PIMCO Rehires Spence, Banet to Rebuild After Gross Departure
PIMCO has named Nobel laureate Michael Spence as consultant and rehired money manager Jeremie Banet as executive vice president.
UBS’ Advisor Production Tops Merrill’s (Again), as Q3 Profits Rise
UBS Wealth managers in the Americas have average annual fees and commissions of nearly $1.08 million.
Alternative Bond Funds: What Advisors Need to Know
Different funds have radically different strategies and management arrangements, experts say.
Snowden Lane Picks Up $270M Merrill Duo
This news follows the boutique firm’s recruiting of a UBS team in late September.
Wells Fargo Adds 2 Reps, Boosts Overall Headcount in Q3
The third-biggest wirehouse says its client assets total $1.4 trillion.
Morgan Stanley Recruits 5 Advisors; Merrill Adds Team
The wirehouses each add registered reps from rival firms with more than $500 million in client assets.
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.