New Hire Roundup: Gail Cohen to Chair New York Bankers Association
This week in new hires, Porter Schutt and Bill Dugdale joined Brown Advisory, and Brian Major went to AlixPartners.
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.
Sales Capacity Is Leading Growth Challenge for Advisors
One of the main challenges facing advisors is sales capacity, a report by LIMRA and McKinsey & Co. found.
Joint Venture Drops Smith Barney
Morgan Stanley says that its U.S. wealth management business is now branded Morgan Stanley Wealth Management (MSWM).
Morgan Stanley Drops Smith Barney From Name
“The name change was not unexpected,” said a recruiter. “Finally, we have the culmination of what was not a joint venture, but a takeover.”
Have the World’s Wealthy Stashed $21 Trillion in Tax Havens?
An organization opposed to tax avoidance estimates the world’s wealthiest individuals have stashed at least $21 trillion in offshore tax havens, an amount greater than the combined GDP of the U.S. and Japan.
New Hire Roundup: Morningstar Adds to Fund Research Team
This week in new hires, Morningstar announced six appointments for its fund analyst research team; James Machuga joined Merk Investments; and Philipp Hildebrand was named vice chairman at BlackRock.
5 Misconceptions About Consumers and IRA Rollovers
The IRA rollover market creates a massive opportunity for advisors, according to recent research from McKinsey & Co.
McKinsey’s Prescription for Private Banks: Look to Fast-Growing ‘Core Millionaires’
American households with investable assets of $1 million to $10 million are the fastest-growing, largest and most profitable segment of the wealth market, says McKinsey & Co. in a new report.
TDF Investors Report High Levels of Retirement Confidence
Over two-thirds of investors with assets in target-date funds feel more secure about their retirement than those not invested in TDFs, a report released Tuesday by ING U.S. found, and nearly three-quarters say they are confident that they’re making good investment decisions.