Morgan Stanley Recruits 5 Advisors; Merrill Adds Team
The wirehouses each add registered reps from rival firms with more than $500 million in client assets.
Morgan Stanley Q3 Profits Jump 87%; Wealth Unit Improves Margins to 22%
The wirehouse reps’ average fees and commissions top $930,000 but remain behind Merrill FAs’.
New Hire Roundup: Waddell & Reed Opens New Office
Meanwhile, David Stofer, Mark Nothnagel and their team join newly launched Mariner Retirement Advisors.
BofA Posts Small Q3 Loss; Merrill Reps Near $1.1M in Average Production
The wealth-management operations report a pretax profit of 27.4% on net income of $813 million.
Imminent End of QE in U.S. Spooks Global Fund Managers
Fund managers’ confidence that the global economy would strengthen over the next 12 months plummeted to its lowest level in two years in October, a Merrill survey says.
Krawcheck Calmly Rips Microsoft CEO Over Comments on Women
Krawcheck criticizes Satya Nadella’s advice that women shouldn’t ask for raises but should rely on “karma” instead.
Raymond James Reworks Employee Channel Leadership
The shifts are announced ahead of its Women’s Symposium and investment advisor confab.
3 Ways to Boost Impact Investing, Spur Millennial Investors
Wealthy millennials are twice as likely as their grandparents to use their investments for social impact.
Healthier Retirees Will Spend More on Health Care: IRI
Experts suggest that advisors need to start considering health care costs in their clients' financial portfolios due to increasing life expectancies.
Boutique Firm Snowden Lane Adds $400M UBS Team
Snowden Lane is closing in on $1.4 billion in assets nationwide with its latest recruits.