Wall Street’s 15 Biggest Spenders on Lobbying in Washington
Wall Street banks, financial services firms and trade associations spent $1.4 billion in the 2013-2014 election cycle, according to Americans for Financial Reform.
Morgan Stanley CFO to Leave for Google
Ruth Porat will take the same position at Google and will be one of the few female top executives in Silicon Valley.
Merrill Fined $2.5M Over Unapproved ‘Double Production’ Talks
Three hundred advisors and staff in Boston attended sales presentations that were not pre-approved by compliance.
Raymond James, LPL Add Teams From Morgan Stanley
The two groups each have $200 million or more in assets; Securities America taps recruiter; Foothill Securities brings on $1B group.
Morgan Stanley’s Dhanda Named to New Role in Wealth Unit
He replaces Andy Saperstein, who is becoming co-COO of institutional securities.
FiNet President: Wells Fargo ‘Loves Our Growth Story’
Wells Fargo Advisors’ independent channel has been on a tear, adding 99 advisors last year, FiNet President Kent Christian says.
For Product Providers, Wirehouses Still Rule: Cerulli
Though wirehouses' market share is declining, they still hold the biggest share of assets, so product providers must adapt to their changing needs, Cerulli says.
All Eyes on SEC Chief to Move Fiduciary Forward, FINRA’s Ketchum Says
Meanwhile at SIFMA's regulatory conference, the Wall Street lobby released a study challenging the White House's claim that conflicted advice costs investors $17 billion annually.
Baird Adds Ex-UBS Team, Former Morgan Stanley FA in Texas
Meanwhile, Raymond James recruits five advisors to its financial institutions group.
Deconstructing One Broker’s Take on a Fiduciary Standard
A broker responds to my March column for investment Advisor on the fiduciary standard and makes some good points. And some not-so-good points.