Ameriprise Adds 10 Reps as Raymond James Brings in $780M Advisors: Recruiting Roundup
Both firms attract financial advisors from Wells Fargo and other wirehouses.
Wells Fargo Teams Jump Ship: Recruiting Roundup
A number of advisors are leaving wirehouse firms at year-end for smaller rivals, greater independence.
12 Best & Worst Broker-Dealers: Q3 Earnings, 2016
After two weak quarters, the financial sector begins to see better results.
$500M Wells Fargo Team Moves to RBC Wealth: Recruiting Roundup
Meanwhile, both Merrill Lynch and HighTower Advisors announce new reps and executive appointments.
Merrill Kills Mutual Fund Sales in IRAs; DOL Rule Sparks Move
The wirehouse says it is making the move to get ahead of the April 2017 DOL fiduciary deadline.
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.
Morgan Stanley’s Gorman on DOL: Choice for Clients ‘Is Critical’
Executives also say that the impact of this strategy has been included into margin targets for wealth management of 23-25%.
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.
Merrill Grabs $2B Team From Morgan, Loses $800M Group to Janney
BofA-Merrill Lynch adds eight advisors in the state of Washington, while Janney picks up five reps in Connecticut.
John Thiel, Head of Merrill Lynch, to Step Down
Thiel says he will stay on as an advisor; the new chief will be Andy Sieg, head of Global Wealth & Retirement Solutions.