The man who led the overtime wage battle against wirehouses (and won millions for reps) is now making the argument against the largest independent broker/dealer in the nation, LPL....
Though 2009 comp was way off from 2008, on average, financial advisors' compensation has, for the most part, returned to pre-crash levels. Expectations are high for a resumption of growth for 2010....
If you got a retention package after a recent bank merger, you may want to stay put so you can take advantage of it. But make sure your clients are happy before you spend that money....
If you worked as a financial advisor last year, you are well aware that securities industry compensation was one of the many victims of the financial collapse. But new data from David Belkin, senior economist at the nonpartisan New York City Independent Budget Office, suggests that a more game-changing dynamic was at work, at least as far as securities companies based in New York City are concerned....
As one advisor puts it, “[The private equity firms] didn’t invest in LPL to hang out. It was a business decision and they’re ready to monetize their investment.” The PE firms’ 2005 investment valued LPL at $2.5 billion, or 2.5x gross revenue—a multiple analysts said was the highest ever for an independent b/d/. ...
Woodbury Financial Services, a subsidiary of The Hartford Financial Services Group, hired Albert Johnson as chief compliance officer of broker/dealer...
Broker/dealer firms eat away at their advisors' take-home pay with little fees on nearly every product and service. Sometimes the slices they take aren't very transparent....
Story updated at 4:21 p.m. The future of Sallie Krawcheck, head of Merrill Lynch’s thundering herd of retail financial advisors, is suddenly the subject of much speculation. ...
BOMs are increasingly considered a cost of goods sold on the P&L statement. Consolidation is forcing them out of the business, or, if they are lucky, they are being pushed back into production. Or they can take a pay cut....
A growing number of websites is offering consumers tools for budgeting, goal planning, and investment trading. A few of these personal financial management (PFM) sites are drawing big numbers of clients. ...
This year Registered Rep. celebrates its 30th annual Outstanding Advisor Awards. Our winners are as highly dedicated to their philanthropic projects as they are helping people with their personal financial lives. Most of them give extensively both of their time and their money to causes they care about. ...
Edward Jones, now about 90 years old, “has prospered by dispensing buy-and-hold wisdom to small clients in small places.” That’s how we put it on our April 2006 cover story on the firm. But now Edward Jones is doing something very modern and very Wall Street: Like other firms, Jones is lighting a fire under its advisors’ feet to increase production. ...
Mergers and acquisitions seem to be crawling back to the top of RIA principals’ to-do lists this year, as the first quarter’s numbers show record activity. What is your financial advisory practice worth?...
Get the latest from Registered Rep. Editor-in-Chief David A. Geracioti on his blog Von Aldo.
Get the latest from Registered Rep. Managing Editor Kristen French on her blog The Reformation.
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Under reform legislation, RIAs with less than $100 million in assets will no longer be regulated by the SEC. State regulators will step in. Will states be more successful than the SEC?
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