Schwab Reports Fewer, but Bigger, Advisor M&A Deals in 2012
By James J. GreenSchwab Advisor Services quarterly report shows rollup firms account for a larger number of done deals in 2012.
July 24, 2012
Brokers Manage Products; Investment Advisors Manage ProcessThe absurdity of suggesting that investment advisors and broker-dealers often provide indistinguishable services demonstrates a stunning depth of misunderstanding regarding the two industries.
July 20, 2012
Genworth Wealth Adds 4 Strategists, 8 StrategiesI call it the happy meal, says Genworth Wealth Management President and CEO Gurinder Ahluwalia of the firm's simplified menu of portfolio strategies for indie advisors.
July 19, 2012
SEC, DOL Enforcement Roundup: CDO Woes, Short-Selling Brothers, Amish FundRecent actions by the SEC and DOL included fines of $127.5 million for a securities firm over false CDO credit ratings and $14.5 million for two short-selling brothers, along with deferred prosecution for an Amish fund.
July 19, 2012
No Jargon, Please: Think 401(k) Investors Know What ‘Fund’ Means? Think AgainPlain English, it turns out, is the key to getting employees to save more for retirement, says a survey of retirement plan participants released by State Street Global Advisors.
July 18, 2012
BNY Mellon Profits Off 37% on Lawsuit Costs, but Pershing Is a Bright SpotBank 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.
July 17, 2012
New Clients Drove Record Revenues in 2011: Schwab RIA Benchmark StudyProfits grew 14% at the median firm in 2011, mostly driven by revenue growth, while principal income was also up 5% at $341,000, according to the Charles Schwab 2012 RIA study.
July 17, 2012
Social Media Is Hottest Compliance Topic for RIAs: SurveySocial media use among RIAs has shot up over the past year, with 80% of RIAs stating they have adopted formal written policies on social networking, according to the Investment Management Compliance Testing Survey.