12 Best & Worst Broker-Dealers: Q2 Earnings, 2016
Like in Q1, profits for financial firms generally moved in the same direction, with one exception.
Recruiting Roundup: Raymond James, Cetera Add Groups
Meanwhile, two RIAs merge to form group with $13 billion in client assets.
BofA Q2 Profit Drops 18%
Revenue for the wealth group continues to drop, along with fees and commissions at Merrill and elsewhere.
Beyond 401(k)s, Merrill Boosts Offerings to Corporate Clients
The wirehouse has created a new executive post to increase banking, wealth management and "financial wellness" services for corporate clients and their employees.
SEC Deals Merrill a $425M Wallop; Other Firms Could Be Next
The regulator says the wirehouse failed to safeguard investors' cash and other holdings; other broker-dealers must self-report customer protection violations by Nov. 1.
Morgan Stanley Expands Nonresident Wealth Business
It adds two executives from Credit Suisse to boost these operations, which have some 400 reps and $90 billion in assets.
Recruiting Roundup: Raymond James Adds Affliates, Reps With $3.2B in Assets
Meanwhile, Merrill Lynch, RBC, Dynasty, Schwab and other firms welcome new advisors to their operations.
Recruiting Roundup: Raymond James Adds $620M Bank Group, Advisor
Meanwhile, Morgan Stanley picks up four reps with a combined $790 million in assets.
Recruiting Roundup: Merrill Lynch Picks Up $1.7B Reps From Rival
Raymond James and Woodbury also announced their latest recruits.
LPL Reports Latest Asset, Recruiting Figures
The IBD had mixed results in April but attracted close to 60 reps in Q1'16.