Raymond James, Ameriprise Keeping Commissions in Retirement Accounts
The two BDs, which have nearly 17,000 advisors, won’t relent to DOL fiduciary rule, insisting that investor choice is paramount.
Most Advisors Confused on DOL Rule’s Impact: State Regulator Poll
A majority incorrectly believes that, despite their work with retirement accounts, the new fiduciary standard won’t impact them.
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.
Ameriprise Misses Estimates, Posts DOL-Related Costs: Q3 Earnings
Its reps now have average fees and commissions of $511,000, which is down 1% from last year.
BofA Wealth Profits Jump 10%: Q3 Earnings
The unit is set to have a new leader in 2017, when it will no longer offer commission-based retirement accounts.
Securities America Buys $2B Advisor Group, Wraps Up 9th Deal
The IBD is adding some 67 advisors who produce $11 million in yearly revenue near Rochester, New York.
Cetera, Freed From RCAP Bankruptcy, Set to Charge Ahead
“We are recapitalized and have a new board of directors,” CEO Larry Roth told ThinkAdvisor. “It’s fantastic!”
11 Best & Worst Broker-Dealers: Q1 Earnings, 2016
Results for financial firms were generally the same: bad, with one standout.
Wells Fargo’s Mack Opens Up on How an Advisor Helped Her Cope With Tragedy
Wells Fargo Advisors President Mary Mack puts the importance of the DOL fiduciary rule and client-advisor relationships in highly personal terms.
Ameriprise Weighs Adding Advisors as Regulation Squeezes Rivals
DOL fiduciary rule opens up opportunities, CEO says; firm has devoted about 400 people to deal with its impact.