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’.
New DOL Fiduciary Rule Will Hurt Retirees, Panelists Say
While consumer advocates favor compelling brokers to act in a client’s best interest, much of the financial lobby is dead-set against them.
Imminent End of QE in U.S. Spooks Global Fund Managers
Fund managers’ confidence that the global economy would strengthen over the next 12 months plummeted to its lowest level in two years in October, a Merrill survey says.
Krawcheck Calmly Rips Microsoft CEO Over Comments on Women
Krawcheck criticizes Satya Nadella’s advice that women shouldn’t ask for raises but should rely on “karma” instead.
Focus, Dynasty Add Teams; Morgan Stanley Grabs 4 FAs With $660M
Boutique firms continue to attract registered reps, including some from the wirehouse firms.
Health Trumps Financial Security for Retirees
Good health is more crucial to a happy retirement than financial security or family and friends, according to a study by Merrill and Age Wave.
LPL Adds $1.2B Team; Wells Fargo Recruits $1.4B Reps
Also, Washington Wealth brings in group from RBC with $830 million in assets, as Morgan Stanley's Graystone attracts Merrill institutional team.
Wells Fargo Adds 11 California Reps With $1B in AUM
The wirehouse taps a new communications chief, as independent firms hire recruiters, portfolio managers.
BDs, Trade Groups Team Up to Clarify Murky BD Fees
FINRA, SIFMA and other groups, with LPL and other BDs, have joined forces to develop rules that ensure BDs’ fees are easily understood by investors.
Morgan Stanley Sees Bank Programs as Key to Growth: Porat
The firm's CFO says managed accounts and lending should help it boost results going forward.