Trust is Sexy AgainApr 1, 2009By Anne Field With the market and Wall Street’s reputations in tatters, clients are fleeing former high-flying financial powerhouses and flocking to banks and trusts - those boring firms of yesteryear... Regionals Buying B/D Branches, It’s All About AIG, BofA’s ReassurancesMar 25, 2009By Kristen French This week, Stifel Nicolaus announced it was buying 55 UBS wealth management branches spread across 24 states, which include $15 billion in assets under management, 320 reps and over $100 million in revenue.... News Roundup: BofA/Merrill Layoffs; SEC Impostors; NYC Benefits Crumble; Madoff Clutches At Assets; AIG CEO Sues….AIGMar 3, 2009By Kristen French The ax began to fall at Bank of America/Merrill Tuesday morning, according to Dealbreaker. The layoffs weren’t expected to begin until tomorrow. Some claim that every business group will be hit. If you find yourself, suddenly, office-less, send us a line. Now, here’s a trick question: Do you know an SEC employee when you talk to one? Don’t count on it. ... Comings & GoingsMar 1, 2009By Halah Touryalai Who’s hiring whom away from where... The Brokers' Man DepartsMar 1, 2009By John Aidan Byrne With veteran Bob McCann’s departure, some Merrill rank and file are concerned Bank of America may undermine Merrill’s culture... Cold Call: Ralph D. SinsheimerMar 1, 2009By Halah Touryalai Ralph D. Sinsheimer, co-founder, Solaris Advisors, New York, N.Y.... Join Up Or Start Up?Mar 1, 2009By John Churchill Typically, RIA start ups outnumber joiners each year, but, as the economic outlook continues to worsen, more breakaway advisors are considering joining established firms. Custodians are happy to play matchmaker... Courting The Little GuyMar 1, 2009By Brooke Southall TD Ameritrade Institutional is shifting its focus back to its core client group of RIAs with $50 million or less in assets. But it has some tough competition from Schwab and Fidelity... Career Moves: The Indie Life...Inside A WirehouseMar 1, 2009By Mindy Diamond Rather than commit to full independence, some wirehouse advisors are opting to carve out a semi-independent model inside a wirehouse... The Mating GameMar 1, 2009By Christina Mucciolo Many small indie b/ds are feeling the margin pinch and have begun to quietly shop themselves around... Morgan, Smith Barney Reps Get Retention Awards, NOT BonusesFeb 23, 2009By Christina Mucciolo On Friday, hours after Wachovia Securities told managers that the firm’s financial advisors would not receive any retention bonus, Smith Barney and Morgan Stanley reps got some good news: Some extra cash is on the way. Top producers at both firms stand to receive as much as 105 percent of trailing twelve month production to stay with the joint firm. That said, the first of two payments won’t be available until 2010. ... No Retention Bonuses For Wachovia Reps; Wachovia Securities To Be RenamedFeb 20, 2009By David A. Geracioti Danny Ludeman, head of Wachovia Securities, told managers earlier today that financial advisors would not receive any retention bonus. He will hold a conference call with financial advisors at 1 p.m. central time, said Wachovia spokesman Tony Mattera. In addition, Wells Fargo will rename Wachovia Securities.... LPL’s New RIA Offering Lookin’ Healthy; But Still A Pipsqueak Compared To RivalsFeb 18, 2009By Halah Touryalai There are some folks in the industry actually doing relatively well these days. Seriously. LPL Financial said today its new-ish RIA platform now has over $1 billion in new assets. ... News Roundup: $8 Billion Fraud, Market Tests Lows And Michael Moore "Investigating" Wall StreetFeb 17, 2009By John Churchill Just as the various stock indices were testing November lows, the SEC announced what appears to be another mini-Madoff: Robert Allen Stanford and three of his financial companies have been charged with orchestrating an $8 billion fraud. ... Round Up: The Post-Congressional Roasting Scuttlebutt Deems House Committee A Rather Pointless Public FloggingFeb 12, 2009By Christina Mucciolo In the 18th century there might have been a public flogging or a stint in the town square's pillory, but would the pre-credit-crunch world have condemned Wall Street leaders and members of Congress to the gallows? ... At the Break: Congressional CEO Smackdown Provides Some Entertaining Tantrums, Some Embarrassment, Mostly Bloviating RepresentativesFeb 