Advisors who manage client portfolios can now benchmark themselves against each other, as the firm rolls out a suite of new tools aimed at making investment returns a top priority for clients. That may make some clients happy and some advisors cringe. It may also make the firm a bit safer from legal fallout. ...
Wells Fargo’s wealth management business reported no growth in assets and a slight decline in advisors for the first quarter versus the same time period a year ago. Total client assets in the bank’s wealth, brokerage and retirement division sat at $1.4 trillion, flat versus the first quarter of last year, despite a 6 percent rise in the S&P 500 over that period. ...
Affluence and peace of mind no longer automatically go hand in hand, a new survey sponsored by Wells Fargo & Co. indicates, and the implications are sobering. In a survey of 800 Americans with investable assets of $100,000 and up, 23 percent said they are not confident they will have saved enough for retirement, compared to 75 percent who said they were confident. ...
Distance from the crisis and improved asset flows gave a little kick to advisor satisfaction this year, according to Registered Rep's Broker Report Card. But the ratings are mixed. ...
Far fewer teams are making the jump to independence today, but they may be taking more assets with them. Still, the wirehouse model has its advantages and the indie model faces compliance threats....
Wells Fargo’s wealth brokerage and retirement businesses reported third quarter income of $291 million, up 14 percent versus the year ago quarter, while revenue for the division was down 1 percent from the year ago quarter. Revenues declined on losses in the division’s deferred compensation plan investments as well as lower ARS [auction rate securities] recoveries and transaction revenues. ...
Bob McCann is ready to declare a small victory in the UBS turnaround story, but he's still got a long road ahead. He gives the firm's financial advisors much of the credit....
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