Dec 8, 2010
By Philip Palaveev
If the cobbler’s kids run around barefoot, the financial advisor’s kids may be a little nervous about their college funds right now. A surprising number of financial advisors are not prepared financially for a year that likely will bring significant declines in revenue and therefore personal income. ...
Dec 6, 2010
By Charles Paikert
HighTower Advisors, the fast-growing and well-funded Chicago-based advisory firm, has raised its profile again, hiring top recruiting executives from Charles Schwab and LPL Financial as it plans to open six new offices by April 2011....
Dec 3, 2010
By Kristen French
Despite rampant speculation to the contrary, the SEC is not planning to write any new rules on broker recruiting bonuses, SEC spokesman John Nester told Registered Rep. magazine on Friday. At least one firm was already using the threat that recruiting bonuses would go away to pressure potential recruits to sign on with the firm by Dec. 31....
Dec 2, 2010
By Susan Konig
Late this afternoon, two advisors from UBS’ downtown Houston branch, David Harris and Ann Deaton—principals of Harris Financial Group—resigned from the firm to join their former UBS branch office manager, Patrick Mendenhall, at Houston-based U.S. Capital Advisors (USCA), the wealth management advisory firm he formed in September, according to Rick Peterson, who heads Houston-based recruiting firm Rick Peterson & Associates....
Dec 1, 2010
By Kristen French
Merrill Lynch released a new broker recruiting deal last month with two major changes. First, Merrill made it much harder for recruits to leave the firm:...
Dec 1, 2010
By Diana Britton
The Financial Planning Association has appointed Paul Auslander as its 2011 president-elect, succeeding 2011 President Martin Kurtz. Auslander, who will...
Dec 1, 2010
By John Aidan Byrne
Barclays is remaking the old Lehman Brothers and hiring aggressively to become a major player in the U.S. high-net-worth market just as its rivals struggle to get back on their feet....
Dec 1, 2010
By Jerry Gleeson
The major full-service brokerage houses are in various stages of recovery, whether from the financial crisis or merger integration. How are they doing? Check out our 20th Annual Broker Report Cards....
Dec 1, 2010
By David A. Geracioti
Joe Triarsi, managing director and head of J.P. Morgan's Broker Dealer Services business (www.jpmorgan.com/bds), board member of J.P. Morgan Clearing Corp. and member...
Dec 1, 2010
By Mindy Diamond
The deals being offered by the wirehouses make it harder for an advisor to choose independence....
Nov 26, 2010
By Charles Paikert
RIAs have been busy getting hitched in 2010. The number of mergers and acquisitions completed in the registered investment advisor business through the third quarter of this year is near full-year totals for 2009, according to data from Schwab Advisor Services....
Nov 22, 2010
By Charles Paikert
Getting rid of smaller accounts could mean more production for advisors, according to a new study from PriceMetrix, a Toronto-based solutions provider for retail wealth managers....
Nov 17, 2010
By Matt Oechsli
I am a BIG fan of Lincoln. I’ve read every book about this great man I could lay my hands on, and each time I’m humbled and learn more about myself. I’m also a big fan of Thanksgiving. Lincoln’s Thanksgiving Proclamation should be required reading by every American every Thanksgiving. ...
Nov 15, 2010
By Diana Britton
At a time when recruitment activity in the independent broker/dealer channel has slowed, Capital Guardian Wealth Management, a hybrid firm, is undergoing a major growth initiative, with plans to add 15 advisors by year-end as well as several independent and branch offices around the country. It intends to triple in size in a few years. ...
Nov 15, 2010
By Jodie Papike
Do you know what’s covered in your Errors and Omissions insurance plan? Digging into the details and fine print of your plan is crucial to making sure you have the protection you need, especially if you are transitioning to a new broker/dealer. ...
Nov 9, 2010
By Kristen French
UBS hired three financial advisors with $2.1 billion in client assets away from Morgan Stanley Smith Barney. They will work out of UBS' Los Angeles office. ...
Nov 8, 2010
By Kristen French
Merrill Lynch released a new broker recruiting deal a few weeks ago—with two major changes. First, a new hire must now stick around for 14 years instead of nine to get his entire recruiting bonus, and all of the back-end money is now deferred. Second, the firm is now offering recruiting bonuses to fourth quintile advisors....
Nov 2, 2010
By Kristen French
Like many large Wall Street broker/dealers before it, RBC is sending a message to advisors who are generating below average revenue: Get your numbers up or take a walk. ...
Nov 1, 2010
By Charles Paikert
M&T Bank Corp. emerged as a major player in the wealth management business this week following the Buffalo-based bank’s agreement to buy Wilmington Trust Corporation for $351 million in stock....
Nov 1, 2010
By Vic Preisser
The heirs of wealthy clients fire their parents' financial advisors 70 percent of the time. Prepare heirs and not just estates. ...
Nov 1, 2010
A Rep. ThinkTank study highlights IBD dynamism....
Nov 1, 2010
By Anne Field
William spiropoulos wants to expand his business by adding on wirehouse advisors, but he's having a hard time finding ones who are a good fit....
Nov 1, 2010
By Susan Konig
Shuster Wealth Management Group, affiliated with Wells Fargo Advisors, Melville, NY....
Nov 1, 2010
By Kristen French
Last year was a record recruiting year for some independent broker/dealer firms, as big name financial services firms shed hordes of financial advisors. But that exodus is over, and this year, recruiting is way down. Over the long haul, hiring new talent ...
Nov 1, 2010
By Jerry Gleeson
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Nov 1, 2010
By Mindy Diamond
Some say moving does not pay off. I have to differ....
Nov 1, 2010
By Kristen French
Q&A with CEOs of Cetera and AIG Advisor Network....
Nov 1, 2010
Despite what was billed by some as a perfect storm for IBD recruiting in 2009, total headcount in the channel rose less than 1 percent. ...
Nov 1, 2010
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Oct 25, 2010
By Charles Paikert
In an effort to attract more financial advisors who have--or would like to have--ultra-high net worth clients, Fidelity Investments is offering them the same high-end services it offers to family offices. ...
Oct 18, 2010
Do you want to know how your firm stacks up against others in the industry? How other investment professionals rate their brokerage firms? Fill out Registered Rep.’s Brokerage Report Card confidential survey, and you’ll get an answer! Last few days to participate!...
Oct 15, 2010
By Charles Paikert
Schwab Advisor Services' results suggest the great diaspora of breakaway brokers to Independence Land—either independent b/ds or RIAs—may have climaxed....
Oct 15, 2010
By Jerry Gleeson
James Gorman and Sallie Krawcheck said it would be so. With markets stabilizing and bank-brokerage merger integrations progressing, fewer brokers are fleeing the big Wall Street wirehouse firms for the RIAs and independent b/ds in 2010. But those who are leaving tend to have more assets to drag with them. ...
Oct 14, 2010
By Kristen French
Two former Merrill brokers won $1.167 million in an arbitration award from Merrill Lynch for deferred compensation benefits that were supposed to vest if they left for “Good Reason” following a change of ownership at the firm. It's the first case nationally of its kind for Merrill brokers. ...
Oct 13, 2010
By Charles Paikert
Once the Securities and Exchange Commission officially defines the term “family office” (and it took the first step in that direction yesterday, 12 Oct.), the floodgates may open for registered investment advisors to capture a chunk of that heretofore mysterious market’s assets....
