Merrill Nabs 2 Advisors, Wells Adds 5
The new Merrill team has $3 billion in assets, while each of Wells Fargo’s latest recruits produces more than $1 million in yearly fees and commissions.
BofA’s ‘Better Money Habits’ Program Can Be a Barometer for Advisors
By understanding what financial topics the general public is looking up, advisors can better anticipate where their clients need the most guidance.
JPMorgan Pledges $20M for Veteran Initiatives
JPMorgan Chase has pledged $20 million over the next five years to go to employment, education and housing programs for veterans and their families.
New Hire Roundup: Mercer Investments Adds 4
Also in personnel moves, Cathy Clauson joins AssetMark, and Tonnie Wybensinger joins the Financial Services Roundtable.
Ex-Bank of America CFO to Pay $7.5M Fine to New York
New York attorney general’s settlement with Joe Price over Merrill merger comes one month after $25 million deal with ex-Bank of America CEO Ken Lewis.
Merrill Grabs $300M Morgan Stanley Team
Also, an ex-Wachovia advisor joins Pitcairn, and Raymond James adds succession tools.
BofA Posts Loss; Wealth Group Profit Slows: Q1 Earnings
The bank’s earnings are hit by mortgage issues, and advisor-related net income drops from the fourth quarter.
SEC, FINRA, CFPB Enforcement: BofA Busted for Illegal Credit Card Practices
In other actions, Hewlett-Packard will have to pay $108 million to settle SEC and DOJ charges of FCPA violations.
Looming Advisor Shortage Demands New Training Approach
Steve Johnson and other talent mavens aim to change training of millennials, who respond to different methods than prior generations.
BofA to Pay $6.3 Billion to Fannie, Freddie Over RMBS Failures
Bank of America reached a settlement Wednesday to resolve all of the Federal Housing Finance Agency's residential mortgage-backed securities litigation with the bank.