12 Best & Worst Broker-Dealers: Q2 Earnings
Earnings fell as much as 58%, but also jumped over 600% within the broker-dealer industry—AdvisorOne spotlights the six best and six worst.
Morgan Stanley Profit Off 53% as MSSB Loses 1,053 Advisors
The Global Wealth Management Group, which includes the MSSB joint venture, reported a pretax profit margin of 12%, versus 11% in the prior quarter and 9% a year ago.
BNY Mellon Profits Off 37% on Lawsuit Costs, but Pershing Is a Bright Spot
Bank of New York Mellon's Q2 earnings were down due to costs from an investor lawsuit, but the clearing services unit that includes Pershing Advisor Services helped slightly offset that profit loss.
5 Best & Worst Advisor Partner Firms: Q1 Earnings
The wirehouses, top IBDs and associated players serving advisors had their earnings fall as much as 718% and improve up to 13% in Q1—AdvisorOne selected 10 to spotlight.
Markets Could Crash ‘Like in ’87,’ Faber Says
Without further quantitative easing, U.S. market momentum could lose support and deteriorate, the investment guru predicts.
New Hire Roundup: Hedge Fund Association Announces Officers; Carlyle Names Board
This week in new hires, Hedge Fund Association announced newly elected officers; Carlyle Group named new board members; Altegris welcomed Amy Bennett; Sanjay Puri joined Zephyr Associates.
At Lipper Awards, PIMCO Wins Best Large Equity Fund; Nuveen Best Overall Fund Family
Suprisingly, PIMCO's $250 billion-plus Total Return Fund didn't even get a mention on Lipper’s long list of U.S. fund award winners.
Libor Links Deleted From Banking Group's Site
The British Bankers’ Association, apparently distancing itself from controversy, has deleted links from its website that refer to its role in setting the London interbank rate as investigations over charges of rate manipulation swirl across the globe.
Q4 Earnings: LPL Boosts Results, but Misses Estimates
The independent broker-dealer ends the year with nearly 12,850 advisors, a jump over 3% from the year-ago period, and strong growth in its RIA custodial assets.
New Hire Roundup: Horan Goes to Chilton, Pan Moves Up at SEC, CFP Board Gains Myers
This week in new hires, Timothy Horan moved to Chilton Private Clients, with a team of four; Eric Pan joined the SEC; Roger C. Myers, Jr. was named CFO at the CFP Board; and Neuberger Berman added four new wholesalers.