Morgan Stanley Adds Bonuses for Advisors Who Land Cash-Heavy Clients
Under Morgan Stanley's 2016 comp plan, advisors can receive $5,000 to $50,000 a year for growth in clients who are “cash management engaged.”
‘Late to the Game,’ Wells Fargo Wins Deal to Recruit Credit Suisse Reps
The wirehouses and other firms are competing fiercely for some 300 wealth managers from Credit Suisse, which is closing its U.S. private banking unit.
Just 18% of Advisors Think Fed Will Hike Rates This Month: Fidelity
However, more than 60% expect the Federal Reserve to bump up interest rates in 2016, the poll finds.
Morgan Stanley Tightens Its Overseas Client Service
The wirehouse says 400 U.S.-based reps will be allowed to serve international clients with at least $500,000 in assets.
Most Advisors See Little Effect From New Fiduciary Rules, Survey Finds
But, expert asks, do reps really understand what they will need to do to fully monitor and manage investment suitability?
Wells Fargo, Hearsay Social Roll Out New Tech Tools
The wirehouse boosts reps' tablet power, while the social media tech firm introduces a "universal" supervision solution.
FINRA Doubles Length of Suitability Suspensions, Toughens Fraud Sanctions
FINRA says it will be tougher on those committing fraud or making unsuitable recommendations and will increase suspensions for breaking suitability rules.
Financial Advisors Don’t Care About Millennials, and the Feeling Is Mutual
They prefer their clients old and rich—but that can’t last long.
Baird Adds $350M Ex-Schwab Rep
Meanwhile, Raymond James and Ameriprise pick up teams from Morgan Stanley and Stifel.
Hearsay Updates Social Media Apps for Mobile Phones
Meanwhile, Socialware introduces a brand protection tool for financial companies.