Baird, RBC Wealth Add Advisors From Wells Fargo: Recruiting Roundup
Meanwhile, Raymond James picks up a $1.5 million team from UBS in St. Louis.
Senators Demand Clawback Rule in Response to Wells Fargo Scandal
Executive-pay rules under Dodd-Frank offer regulators a chance “to address these accountability issues at major banks,” wrote Sens. Warren and Menendez.
Morgan Stanley Keeps Commission Retirement Accounts, Despite DOL Rule
The news comes one week after CEO James Gorman discussed the importance of giving clients choice.
Technology Disruption Driving M&A in Wealth Management
The first wave of acquisitions was driven by incumbents in an effort to slow down client defection to new entrants.
Coders: The Business Partners You Didn’t Know You Had
The developers working behind the scenes on advisor technology represent the glorious underbelly of fintech you’ll likely never see, but depend on every day.
Top Portfolio Products: AssetMark, Fi360’s New Tools to Help Advisors With DOL Rule
In addition, Vestmark unveils a new robo platform and Envestnet to integrate with MoneyGuidePro.
Wells Fargo Probed for Criminal Identity Theft in California
Attorney general serves search warrant on lender; the bank says it’s cooperating, providing requested information.
Morgan Stanley’s Gorman on DOL: Choice for Clients ‘Is Critical’
Executives also say that the impact of this strategy has been included into margin targets for wealth management of 23-25%.
Gender Pay Gap in Financial Services Is One of the Widest
A lack of women in the financial services industry, and especially in executive roles, helps perpetuate the wage gap that exists.
Morgan Stanley Profits Surge, Top Estimates: Q3 Earnings
The wealth unit says its net income increased 11% year over year, while its pre-tax profit margin was 23%.