some pruning.
Expedia tripped up travel agents. Mapquest routed map makers. Netflix killed the video stores. Now comes portfolios-to-go. The question: are these prepackaged investment models phenomenon or fad?
Sallie Krawcheck's short list said to include John Thiel; joined the brokerage as an adviser in 1989
The 200 to 300 financial advisers and trainees given their walking papers at Morgan Stanley Smith Barney LLC this quarter probably won't have much trouble finding new jobs, according to industry recruiters.
Assets to the RIA channel have more than tripled over the last ten years, a trend that is 'redefining the way investment advice is delivered'
