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Registered Rep.
July 26, 2011
John Aidan Byrne
Online Brokerages Still Grabbing Market Share From Wirehouses Online brokerages continue to take market share from the wirehouses, according to a new report. mark for My Articles similar articles
Registered Rep.
April 7, 2011
John Aidan Byrne
Report : Wealth Management Firms To Jack Up CRM Spend Wealth management firms are expected to invest heavily in customer relationship management technology over the next three years, according to a new report from Aite Group. mark for My Articles similar articles
Registered Rep.
November 29, 2011
John Aidan Byrne
UBS: Going Mobile with an FA App Financial advisors at UBS Wealth Management Americas are about to go more mobile - in a far-reaching pilot program that enables them to use an extensive array of UBS tools and other applications. mark for My Articles similar articles
Registered Rep.
November 30, 2010
John Aidan Byrne
Report: Merrill Edge Threatens Online and Regional Brokers, Not Its Own FAs A new report by research firm Aite Group this week, sees Bank of America Merrill Lynch's recently expanded online brokerage business -- as a serious challenge to the online business of powerhouses such as Charles Schwab and Fidelity Investments. mark for My Articles similar articles
Registered Rep.
November 4, 2011
John Aidan Byrne
Rep-as-Portfolio Manager Programs Taking Off Despite the compliance hurdles, more than one third of financial advisors see direct handling of clients' assets by FAs acting as their portfolio managers clearly outpacing other fee-based management styles in the next three years. mark for My Articles similar articles
Registered Rep.
June 1, 2010
John Aidan Byrne
Bank of America Ramps Up Online Brokerage Bank of America is making a push into electronic brokerage services, a menu that includes free online trading and a new platform called Merrill Edge, set to debut in late June. Some say the new services will steal business from Merrill advisors. mark for My Articles similar articles
Registered Rep.
June 6, 2011
John Aidan Byrne
Wall Street Brokerages Set For More Advisor Defections? Switching for big signing bonuses spiked during the recent financial crisis when Wall Street's biggest brokerages merged or were acquired. But it died down a bit after Merrill Lynch and Morgan Stanley offered their financial advisors retention packages. mark for My Articles similar articles
Registered Rep.
August 26, 2010
John Aidan Byrne
Neck And Neck, Morgan and Merrill On Hiring Sprees Both firms say they plan to add net financial advisors in 2010, adding to stated plans to sign up 2,000 trainees each this year. mark for My Articles similar articles
Registered Rep.
November 4, 2011
Kristen French
Indie Exodus: Overhyped? In 2009, in the wake of arguably one of the biggest financial crises this country has seen since the Great Depression, over 3,000 financial advisors left Merrill Lynch, UBS, Morgan Stanley and Wells Fargo to start life over at an independent broker/dealer or RIA firm. mark for My Articles similar articles
Registered Rep.
August 6, 2010
John Aidan Byrne
UBS Advisors Welcome Mortgage Rollout Financial advisors at UBS Wealth Management Americas closely watched this week as the U.S. brokerage rolled out plans to sell more of its own mortgage and lending products through its retail brokerage force. mark for My Articles similar articles
Registered Rep.
January 28, 2011
John Aidan Byrne
Banks Losing Mass Affluent To Online Brokerages U.S. and Canadian banks say developing mass affluent wealth management business is a top priority, but they're not doing enough about it. mark for My Articles similar articles
Registered Rep.
April 26, 2011
John Aidan Byrne
UBS Wealth Management Unit Improves Performance UBS Wealth Management Americas, rising from the ashes of its well-publicized disasters, had something to crow about this latest quarter (Q1 2011) mark for My Articles similar articles
Registered Rep.
June 10, 2010
John Aidan Byrne
UBS Ran Gauntlet, Beats Merrill, Says Bob Mulholland "We are really the only major relevant firm that actually went into the 2008 and 2009 abyss and came out the same firm," Mulholland told Registered Rep. mark for My Articles similar articles
Registered Rep.
October 10, 2008
John Churchill
McCann: Merrill Managers Get No Retention, FA Package Due in Two Weeks Merrill's president revealed that managers will get no retention package and only the top third of financial advisors will be getting a deal. mark for My Articles similar articles
Registered Rep.
February 7, 2012
John Aidan Byrne
UBS' U.S. Brokerage Boosts Profits, Boasts Most Productive Advisors 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. mark for My Articles similar articles
Registered Rep.
July 7, 2011
John Aidan Byrne
Good On-boarding A Key Competitive Edge For Wealth Management Firms Good on-boarding can be a selling point with advisors and their clients, who may be convinced to give the firm a larger share of their assets, while poor on-boarding efforts can cause clients to pull their business. mark for My Articles similar articles
Registered Rep.
