Merrill’s New Comp Plan Pushes Reps to Drop Small Clients
Enhanced payouts will be offered to reps who bring in new high-net-worth households as smaller clients will be directed to Merrill Edge.
LinkedIn Yields Next-Gen Wealth Transfer Clients
Advisors are using LinkedIn to successfully reach younger wealth-management clients, says the National Bank of Canada and Hootsuite.
Raymond James Adds Ex-LPL Group in N.J.
Boutique wealth groups add teams in Arizona and Iowa.
Morgan Stanley Courts Athletes, Singers With New Wealth Unit
The wirehouse targets top entertainers with about 70 financial advisors.
HD Vest Reps Add $94M in AUM Thanks to Tax Talks, Tools
An enhanced software program helps reps process more client information so they can grow their practices.
LPL Q3 Earnings Meet Lowered Estimates as Profits Fall 12%
Average production per advisor drops from Q2, but assets tied to RIA relationships strengthen.
Morgan Stanley Q3 Profits Jump 87%; Wealth Unit Improves Margins to 22%
The wirehouse reps’ average fees and commissions top $930,000 but remain behind Merrill FAs’.
BofA Posts Small Q3 Loss; Merrill Reps Near $1.1M in Average Production
The wealth-management operations report a pretax profit of 27.4% on net income of $813 million.
Bruton's Lucia Capital Seals First Deal, Adds $170M in Assets
The group, led by ex-LPL exec Derek Bruton, acquires client assets and two professionals; plans more purchases.
Wells Fargo Fined $5M Over Advisor’s Insider Trading, Altered Document
SEC says Wells Fargo Advisors was slow to release required compliance documents and "altered" one related to sales of Burger King stock.