Bonuses Up 8%: Report
Wall Street bonuses should be up about 8% this season and total $20 billion, according to New York State Comptroller Thomas DiNapoli. But experts caution that this increase doesn’t necessarily translate into much these days for advisors.
LPL’s Latest Shot in Tech ‘Arms Race’: Naming Ex-IT Exec to Board
Several experts are wowed by former Xerox CEO Anne Mulcahy’s new role at LPL.
Bonus Season’s Cash Payouts ‘De Minimis,’ Expert Says
The latest figures don’t make an ugly picture for Wall Street employees any prettier.
Wirehouses Roll Out ’13 Comp Plans
After getting feedback from top advisors, Morgan Stanley said in December that it will share a new stock-ownership plan with reps in 2013.
How LIBOR Settlement Could Hurt UBS
UBS, which has more than 7,000 advisors in the Americas, recently agreed to pay more than $1.5 billion over LIBOR manipulation and related charges. Will its troubles drive away clients and recruits?
Morgan Stanley Bonus Deferment Seen as Warning Shot
The plan does not affect financial advisors this year, but could be a sign of things to come industrywide, experts say.
Morgan Stanley to Slash 1,600 Jobs
The cuts focus on institutional operations, such as investment banking and trading activities at the wirehouse.
UBS Reps & LIBOR Woes: ‘A Bit Exhausting,’ Says Expert
Plus, the latest scandal won't be the last for the firm—or for the industry, points out Chip Roame.
BofA-Merrill New Comp Plan: Good News, Bad News for Advisors
“There is a revision to the bonus plan that could make it actually harder to earn the initial amounts,” said a compensation consultant.
The Bonus Debate
Much as I believe that investors everywhere would benefit from a level playing field between RIAs and brokers, the disclosure of recruiting bonuses would be over the top.