Wells Fargo Advisory Business Sees Jump in Profit, Advisers
Wells Fargo & Co.’s Wealth Brokerage and Retirement Group saw increasing revenues driven by growth in asset-based fees and brokerage transactions, the firm said.
Tag: Broker/Dealers
MSSB Bolsters Revenue for Morgan Stanley
Morgan Stanley Smith Barney reported an influx of assets and advisers in the first quarter.
Advisers Meet Compliance's Hurdles to Using Social Media
Even with clarity from FINRA, broker/dealers have yet to christen social networking.
Study Finds Wirehouse Firms Lost Market Share in 2009
Wirehouse firms still lead the market share in the wealth management industry, but independent and regional broker/dealers are catching up, a new report found.
MetLife Settles Charges of Improper Payments to Insurance Broker
The Metropolitan Life Insurance Company (MetLife) will pay $13.5 million to the federal government to settle charges it made improper payments to a San Diego-based insurance broker.
Merrill Profits Fall as Assets Shift to BofA Retail Division
Although Merrill Lynch saw sinking revenue and profits, the brokerage unit is helping to keep Bank of America (BofA) in the black.
Risk Appetite Back on the Rise for Fund Managers
Fund managers are taking on more risk in anticipation of a “Goldilocks” recovery in the economy, according to the BofA Merrill Lynch Survey of Fund Managers for April.
linkedFA Unveils Compliance Update for Brokerage Firms
linkedFA, a social networking site for financial professionals, said it now offers a feature to satisfy compliance concerns of brokerage and wirehouse firms.
RPAG Brings on New Fixed-Income Analyst
Retirement Plan Advisory Group (RPAG), an alliance of retirement plan advisers, said Gabriel Kass has joined its investment team as an investment analyst, specializing in fixed-income investments.
BofA Offers Employees New HR Service Platform
Bank of America (BofA) said it will enter into human resources partnerships with Hewitt Associates and Plateau Systems, beginning in 2011.
Merrill Advisers Sue for Gender Discrimination
Three female financial advisers have filed a lawsuit charging gender discrimination at Bank of America Merrill Lynch.
National Financial Adds Tools to Help Manage Client Tasks
National Financial said it has made enhancements to its online service technology resources to help brokers and advisers better initiate and manage service requests.
SEC Announces Distribution of Prudential Market-Timing Settlement
The Securities and Exchange Commission (SEC) has announced a distribution of nearly $185 million to more than 800 mutual funds that were affected by illegal market timing by...
Web Database Offers 401(k) Provider Information for Plan Advisers
A new service called 401(k) Rekon aggregates and lists resources offered to financial advisers by 401(k) plan providers.
practice management
B/D Advice
As retirement plan advisers increase in number, independent broker/dealers are building their support services
LPL Promotes National Sales Manager
Independent broker/dealer LPL Financial Corporation has promoted Derek Bruton, national sales manager, Independent Advisor Services (IAS), to managing director of the company.
practice management
Taking the Bull by the Horns
Following its Merrill Lynch acquisition, Bank of America aims to make a serious play in the retirement market
Wirehouses Plan Retention, Recruitment for 2010
Wells Fargo and Bank of America (BofA)’s Merrill Lynch plan to add more brokers to catch up to Morgan Stanley Smith Barney.
SEC-BofA Settlement Receives Judge’s Approval
A long-brewing regulatory conflict ended today as a U.S. District Judge approved Bank of America’s (BofA) $150 million settlement with the Securities and Exchange Commission (SEC).
BofA Snags Tighe from MSSB
Bank of America Merrill Lynch’s wealth management unit poached Morgan Stanley Smith Barney executive Jimmy Tighe to serve as a senior office responsible for business and resource integration,...