Credit Suisse to Pay $196 Million to SEC Over Cross-Border Infractions
Credit Suisse relationship managers traveled to the U.S. to advise and solicit clients, collecting $82 million in fees, without registering with SEC.
Aging Advisors: Bad News for Indies, Good News for Wirehouses
New research suggests that custodians and BDs who partner with independent advisors face a serious risk to their business models as advisors age.
Gen X, Y Hungry for Advice, but Advisors Don't Satisfy
Younger investors are more likely to feel their advisor isn't really working for them, less likely to recommend their advisor to someone and more likely to spread their assets among multiple advisors, according to a report from Market Strategies International, a global market research firm.
UBS, Raymond James Grab $2M Teams From Rivals
Meanwhile, Sapient recruits a rep from RBC in Oregon, a new RIA opens its doors in Minnesota, and an ex-Ameriprise group joins LPL.
Baird Grabs Wells Fargo Team as FSC Adds Morgan Stanley Reps
The wirehouse groups join an employee-owned firm and an IBD with about $215 million and $300 million in client assets, respectively.
Russia, in Thrall to Commodities, Has a Bright Spot
More than half of investors see the Olympic host country as a “bad” place to invest. But one sector critical to Russia is outperforming.
Securities America Rolls Out ‘Breakaway’ Model to Lure Wirehouse Reps
Reps can join it as independent contractors but work in a branch office.
Easing Basel Rules Boosts Bank Stocks, but Hazards Linger
European banks’ persistence paid off in mid-January as the Basel Committee somewhat relaxed two of its requirements on leverage and liquidity ratios.
Gen X, Y Hungry for Advice, but Advisors Don’t Satisfy
Younger investors are more likely to feel their advisor isn’t really working for them, according to a report from Market Strategies International.
Focus Draws $1B UBS Breakaway Team
Raymond James tweets its recruiting news, as Morgan Stanley and UBS share their latest advisor deals.