New Hire Roundup: James Hanna Joins Genworth; Morningstar CFO Departs
This week in new hires, Genworth hires a new CTO; Morningstar announced changes in its senior management; and FSI hired Kathryn Anderson and added 500 new advisor members.
Top 7 Biggest Bank Fines
AdvisorOne finds that all of the biggest bank penalties have been levied in the last 10 years, with most of them since the financial crisis started in 2008.
Brokers Angered Over FINRA’s Bonus Disclosure Plan
Brokers and advisors wasted little time weighing in with their emotional comments on FINRA’s controversial plan to require brokers to disclose their recruitment compensation packages.
SEC’s Top Cop, Khuzami, to Leave
The SEC’s top cop, Robert Khuzami, plans to leave the agency later this month after four years as its enforcement director, the SEC announced Wednesday.
Wirehouses, IBDs Post Final Recruiting Wins, Losses of 2012
Morgan Stanley, Merrill Lynch and other firms saw a number of advisors come and go at year end.
Wirehouses, Others Actively Attract Reps
In the final months of 2012, the wirehouse firms continued to recruit advisors from each other and from other broker-dealers.
Top 30 401(k) Plans of 2012
Brightscope, which provides retirement plan ratings and investment research, released its fourth annual Top 30 401(k) plans with more than $1 billion in assets.
Barclays Recruits 18 Advisors; Morgan Stanley Adds 1; LPL Group Brings on Wells Team
The new Barclays advisors come from many wirehouse and other firms with close to $40 million in yearly fees and commissions, as well as about $9.4 billion in assets.
Moody's Says Sandy Likely to Drive Further Rate Increases
Moody’s reports that one positive result of Hurricane Sandy for insurance companies is that the event will likely help support price increases going into 2013.
UBS to Slash 10,000 Jobs
The actions are seen as a way for UBS to go "back to its roots" in the advisory business.