Online brokerages including E*Trade and TD Ameritrade are favored the most among online traders for their risk management scope, according to a recent study from Phoenix Marketing International.
Wirehouse firms that have recently merged are going to earn back lost assets by using client referral programs, Aite Group warns.
Edward Jones and LPL Financial Services have snagged top honors in J.D. Power and Associates’ investor satisfaction survey of full-service brokerages.
Pershing is nearing the close of its beta phase of NetX360, its technology platform for brokers and registered investment advisors.
Aite Group plans to hire a handful of analysts for its expanded Retail Securities & Investments practice.
More brokers and financial advisors may move toward fee-based models if they are held to a fiduciary standard, lawyers and analysts predict.
RBC Wealth Management is advising its high-net-worth clients to invest in Asian equities because they are well placed to recover from the sub-prime crisis before the rest of the world, said Peter Lucas, investment strategist.
National Financial, a Fidelity Investments division offering integrated brokerage capabilities, is eyeing collaborations with other broker service platforms to strengthen its Streetscape brokerage workstation.
Merrill Lynch has lowered its recruitment package by 10% for producers that bring in less than $1 million in production.
Morgan Stanley Smith Barney has just launched the Women Financial Advisors Forum blog to recruit potential hires.
Financial advisors are getting more certifications and more education compared to past years, according to a recent survey.
Neuralus, a money management software company, is integrating several solutions into its platform to speed up and integrate access to client portfolios.
Solamere Advisors, a new Charlotte-based wealth management firm co-founded by Mitt Romney’s son Tagg Romney, is banking on third party partnerships to lure clients.
Standard & Poor’s will add a bond portal to its S&P MarketScope Advisor platform in order to be more competitive with other ratings firms like Morningstar and to provide advisors with a more complete research package.
Regulatory reform has become the top concern among registered investment advisors, replacing business growth, according to a recent survey from TD Ameritrade.
More individuals are turning to online brokerages and going the self-service wealth management route, according to a recent Novarica report.
Wirehouse firms including Merrill Lynch, Wachovia, UBS and Smith Barney have the most efficient financial statements out of a group of 20 that includes wirehouses and online brokerage firms, according to an annual survey by Corporate Insight.
Harris Private Bank, a financial services subsidiary of BMO Financial Group, is hiring advisors and portfolio managers across its seven offices in the U.S.
Fulcrum Securities, a St. Louis-based regional brokerage and advisory firm, will be opening an office in Chicago by the end of year as well as other locations in the Midwest and Northeast within a year from now, according to Suzanne Harvey, managing director.
Wall Street Access, a New York-based brokerage boutique, is expanding with new offices in Boston and San Francisco.
Planning Alternatives, based in Bloomfield Hills, Mich., and Southfield, Mich.-based Oakland Wealth Management have merged, creating an investment advisory with $375 million under management.
It will take about two years for Morgan Stanley and Smith Barney to integrate their technology systems, but brokers aren’t complaining.
The National Association of Personal Financial Advisors is increasing its advisor education on the heels of the Securities and Exchange Commission charging NAPFA’s former president James Putnam, and other former members, with running an investment scheme.
Deutsche Bank Private Bank has landed a top team from Citi Private Bank. Joanne Jensen, Jennifer Shaw, and Matt Brogan, all of whom manage a $3 billion book of business, have left Citi to join Deutsche in New York.
Wells Fargo plans to release a new set of advertisements on television, radio and Internet channels later this month to promote its recent merger with Wachovia Securities.
Merrill Lynch is actively hiring broker trainees and Practice Management Development (PMD) leaders nationally, according to an employee at the firm.
Dan Sontag, head of Merrill Lynch’s global wealth and investment management unit, dispelled reported rumors that he was leaving the firm at a Thursday town hall meeting in Hong Kong, according to an employee at the firm.
Silver Bridge Advisors, a Boston-based independent wealth advisory boutique, is selectively hiring advisors.
