LPL Expanding HNW Services to Reps
Execs say the advisory "landscape has changed" and that the "credibility gap" between indie firms and wirehouses is no more.
Recruiting Roundup: Wells Fargo Adds 6 Reps, $690M From Rivals
The advisors moved from Morgan Stanley and Merrill; meanwhile, LPL adds a hybrid group with $305 million in assets.
UBS Q1 Profits Drop 64%; Mixed Results for Wealth Unit
But advisors in Wealth Management Americas continue to outpace rivals in fees and commissions.
Recruiting Roundup: Royal Alliance Adds 2 Teams; Merrill Names Market Execs
Meanwhile, Focus Financial says two partner firms have expanded their operations.
Recruiting Roundup: Merrill Lynch Picks Up 9 Reps With $1.5B
Meanwhile, Raymond James adds two employee teams with $370 million and an indie advisor with $325 million.
BofA, Wells Fargo Profits Weaken but Beat Estimates in Q1
Bank of America also reported lower revenue, while its counterpart improved sales in the period.
Recruiting Roundup: Morgan Stanley Gains 5 Reps With Assets of $850M
Meanwhile, Focus Financial adds Waddell & Associates in Tennessee.
Best Full-Service Investment Firms Ranked by Investors: J.D. Power — 2016
Overall satisfaction has weakened across full-service broker-dealers, the survey finds.
Recruiting Roundup: $400M Merrill Broker Goes Indie With Dynasty
Meanwhile, LPL brings five advisors onto its brokerage platform in Ohio; SagePoint adds affiliated reps with $500 million.
Q1 Large-Cap Fund Performance Worst in 18 Years: Merrill
Less than a fifth of large-cap funds beat the S&P 500, the lowest quarterly "hit rate" since Merrill Lynch started collecting data in 1998.