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Registered Rep. October 11, 2011 Jerry Gleeson |
Top Convergent Wealth Exec Jumps to Focus Financial Lori Van Dusen, a widely regarded executive at one of the largest registered investment advisors in the country has jumped ship to start her own practice with another, much larger RIA.  |
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.  |
On Wall Street August 1, 2011 Lorie Konish |
Expect a New Wave of Advisor Movement Even with rumblings that Wall Street firms could brace for cost cuts and layoffs this summer, competition for top wealth management talent is poised to remain strong.  |
Registered Rep. October 22, 2009 Christina Mucciolo |
MSSB Plans to Double Size of U.S. Division For Ultra Wealthy Morgan Stanley Private Wealth Management will exclusively serve clients with a minimum of $20 million in assets.  |
Registered Rep. January 20, 2010 Halah Touryalai |
Wealth Management Has Strong Fourth Quarter At Morgan, BofA Neither Morgan Stanley Smith Barney nor Bank of America ended 2009 with a bang in the earnings department. But their wealth management units were pockets of strength.  |
Registered Rep. July 21, 2010 Jerry Gleeson |
Assets, Advisors Decline at Morgan Stanley Smith Barney in Q2 Morgan Stanley is making continued progress on its integration with Smith Barney, but declines in assets and headcount suggest it may be feeling the pain of client and advisor departures.  |
Registered Rep. September 30, 2013 Megan Leonhardt |
Wirehouse Evolution Far from a dying model, the big brokerages are changing their game.  |
Registered Rep. February 7, 2012 Jerry Gleeson |
Morgan Stanley Smith Barney's King Breaks Away, Taps Dynasty for Help 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.  |
Registered Rep. April 21, 2010 Jerry Gleeson |
Morgan Stanley Profits Rise, Advisor Count Flat Morgan Stanley on Wednesday reported higher-than-expected revenues and profits in the first quarter, lifted by its acquisition last spring of Smith Barney and by higher fixed income.  |
Registered Rep. June 1, 2009 David Geracioti |
Can You Say, "Morgan Stanley Smith Barney?" The Joint Venture Launches Today The deal merging Citi's brokerage (Smith Barney) with Morgan Stanley's Global Wealth Management Group is closed -- ahead of schedule.  |
Registered Rep. April 21, 2011 Diana Britton |
Raymond James Adds Assets, Loses Advisors Raymond James Financial's Private Client Group led the firm's growth in the second quarter.  |
Registered Rep. May 9, 2011 Gleeson & Britton |
New SEC Disclosure Rules Dismay Some Advisors; Advisor Disciplinary Histories in Welcome Packets New SEC rules that require federally-registered advisors to disclose their disciplinary histories in brochures and provide them to clients will get under way in earnest by the end of the summer.  |
Registered Rep. February 13, 2012 Jerry Gleeson |
Raymond James Ramping Up Its RIA with New Leadership, Investment The new president, Bill Van Law, said the company plans to make a significant investment in the business in the months ahead.  |
Registered Rep. July 14, 2009 Halah Touryalai |
Financial Advisor Switching Firms Jumps in June June was a busy month for financial advisors on the move. The number of advisors switching firms jumped 45 percent in June versus May, according to Discovery Database.  |
Registered Rep. January 14, 2011 Kristen French |
Some MSSB Advisors Upset by Johnston's Departure Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm's asset management business, will replace Charles Johnston as head of wealth management.  |
Registered Rep. February 23, 2010 Halah Touryalai |
Clients, The New Breakaways First, there was the breakaway broker phenomenon; now, it seems, we have a growing vogue of breakaway clients -- former wirehouse investors who ditch their old advisors for new ones at independent RIAs or broker/dealers.  |
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.  |
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.  |
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.  |
On Wall Street February 1, 2010 Frances A. McMorris |
When Firms Collide: Is Culture Clash Inevitable? Merged companies have been integrated and new executives have taken up their posts, but everyone is still trying to adjust.  |
Registered Rep. March 7, 2011 Jerry Gleeson |
Morgan Stanley May Drop "Smith Barney" From Name Will the Smith Barney name go the way of A.G. Edwards, Bear Stearns, and other brokerages whose historic identities were sublimated following acquisitions by larger firms?  |
Registered Rep. December 21, 2012 Megan Leonhardt |
Looking Back, 2012 A Mixed Bag For Wirehouses Assets mostly were up, but advisors are on the move.  |
On Wall Street August 1, 2010 Aarti N. Maharaj |
The Wirehouse Way While the lure of independence has traditionally been viewed as the ultimate siren song for many advisors, many in the industry are finding good reasons to stay with the big companies. And it's not all about the money.  |
Registered Rep. January 20, 2011 Kristen French |
Morgan Stanley Says Integration On Track, Wealth Managment Revenues Up 7% Morgan Stanley CEO James Gorman and CFO Ruth Porat said they are pleased with the progress of integration in the wealth management division, a joint venture with Citigroup in its spun-off Smith Barney division, as well as its performance.  |
Registered Rep. July 21, 2011 Kristen French |
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters.  |
Registered Rep. August 29, 2010 Jerry Gleeson |
Merrill, MSSB Invest in New Technology Wirehouse firms continue to upgrade their advisor workstation technology following the recent consolidation among firms.  |