December 4, 2012
Jerry Gleeson
Taking Care of Business A survey this year by REP./Wealth Management.com shows how RIA attitudes differ from those among advisors in other channels. mark for My Articles similar articles
Registered Rep.
December 10, 2009
John Aidan Byrne
UBS Announces New Comp Plan; Comp Focused on FA Loyalty and Future Production UBS' plan is a departure from brokerages where compensation is typically based on trailing commissions rather than on growth. mark for My Articles similar articles
Bank Technology News
March 2011
John Adams
Self Service With An Edge When it comes to attracting wealth management clients, the new focus is entirely on control - specifically giving control to customers via electronic channels. mark for My Articles similar articles
Registered Rep.
November 6, 2008
Bank Of America To Sign Protocol, Herd Still Weighing Options Bank of America intends to sign the so-called "broker protocol," an agreement signed by most of the brokerage firms and RIAs stipulating what client information is acceptable for a departing financial advisor to take without getting sued by the former employer. But when? mark for My Articles similar articles
Registered Rep.
May 4, 2010
John Aidan Byrne
UBS Client Asset Outflows Slow in Q1 Improving market conditions softened the blow as total client assets hit $721.6 billion in the brokerage unit of the Swiss banking giant. mark for My Articles similar articles
Registered Rep.
December 21, 2011
Diana Britton
Aite: Bloom Coming Off the Rose of Social Media? Financial advisors are just getting started, and already, the bloom seems to be coming off the rose, Aite Group says. mark for My Articles similar articles
Registered Rep.
July 28, 2010
John Aidan Byrne
UBS Brokerage Unit Turning the Corner? The "turning point" in client fund outflows is about to appear for UBS Wealth Management Americas. mark for My Articles similar articles
Registered Rep.
April 16, 2010
Jerry Gleeson
Merrill Advisor Defections Flat In Q1, Profit Falls Profits were down last quarter at Merrill Lynch but the brokerage's performance still helped to lift the fortunes of its new parent, Bank of America Corp. mark for My Articles similar articles
Registered Rep.
October 7, 2009
John Aidan Byrne
Exclusive: McCann Back To Work In October Robert J. McCann, former president of Merrill Lynch, settles a bitter lawsuit with Merrill parent company Bank of America over a non-compete agreement. The settlement frees McCann to return to work this month. mark for My Articles similar articles
Registered Rep.
October 27, 2009
John Aidan Byrne
McCann Vows to Return UBS Wealth Management To Profitability New CEO Robert J. McCann says the wealth management division of UBS will not be put on the block. mark for My Articles similar articles
Registered Rep.
August 4, 2009
French & Churchill
Dan Sontag Departs Merrill Lynch Much beloved by Merrill financial advisors, Dan Sontag is stepping down as head of Merrill Lynch Global Wealth Management. mark for My Articles similar articles
Registered Rep.
March 9, 2011
Kristen French
Morgan Stanley Cutting 200-300 FAs And Trainees The firm's wealth management division, Morgan Stanley Smith Barney, should end the quarter with about 17,800 advisors, still the largest brokerage force in the U.S. by headcount. mark for My Articles similar articles
Registered Rep.
November 15, 2010
Diana Britton
How One Wealth Management Firm Intends To Grow Amid Competition 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. mark for My Articles similar articles
Registered Rep.
November 6, 2012
John Aidan Byrne
DIY Platforms Are Gaining the Mass Affluent Pressure to serve only the wealthiest, wirehouses are ceding the mass affluent to the independent, DIY brokerage platforms. Indeed, "direct" brokerages are beginning to offer more advice. mark for My Articles similar articles
Registered Rep.
October 27, 2008
John Churchill
Separate BofA Retention Package Targets Top Half of BofA force Only 50 percent, or roughly 1,000 of the 2,000 Bank of America Investment Services financial advisors, will see a retention bonus. mark for My Articles similar articles
Registered Rep.
June 1, 2012
Jerry Gleeson
Rep.'s Annual Compensation Report 2012: The Chink in the Ka-Ching Small household accounts have always been the bane of brokerages' existence, and advisors who work with such clients do so at the peril of their own compensation. mark for My Articles similar articles
Registered Rep.
October 26, 2010
John Aidan Byrne
UBS Stops the Bleeding, Adds Retail Client Assets Clients assets at UBS Wealth Management Americas outpaced withdrawals in its latest third-quarter results, a singular achievement last reported by the brokerage unit in the first quarter of 2009. mark for My Articles similar articles
Registered Rep.