11, 2009By John Churchill The House Financial Services Committee staged a bit of theater today for the benefit of U.S. taxpayers. ... Thank You Sir, May I Have Another?! Watch, Live, Wall Street CEOs Explain TARP Use To House CommitteeFeb 11, 2009By John Churchill The House Financial Services Committee is giving Wall Street CEOs a chance to explain to U.S. taxpayers what they are doing with TARP funds. ... UBS Earning Get Kicked In The ARS! U.S. Wealth Mgt Unit Profit Wiped Out By ARSFeb 10, 2009By John Churchill UBS announced a fourth quarter loss of U.S. $7.5 billion today, capping a horrendous year for the Swiss firm. ... In First Media Interview, McCann Says Resignation Was At A "Logical Time"Feb 10, 2009By Brooke Southall Merrill Lynch has been on a wild roller coaster ride since Bank of America stepped in to save the franchise on September 15 with an all-stock offer worth $50 billion.... TD Regains Swagger In VegasFeb 6, 2009By Brooke Southall TD Ameritrade Institutional executives, in Las Vegas for the firm's annual conference, have got their swagger back this year after spending last year's event sounding contrite.... Wachovia-UBS Hookup Rumored but UnlikelyFeb 3, 2009By John Churchill Here’s a possible new twist in the changing financial services landscape: A report in the New York Post raises the possibility of a “joint venture” between the wealth management divisions of Wachovia Securities and UBS. A lot of questions need answering before this one pans out. ... EJ Employees Are Lovin’ ItFeb 3, 2009By Christina Mucciolo Edward Jones is having an awfully good run, according to the firm’s fan base, er, its employees. ... BofA's Lewis In Dissidents' SightsFeb 2, 2009By Kristen French Just months ago, he was heralded as banker of the year by American Banker for his deal to acquire Merrill Lynch. ... Schwab To RIAs: Expect Strong Service Despite SlowdownFeb 2, 2009By Brooke Southall Schwab's CEO, said all the things that registered investment advisors would want to hear from their asset custodian chief on Thursday during an earnings call with analysts. ... 60 Seconds: Eric SchwartzFeb 1, 2009Christina Mucciolo Eric Schwartz, CEO of independent b/d Cambridge Investment Research and chair of the Financial Services Institute board.... Fired Up About FeesFeb 1, 2009Christina Mucciolo For the past half-decade or more, financial advisors have been shifting from commissions to fees as they seek steadier revenue flows, pursue greater flexibility... Cold Call: Meg GreenFeb 1, 2009Halah Touryalai Meg Green, CFP, Meg Green & Associates, North Miami Beach, Fla.... Trust MeFeb 1, 2009By John Churchill If electronic-trading pioneer and philanthropist Bernard Madoff was such a convincing fraud, how can your clients trust you? You’re all potential Madoffs now.... The RIA Stealth MachineFeb 1, 2009By Brooke Southall State Street has been quietly growing for almost a decade, and it’s now number three in the custody business. Schwab and Fidelity had better watch out.... Short Selling Made EasyFeb 1, 2009By Stan Luxenberg Hedging with ETFs.... Fix My Business: Niche BusinessFeb 1, 2009By Anne Field How can a rookie build a thriving practice around artists and non-profits? ... Wealth Management Guru: Home Sweet HomeFeb 1, 2009By Kevin McKinley Making the most of clients’ residential real estate for tax savings.... Editor’s Letter: Who Knew? Lots Of PeopleFeb 1, 2009David A. Geracioti Editor-In-Chief When you read the 2005 Markopolos letter to the SEC, which warned the regulator about Bernard Madoff, what jumps out at you is how many professionals on Wall Street were actually suspicious of Madoff's business. ... Morgan Stanley's New ArmyFeb 1, 2009By Halah Touryalai James Gorman now controls the biggest brokerage force in the U.S. What will he do with it?... GurusFeb 1, 2009By David A. Geracioti Note to President Obama: Learn from FDR’s mistakes. A conversation with author Amity Shlaes, author of The Forgotten Man, a narrative about how the New Deal actually inhibited economic recovery.... |
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Got the Social Media Spins? Help Is On The Way
A bunch of social media services have emerged to help financial services firms comply with regulations and make the most of social networks to build business. They've got big plans for 2012.
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