12 Best & Worst Broker-Dealers: Q3 Earnings
Earnings fell as much as 88%, but also jumped over 70% within the broker-dealer industry—AdvisorOne spotlights the six best and six worst performers.
Wedbush Nabs Morgan Stanley FA
Southern California-based Richard Wright moves from the wirehouse to the independent firm.
Morgan Stanley Grabs Reps From Raymond James, Wells Fargo
The three new advisors move to Morgan Stanley with more than $4 million in yearly fees and commissions and roughly $430 million in client assets.
New Hire Roundup: Wedbush Private Client Services Group Adds Wright
Also this week in new hires, Lance Losey and Mary Welk joined Ascent Private Capital Management and Michael Millman joined The Private Client Reserve in San Francisco.
New Hire Roundup: Mozzocci Goes to Cantor Fitzgerald
This week in new hires, Cantor Fitzgerald Investment Advisors welcomed Theresa Mozzocci, and BondDesk announced that Howard Edelstein would add the role of CEO to his position as chairman.
Mergers: A Tech Nightmare for Advisors
No one presumes that technology integration between big financial services firms will be headache-free, but such unions can unleash tech fiascoes. At stake: advisor productivity and morale.
Merrill Grabs $2.5B Morgan Stanley Team
The group is led by Rebecca Rothstein and is based in Beverly Hills.
Finance Sector’s Q3 Growth Seen Leaving Others in Dust
Early reports for the finance sector’s third-quarter 2012 performance indicate that it is on track to best all other sectors, at overall profits of 11.8%, in what looks to be an otherwise lackluster earnings season.
SEC, FINRA Enforcement Roundup: Merrill Slapped With $500,000 Fine
Recent FINRA actions include a $500,000 fine against Merrill Lynch for failing to file required reports, and a joint action with the SEC and the exchanges against Hold Brothers.
Merrill Grabs Morgan Stanley Exec to Run Annuities, Insurance
Michael Maghani, a 30-year industry veteran, was previously with Citi, UBS and other firms