EJ Employees Are Lovin’ It 

Feb 3, 2009,

By 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' Sights 

Feb 2, 2009,

By 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 Slowdown 

Feb 2, 2009,

By 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. ...

Fired Up About Fees 

Feb 1, 2009,

Christina 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 Green 

Feb 1, 2009,

Halah Touryalai

Meg Green, CFP, Meg Green & Associates, North Miami Beach, Fla....

Trust Me  

Feb 1, 2009,

By 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 Machine 

Feb 1, 2009,

By 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 Easy 

Feb 1, 2009,

By Stan Luxenberg

Hedging with ETFs....

Fix My Business: Niche Business 

Feb 1, 2009,

By Anne Field

How can a rookie build a thriving practice around artists and non-profits? ...

Wealth Management Guru: Home Sweet Home 

Feb 1, 2009,

By Kevin McKinley

Making the most of clients’ residential real estate for tax savings....

Morgan Stanley's New Army 

Feb 1, 2009,

By Halah Touryalai

James Gorman now controls the biggest brokerage force in the U.S. What will he do with it?...

Editor’s Letter: Who Knew? Lots Of People 

Feb 1, 2009,

David 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. ...

Gurus 

Feb 1, 2009,

By 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....

Citigroup's Legacy 

Feb 1, 2009,

Christina Mucciolo

Here's something that may get Smith Barney advisors' blood boiling: Former CEO and Chairman Sandy Weill is still enjoying his 10-year employment agreement...

Bottom-Feeding REITs 

Feb 1, 2009,

By Jennifer Popovec

Investing in non-traded REITs that are raising money to buy (discounted) properties may offer substantial total returns five to seven years hence...

Comings & Goings 

Feb 1, 2009

Fidelity named Peter Cieszkoas as president of Fidelity Investments Institutional Services Company. Cieszkoas was formerly president and chief executive...

The Stock Doc: New Year, New Habits 

Feb 1, 2009,

By Dr. Alden Cass

It was yet another cold and rainy January morning in New York City and the NYSE's morning bell would not be rung for another hour. I sat in my office...

Career Moves: What’s In A Move? 

Feb 1, 2009,

By Mindy Diamond

Sure, money is a big part of it. But consider all of the subjective factors, too....

60 Seconds: Eric Schwartz 

Feb 1, 2009,

Christina Mucciolo

Eric Schwartz, CEO of independent b/d Cambridge Investment Research and chair of the Financial Services Institute board....

Merrill Cuts Trainees 

Jan 28, 2009,

By Halah Touryalai

Let the penny pinching commence! ...

Merrill Chief Sontag Vows “To Restore Pride”; Brokers Ask, Hey, Sontag, Where Is My Bonus and Junket? 

Jan 28, 2009,

By John Aidan Byrne

Daniel C. Sontag, chief of Bank of America’s newly-acquired wealth management division (i.e. Merrill Lynch), fielded some tough questions Monday from miffed Merrill Lynch financial advisors. ...

New Head, But Same Old Mission For Merrill's Retail 

Jan 26, 2009,

By John Aidan Byrne

Bank of America named general counsel Brian Moynihan, an executive well versed in legal and business principles, to replace John Thain. ...

Thain Departs BofA—An $87,000 Rug? Say It Ain't So, John! Client AUMs Fall By 30 Percent In 2008 

Jan 22, 2009,

By John Churchill

John Thain, former CEO of Merrill Lynch and the man who engineered the sales of the storied Wall Street firm to Bank of America in September, is leaving the combined firm "immediately," according to a report from CNBC. ...

Dropping Client Assets And Jet Fleets 

Jan 21, 2009,

By Christina Mucciolo

Citigroup, which reported a whopping $8.29 billion fourth-quarter loss on Friday, should take a harder look at its balance sheet. ...

Citi's Global Wealth Mgt Unit: Retail Clients Flee; Merrill Drags Down 

Jan 16, 2009,

By John Churchill

Everybody knows that Citigroup announced yesterday it was putting itself out of its misery. ...

Are We Mostly Crooks? High-Flying Fraudster (Literally) Equals More Bad Publicity For Financial Advisory Profession 

Jan 14, 2009,

By John Churchill

Marcus Schrenker is no Bernie Madoff, that's true. ...

Citi, Morgan Stanley Agree To Form Joint Venture; Reps Will Receive Retention Bonus—Gorman Says: “We’re Not Stupid” 

Jan 13, 2009,

By David Geracioti

It’s official: Morgan Stanley will pay $2.7 billion to acquire a 51 percent stake in Smith Barney, Morgan Stanley and Citigroup management told Registered Rep. this afternoon. The agreement was signed today. The deal will close in about six months, says Morgan Stanley Co-President James Gorman. ...

Citi Grabs a Lifeline, Morgan Stages a Coup 

Jan 12, 2009,

By Halah Touryalai

Despite a $45 billion capital injection from the government in 2008, Citi is in dire enough need of capital that it is planning to spin off its retail brokerage operation, Smith Barney, according to reports, in a joint venture with cross-town rival Morgan Stanley. At least one analyst says Citi also hopes the deal will save Smith Barney, where disgruntled advisors and clients are said to be exiting. ...

Citi: What Sandy Built, Pandit Will Dismantle? 

Jan 9, 2009,

By David Geracioti, and staff

So much for Citi CEO Vikram Pandit’s endorsement of the universal banking model. ...

Motion To Dismiss In Arbitration? Not So Fast. 

Jan 8, 2009,

By Halah Touryalai

Firms and advisors facing disputes in arbitration will have a tougher time getting the case dismissed thanks to a new dispute resolution rule, FINRA announced today....

Sontag Takes McCann’s Job At Merrill 

Jan 6, 2009,

By John Churchill

Dan Sontag has replaced Robert McCann as head of Merrill Lynch’s brokerage unit. ...

Merrill’s McCann Clashed With Thain 

Jan 6, 2009,

By John Aidan Byrne

On Monday, Bob McCann, a popular Merrill veteran who led the firm’s 16,850-person “thundering herd” of brokers, resigned. ...

Calling All Outstanding Advisors 

Jan 6, 2009,

By David A. Geracioti

We present our annual Outstanding Advisor Awards each May, but we’re always on the lookout for charitably inclined financial advisors. ...

Great Expectations, Disappointing Realities 

Jan 1, 2009,

By John Churchill

Booming stock markets in the last five years saw many RIA firms sell a portion of their future cash flows in return for cash and stock in the acquiring firm. But as the stock market collapses, many RIAs who sold stakes to “roll-up” firms are scrambling to pay quarterly preferred disbursements....

Knock, Knock. Who's There? An Elated Edward Jones Advisor. 

Jan 1, 2009,

By Christina Mucciolo

Jones advisors are happy—very happy. What’s with those guys anyway?...