The Rich Are Already Using Robo-Advisors, and That Scares Banks
Some 15% of Schwab's robo-clients have at least $1 million; Morgan Stanley, Wells Fargo, BofA planning automated services.
Recruiting Roundup: RBC Adds $4M Team in New York
Meanwhile, Wells Fargo, Raymond James and LPL Financial announce their latest new advisors.
Rising Star: Morgan Stanley’s Shelley O’Connor
In Research’s latest interview offering views from the industry’s highest ranks, Morgan Stanley’s Shelley O’Connor talks about wealth management, women (clients and advisors) and more.
Morgan Stanley’s Gorman: Buy Energy Stocks Now ‘If You’ve Got the Stomach’
The wirehouse CEO says the economy isn't "under fundamental stress."
BofA Wealth Profits Fall in Q4; Morgan Stanley Shows Mixed Results
Merrill Lynch says its advisors had close to $1 million in yearly fees and commissions in 2015.
Q4 Profits Up 15% at Wells Fargo’s Wealth Unit
Morgan Stanley and Merrill Lynch will report their financial results on Tuesday.
Morgan Stanley Brokerage Chief Exits, Kelleher Named President
CEO James Gorman said to plan longer tenure; Colm Kelleher gains oversight of wealth management unit.
Who Wins, Who Loses With New DOL Rule? $3 Trillion in Play
Morningstar's Stephen Ellis looks at the costs, benefits of DOL fiduciary rule, says $3 trillion in assets will be affected.
JPMorgan Wants Ex-Worker Found in Contempt Over Poaching
Bank says ex-employee Salvatore Alesia is improperly soliciting former clients after joining Morgan Stanley.
Ex-Morgan Stanley Advisor Avoids Prison Over Data Theft
Galen Marsh given three years of probation after guilty plea; Russian hackers suspected of stealing data from Marsh.