HighTower Adds $1B Team in Florida: Recruiting Roundup
The group is moving from Wells Fargo Private Bank; meanwhile Focus Financial says a partner firm has wrapped up a deal.
Only 16% of Advisors Are Women: Cerulli
Cerulli makes the case that increasing women’s representation among advisors brings concrete business advantages.
Goldman, Citi Beat Estimates as Trading Buoys Wall Street
Banks follow JPMorgan, BofA, Morgan Stanley in bond rebound; Blankfein, Corbat continue push to reduce firmwide expenses.
Wells Fargo Advisors Wins $23M in Baird Raiding Case
"Raiding is brought up when firms feel they are being specifically targeted by competitors," recruiter Jon Henschen says.
Morgan Stanley Q4 Profits Double, but Wealth Group Misses Target
CEO James Gorman says the firm's wealth management operations will produce better results this year.
Wells Fargo Benefits From Higher Rates, Plans Cost Reduction
The bank is targeting a $2 billion cut in annual expenses by end of 2018.
BofA Raises Forecast for Interest Income as Profit Climbs 43%
Net interest income is expected to increase by about $600 million in the first quarter.
SEC Fines Morgan Stanley $13M for Overcharging Clients
About 149,000 clients paid excess fees between 2012 and 2016, the regulator says.
Janus Advisor Guide: Beware of Correlations, and Other Investment Tips
Janus Funds’ 2017 Wealth Advisor’s Guide identifies the intended and unintended risks of advisors’ asset allocations in their model portfolios.
Citi to Return $22.5M in Excess Fees
The reimbursement, ordered by the New York Attorney General, affects about 47,000 mutual fund clients.