Feb 10, 2012
By Jerry Gleeson
The partners at Merrill Lynch’s Beirne Wealth Management Group in Milford, Conn. had talked off and on over the years about leaving the wirehouse, John Beirne Jr. told me, but it took a new sales policy from the company headquarters last April to push the practice out the door....
Feb 10, 2012
By David A. Geracioti, Editor-in-Chief
Last week I attended the TD Ameritrade Institutional Annual Conference and was treated to a rousing, animated lecture by Prof. Jeremy Siegel of Wharton and WisdomTree ETF family. ...
Feb 10, 2012
By Diana Britton
Family ties run deep, to a certain point. I recently came across a Supreme Court filing against Raymond James Financial Services and Dwight Wanken, a branch manager, that exemplifies the dangers of the family business....
Feb 10, 2012
By Sean Cunniff
Benjamin Franklin once said, “It takes many good deeds to build a good reputation, and only one bad one to lose it.”...
Feb 10, 2012
By Kristen French
What does energy have to do with money? Aside from your monthly electric bill, or the Exxon or PetroChina stocks you may have in your investment portfolio, you might think, not a whole lot. But Chicago wealth manager Julie Murphy Casserly would disagree....
Feb 10, 2012
By Mark Miller
The spoils of the 401(k) market have always gone to the large players – big retirement plan providers providing the best, most efficient plans to big plan sponsors. But small is starting to look beautiful....
Feb 9, 2012
By Jerry Gleeson
Last year’s market volatility apparently didn’t discourage retirement savers from sticking to their plans, but it didn’t encourage more frugality either....
Feb 9, 2012
By David A. Geracioti, Editor-in-Chief
The Occupy Wall Street movement may be on a winter hiatus, but not in The Nation — one of America’s oldest continuously published magazines. In its Feb. 13th edition, The Nation features a story by a former Marine and failed Merrill Lynch advisor who hammers, brutalizes, really, our country’s financial system....
Feb 9, 2012
By Stephen Boswell and Kevin Nichols
Fort Lauderdale: "You make it sound easy," moaned Bill. "When asked, I should be able to easily tell someone what I do, especially an affluent prospect. Heck, I've been through all the training and I’m on a big team."...
Feb 8, 2012
By Diana Britton
Lincoln Investment Planning, an independent broker/dealer in Philadelphia, announced it will acquire independent broker-dealer Capital Analysts from insurance firm Western & Southern Financial Group. ...
Feb 8, 2012
By Charles Paikert
In post-recession America, greed is out. Clients are more open to thinking about values along with profits. So it’s not a surprise that so-called “socially responsible investing (SRI)” funds have grown at a faster rate than assets in the broader market, according to the latest study by the Social Investment Forum. ...
Feb 7, 2012
By Diana Britton
While other firms suffered in the fourth quarter on slow client activity, LPL Financial (Nasdaq: LPLA) announced earnings today of $39.4 million for the quarter, up $156 million from a net loss of $116.6 million in the fourth quarter 2010....
Feb 7, 2012
By John Aidan Byrne
Despite global market conditions that lowered asset-based fees and transaction-based income, UBS Wealth Management Americas ended 2011 on firmer footing, earning $573 million for the year on revenues of $5.96 billion....
Feb 7, 2012
By Kristen French
As fee-based accounts grow, financial advisors are getting more involved in picking investments. It may seem counter-intuitive, but this gives them more time to bring in new clients and build relationships....
Feb 7, 2012
By Diana Britton
Sure, we’ve all heard about the benefits of managed futures, i.e. their supposed ability to generate returns in periods of crisis. Jon Sundt, president and CEO of Altegris, referred to it as “crisis alpha,” during the Managed Futures Forum held today in New York. ...
Feb 7, 2012
By Diana Britton
New rules on state registration, Form ADV and charges for audits have plenty of smaller dually registered reps rethinking the hybrid advisor model. ...
Feb 7, 2012
By Editor-in-Chief, David A. Geracioti
Just two days after the close of iTD Ameritrade Institutional’s annual gabfest, Tom Bradley, the president of the institutional unit, was named head of TD Ameritrade Holdings’ (Ticker: AMTD) retail distribution unit. Succeeding him will be Tom Nally. ...
Feb 7, 2012
By Jerry Gleeson
A Morgan Stanley Smith Barney team led by Larry King in Saratoga Springs, N.Y. left the wirehouse and started an independent registered investment advisor, King Wealth Management Group. ...
Feb 6, 2012
By Editor-in-Chief, David A. Geracioti
But watch out for that pesky volatility that scarred clients last August and pushed many to the sidelines, according to FAs I spoke to at the Conference ended yesterday (after a concert Friday night performed by none other than Kool and the Gang). ...
Feb 3, 2012
By Kristen French
For Morgan Stanley, doling out IPO shares to clients was a discreet but formulaic business. But with the integration of Smith Barney and an iconoclastic Facebook founder calling the shots, this time may be different....
Feb 3, 2012
By Lynn O'Shaughnessy
Too many students apply to schools that are way out of their league academically and financially. It's a wasted effort....
Feb 3, 2012
By Diana Britton
The classic car market has long been dominated by old dudes looking to reminisce about the past (OK, not always), but a new index suggests classic cars could now be a legitimate investment, better, in fact, than gold. ...
Feb 2, 2012
By Diana Britton
Ameriprise Financial’s (NYSE: AMP) fourth quarter 2011 net income dropped about 22 percent to $240 million from $306 million a year ago. The company attributed the fall to volatile markets, increased cash positions, and continued low interest rates. ...
Feb 2, 2012
By Lauren Barack
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. ...
Feb 2, 2012
By Matt Oechsli
Detroit—“We’re in a growth mode, but I know we’re not close to reaching out potential,” Chris explained to me while his partner Dan shifted uncomfortably in his seat. “I think we need to reassess our entire operation, especially our junior advisors.” ...
