Merrill’s New Training Could Put Advisors in ‘Sticky’ Situation
The program is intended to help advisors with succession, but it could make it harder for advisors and clients to leave, Mark Elzweig says.
Raymond James Recruits 3 Wirehouse Teams, $875M in Client Assets
Meanwhile, Morgan Stanley and Merrill Lynch grab advisors from each other in the latest recruiting push.
Morgan Stanley Wealth Earnings Up, but Merrill Stays Ahead in Q2
Despite Gorman’s push, the Morgan unit still has room for improvement on some fronts compared to its main rival, Merrill.
Morgan Stanley Beats Estimates on Smaller Drop in Fixed Income: Q2 Earnings
Morgan Stanley saw a smaller drop in second-quarter fixed income trading revenue than Citigroup or JPMorgan.
Wirehouse Bleeding of HNW Assets Stabilizes: Cerulli
For the first time in recent memory, wirehouses are retaining their share of assets, including those of high-net-worth investors.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
Bank Q2 Earnings to Reflect ‘Rebound’: Sterne Agee
Banks are poised to make some second-quarter earnings gains after a tough start to 2014, equity analysts say.
Wells Fargo Profit Up Nearly 4%: Q2 Earnings
Meanwhile, net income of Wells Fargo's Wealth, Brokerage and Retirement unit rose 25% year over year.
Wells Fargo Grabs 8 Advisors With $1 Billion in Assets
Meanwhile, RIAs affiliated with Focus Financial and LPL add reps.