September 25, 2013
Megan Leonhardt
"I Don't Work for a Wirehouse" Firms' credibility with clients, particularly those attached to banks, took a hit following the financial crisis. Five years later, have the firms earned back client trust? mark for My Articles similar articles
Registered Rep.
December 1, 2011
Kristen French
Broker Report Card 2011: It's Getting Better All the Time Registered Rep.'s 21st annual Broker Report Cards showed advisor satisfaction ratings creeping higher this year across the board -- on everything from compensation and benefits, compliance support and sales support to products. mark for My Articles similar articles
Registered Rep.
May 27, 2004
David A. Gaffen
High-End Investment Advice Grows Globally The private banking industry is growing at a level not seen since the late 1990s, reflecting not only an increase in the market but also an influx of new money into these firms. mark for My Articles similar articles
Registered Rep.
April 21, 2009
Christina Mucciolo
Smaller Advisors On The Firing Line It used to be that financial advisors never got fired. mark for My Articles similar articles
Registered Rep.
March 30, 2010
John Aidan Byrne
Waiting on McCann's Plan for UBS It won't be announced this week or next; instead UBS is eying an announcement in mid-April or later, people familiar with the matter told us. mark for My Articles similar articles
Registered Rep.
June 1, 2005
60 Seconds with Bob McCann The Vice Chairman of Merrill Lynch's Wealth Management Group talks about the brokerage giant's hiring plans and other current initiatives. mark for My Articles similar articles
Registered Rep.
August 5, 2010
Jerry Gleeson
Poll: Clients Love Breakaway Wirehouse Brokers Breakaway wirehouse advisors never walk alone. A new report by Aite Group on the independence movement shows that reps from the big houses demonstrate superior client retention when they leave their employers. mark for My Articles similar articles
Registered Rep.
March 2, 2010
John Aidan Byrne
New Rules For 401k Advice The White House has proposed rules that require advisors to either use independent computer models that spit out advice, or else avoid steering workers into funds to which they are tied or that pay them a fee based on their recommendation. mark for My Articles similar articles
Registered Rep.
February 16, 2012
Kristen French
Due Diligence: LaMothe Takes Swipe at BofA, Does 180 on Value of Bank-Brokerage Tie Ups Lyle LaMothe, former head of retail brokerage Merrill Lynch, claims that Merrill advisors are leaving the firm because they are being pushed to sell the whole bank instead of focus on wealth management and what's best for their clients. mark for My Articles similar articles
Registered Rep.
April 20, 2010
Kristen French
Merrill Won't Seek Growth Through Top Tier Advisor Hires Merrill Lynch plans to grow primarily by investing in current advisors and hiring rookies, said Merrill Lynch president of Global Wealth and Investment Management Sallie Krawcheck on Tuesday. mark for My Articles similar articles
Registered Rep.
February 8, 2011
John Aidan Byrne
Some Bright Spots Among the Red Ink for UBS UBS Wealth Management Americas added client assets and a handful of advisors in the fourth quarter, cushioning the blow from steep legal costs that resulted in a pre-tax loss of $34.6 million. mark for My Articles similar articles
Registered Rep.
December 1, 2006
Kristen French
60 Seconds with Deborah Doyle McWhinney A short interview about the rivalry between the registered investment advisor (RIA) firms that Schwab caters to and Wall Street wirehouses. mark for My Articles similar articles
Financial Planning
August 1, 2010
Donna Mitchell
Who's Planning? A study by Boston-based AiteGroup found that only 18% of independent advisors make financial planning the center of their practice. mark for My Articles similar articles
Registered Rep.
September 22, 2008
John Churchill
Wall Street's Pain Is RIAs' Gain: Reps Flee Wirehouses, Bring Assets to Fido And Others Despite the still-outsized signing bonuses offered by most Wall Street firms, the steady trickle of brokers leaving wirehouse firms to join or form their own RIA firms is growing. mark for My Articles similar articles
Financial Planning
December 1, 2012
Joel Bruckenstein
Financial Planning 2012 Tech Survey The readers of Financial Planning evaluate the software, hardware, mobile devices and advisory platforms that planners use most. mark for My Articles similar articles
Registered Rep.
October 1, 2010
John Aidan Byrne
Who Will be Number One Among the Wirehouses? A good old-fashioned Wall Street fight for retail assets -- and a fierce tussle over which firm can call itself the Number One retail wealth management firm on Wall Street -- is brewing. mark for My Articles similar articles
Financial Advisor
March 2012
UBS Reeling In Merrill Advisors The big four wirehouse firms are always trying to poach top talent from their rivals, but UBS Wealth Management seems to be doing a particularly job good job of late when it comes to snagging advisor teams from Bank of America/Merrill Lynch. mark for My Articles similar articles