Registered Rep. April 21, 2011 Kristen French |
Morgan Stanley Wealth Management Assets Up, Headcount and Margins Down Morgan's other two divisions -- institutional securities and asset management -- recorded declines in income and revenues.  |
On Wall Street September 1, 2011 Lorie Konish |
Morgan Stanley Smith Barney's $1 Trillion Target Morgan Stanley Smith Barney focuses on growing its Consulting Group division, where it aims to double the assets in the managed account group to more than $1 trillion within the next five years.  |
Registered Rep. October 20, 2011 Diana Britton |
Raymond James Posts Flat Earnings, Record Advisor Productivity in Fiscal Q4 CEO Paul Reilly said the private client group had strong performance driven by record advisor productivity.  |
Registered Rep. August 1, 2004 |
Comings & Goings Sam Vetas, one of Morgan Stanley's top producers has moved... Joe Biondo Sr. recently went independent from Smith Barney... Former Registered Rep. columnist Harry Pappas has switched firms... etc.  |
Registered Rep. March 28, 2012 Charles Paikert |
Branch Managers Are Key For Aggregator Growth There is growing demand for their talents in one corner of the wealth management universe: newly formed aggregators who are busy buying up firms and opening offices across the country.  |
Registered Rep. September 20, 2011 Jerry Gleeson |
Big-Time Rollups Continue; Focus Financial to Acquire Colony Group This is Focus' fourth deal so far this year, and will make Focus a $45 billion player.  |
On Wall Street February 1, 2012 |
Who's News New hires for Merrill Lynch Wealth Management, Morgan Stanley Smith Barney, UBS Wealth Management, and Raymond James.  |
Registered Rep. October 19, 2011 Kristen French |
Morgan Stanley Smith Barney Reels In $15.5B in Assets, 300 FAs Exit, Margins up to 11% Morgan Stanley's global wealth management group finally raised its pre-tax profit margins in the third quarter, which climbed to 11 percent from 9 percent.  |
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.  |
Registered Rep. January 28, 2011 Diana Britton |
Fidelity: As Dust Settles, Larger Teams Breaking Away While the number of advisors shifting to independent business models slowed somewhat last year from 2009, the size of those breakaways making the move is growing.  |
On Wall Street March 1, 2012 Lorie Konish |
Go,Teams! When Hilliard Lyons introduced its current team-based award program in its compensation program five years ago, it led to what Executive Vice President Darryl Metzger now calls an "A-HA" moment for the firm.  |
Registered Rep. May 31, 2013 Megan Leonhardt |
Sizing Up the Street In the latest earnings cycle, here's how the wirehouses stacked up.  |
Registered Rep. April 17, 2009 Halah Touryalai |
Smith Barney Losing Advisors, Client Assets But while Smith Barney is losing reps, it also appears to be recruiting heavily.  |
On Wall Street December 1, 2011 |
Who's News Morgan Stanley Smith Barney hired three advisors from UBS Financial Services... Bank of America Merrill Lynch hired Morgan Stanley Smith Barney advisors Raymond Stacy and Christopher Pieper... Wells Fargo Advisors hired advisor Zoran Vaz...  |
On Wall Street June 1, 2012 |
Who's News Morgan Stanley hired three new advisor teams... RBC Wealth Management has hired three wirehouse advisors in Illinois... Edward Jones has hired Emmy-award winning reporter/anchor Marc Cox...  |
Registered Rep. November 26, 2010 Charles Paikert |
RIA M&A Deals On Track To Top 2009 Total The number of mergers and acquisitions completed in the registered investment advisor business through the third quarter of this year is near full-year totals for 2009, according to data from Schwab Advisor Services.  |
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.  |
On Wall Street September 1, 2010 |
Who's News Stephen Lawrence joined Wells Fargo Advisors... Morgan Stanley Smith Barney recruited Laurence Braunstein... Paul Gilman and Marshall Hagen joined UBS... RBC wealth has recruited Jason Braunstein... more...  |
On Wall Street July 1, 2009 Frances A. McMorris |
The Lure of Independence After 14 years as a Merrill Lynch financial advisor, Jason DiLauro set himself up as an independent through Raymond James Financial Services four miles from his previous office.  |
Registered Rep. November 30, 2012 Diana Britton |
Withering Wirehouses? Not Quite. Many industry propellerheads have forecasted an exodus of wirehouse advisors to the independent channel as retention bonuses unwind this year.  |
Investment Advisor January 2010 James J. Green |
Numerology: Bright Future for Advisor M&A Activity M&A activity among RIA firms is poised for resurgence, as a new market environment emerges and the pool of potential buyers undergoes dramatic change.  |
On Wall Street January 1, 2011 Lorie Konish |
Time To Move Past Dark Days After a year filled with slow overall growth and shifting hierarchy with the integration of big names like Bank of America Merrill Lynch and Morgan Stanley Smith Barney, the industry should be ready with more efficient business models and potentially higher profits in the coming year.  |
Registered Rep. July 22, 2013 Mindy Diamond |
The Long Road Home Wirehouse firms are recruiting more independent advisors to their ranks than ever before.  |
Registered Rep. October 5, 2009 Kristen French |
Citi Bank Brokerage Converts To All Fees Citigroup announced that it would convert its small North American bank brokerage business completely to a fee-on-assets-based fiduciary advice system, and would stop collecting commissions on stock and fund sales.  |