Morgan Stanley Tops Q1 Estimates; Wealth Unit Boosts Profits
The firm's advisor headcount fell below 16,000 advisors, but production rose to nearly $960,000.
BD Fees Confuse Investors: NASAA
“Investors are confused and unaware of how much their brokerage firm charges to serve and maintain their investment accounts,” NASAA President William Beatty said.
Merrill Rehires Branch Manager From Morgan Stanley
Michael Casey returns to the Thundering Herd after six years at rival wirehouses.
Merrill Adds Janney Advisor, Ameriprise Picks Up 3 Reps
The advisors come on board the two firms in Pennsylvania, Texas, Florida and New York.
Morgan Stanley CFO to Leave for Google
Ruth Porat will take the same position at Google and will be one of the few female top executives in Silicon Valley.
Bob Doll: Fed Rate Hikes Likely in September
Although the Fed doesn’t appear to be in any “immediate hurry to act,” Bob Doll believes interest rate increases will begin in 2015.
Fearing Rate Hike, Global Investors Flee U.S. Stocks
Global investors significantly reduced their U.S. equity allocations in February, according to BofA Merrill Lynch’s March fund manager survey.
For Product Providers, Wirehouses Still Rule: Cerulli
Though wirehouses' market share is declining, they still hold the biggest share of assets, so product providers must adapt to their changing needs, Cerulli says.
Merrill Grabs $3.1M Team From UBS in Palm Beach
The veteran group includes four advisors with about $500 million in client assets.
Health Trumps Financial Security for Retirees
Over 80% of retirees feel health is the most important part of a happy retirement, according to a survey by Merrill Lynch. By comparison, 58% of respondents said financial security was most important.