Baird Private Wealth Management is expanding its Green Bay, Wis., office and has brought on the two advisory teams, the Darling Kinziger Group and the Puissant Wiers Group.
Wayne Chrebet, former New York Jets wide receiver and National Football League veteran, has made a plunge into the wealth management industry by joining Morgan Stanley's Global Wealth Management unit in the firm's Red Bank, N.J., office.
At least seven institutional broker-dealers will be acquiring Cogent Consulting to improve their client sharing arrangement management systems.
Janney Montgomery Scott has cut its regions to three from four in an attempt to streamline its operations as it focuses more on higher-net-worth clients.
Wells Fargo has split up its regional wealth management command between Robert Storey, a 15-year Wachovia Securities veteran, and Erik Davidson, the former senior director of investments for Wells Fargo.
Wells Fargo Wealth Management Group has tapped several key Wachovia executives for its private bank following integration.
Salient Wealth Management and Friedman & Associates, two high-net-worth focused independent brokerages in the San Francisco Bay area, have merged to become one of the largest wealth management firms in the North Bay.
Advisors at firms such as Raymond James and Janney Montgomery Scott are increasingly offering exchange-traded funds to their clients.
Wellspring Financial Advisors, a Cleveland-based independent wealth management firm, is expanding its high-net-worth services on the heels of hiring Hedy Demsey, previously senior managing director of Paragon Advisors, as director to lead the expansion.
Morgan Stanley Smith Barney named its regional directors and the branch managers working under them in an internal memo from Andy Saperstein, head of national sales for Morgan, and the future head of U.S. wealth management for the firm
KBK Wealth Management, a New-York based independent investment managing firm targeting high-net-worth clients, plans to double its staff of advisors by the end of the year.
Janney Montgomery Scott is seeking to expand its business with more office locations and adding 30-50 brokers by the end of the year.
Two former Stanford Financial advisors have joined Avondale Partners, an independent Nashville, Tenn.-based investment bank, to help launch a private client group aimed at recruiting high-net worth clients.
Weaver Tidwell Wealth Management, a fee-based registered investment adviser, is aiming to expand in the high-net worth market.
UBS Wealth Management has started cutting brokers in the bottom production quintile.
Merrill Lynch are getting access to Banc of America’s investment offerings.
The Chicago Investment Group is planning to hire financial advisors with high-net-worth experience to bolster its presence in the market.
Morgan Stanley Smith Barney will split up its regional wealth management command between two veteran Morgan Stanley directors and two veteran Smith Barney directors.
UBS Wealth Management is halving its regional coverage from eight down to four and cutting brokers, managers and sales employees, according to UBS brokers.
The Options Industry Council has retooled its options education program to assist advisors in understanding how options can help their clients.
Wells Fargo Wealth Management Group has appointed Stan Gregor, former president of Wealth Markets for Wachovia Wealth Management, to the new post of head of the Eastern markets.
Wells Fargo Wealth Management Group, headed by Jay Welker, has let go of roughly 40 private bankers and wealth advisors in Northern California and has eliminated their posts, according to two executives close to the situation.
Maxim Group, a New York-based investment banking boutique, is expanding its wealth management platform with broker and analyst hires as well as new research coverage.
In the wake of the bulge bracket firms’ losses, mid-tier firms like Raymond James and Janney Montgomery Scott are hiring advisors and luring customers that typically wouldn’t have considered a regional a year ago.
UBS is rolling out a private foundation services program, in partnership with Foundation Source, to provide a simpler way for clients to manage their private foundations.
Smith Barney and Morgan Stanley have begun offering town hall style meetings for their brokers for the last two weeks in an effort to allay broker concerns about the impact of the merger between the two firms.
Blocking technology on the Smith Barney website is preventing some recruiters from accessing the broker database, sparking suspicions that the firm is preventing its brokers from getting poached.
Oppenheimer & Co. is expanding in the Southeast with four new branches and the addition of 80-100 former Stanford Group Company financial advisors.