HighTower Adds $500M Group from UBS, Merrill: Recruiting Roundup
RBC grabs all-female UBS team, LPL attracts hybrid group, Cetera shares board news, and Wells Fargo promotes execs.
‘No Evidence’ DOL Rule Is Hurting Recruiting: Raymond James
Though Morgan Stanley says the fiduciary standard is slowing advisor movement, the independent advisor group begs to differ.
3 DOL Fiduciary Takeaways From Morgan Stanley’s Q1 Earnings
CFO Pruzan outlines the impact the new fiduciary rule is having on the firm's sales, recruiting, margins and costs.
Critic of 'Overpaid' CEOs Dies at 82
NYSE compensation consultant Graef Crystal criticized Citi's Weill and NYSE CEO Grasso, but labeled BofA's Moynihan as underpaid.
Wells Fargo CEO Says Ousting Majority of Board Would Be ‘Crazy’
Board grasps bank’s problems, Wells Fargo’s Tim Sloan says, and gutting panel would be “absolutely irresponsible.”
Focus Financial to Sell Big Stakes to KKR, Stone Point
The RIA aggregator says it now has some 45 partner firms and is valued at $2 billion.
Why Individual Investors Support Fiduciary Rule: Financial Engines Survey
A survey from the nation's biggest 401(k) advisor found that 93% of Americans want advisors working on retirement accounts to put client interests first.
Raymond James’ Semi-Indie Channel Grabs $700M Team From Wells Fargo
A team of four advisors leaves Wells’ Profit-Formula Group to join Advisor Select in Huntsville, Alabama.
BofA Profit Jumps in Q1 as Wealth Unit’s Asset Flows Top $29B
The number of advisors in the Thundering Herd, though, falls below 14,500 as more reps retire.
What to Make of Merrill's Reorg, New Ads
Is Merrill Lynch — now led by Andy Sieg — wrestling with issues tied to the DOL's new fiduciary rule?