Investment Platforms
Get the latest news and insights on investment platforms (including digital, mobile and online platforms), and how these developments impact financial advisors, the wealth management industry and more.
Q2 Earnings: BofA Posts Big Loss; Merrill Adds Advisors
By Janet LevauxLoss was spurred by mortgage settlement that included Countrywide issues; Merrill Lynch now includes more than 16,240 advisors with average yearly sales of $894,000.
June 28, 2011
Baird Adds 7 Advisors From Morgan Stanley, Wells FargoThe financial advisors join Baird in the Midwest with about $420 million in assets and $2.8 million in yearly fees and commissions
June 22, 2011
Morgan Keegan Agrees to Pay $210M Fine; Could Be Sold by Parent FirmAfter a big fine relating to mortgage-backed securities, Regions Financial brings on Goldman Sachs to explore "strategic alternatives" for the broker-dealer.
June 21, 2011
Bank of America to Double Size of Merrill Edge Advisor GroupThe mass-affluent group should have 1,000 advisors by year-end
June 17, 2011
Fidelity, Russell Surveys Find Disparity in Advisor-Client POVsFidelity Investments announced on Thursday the results of its third Insights on Advice survey.
June 09, 2011
Fairholme’s Berkowitz Defends Performance, Details Decisions: Morningstar ConferenceBerkowitz, suffering from laryngitis, nonetheless answered questions from Morningstar’s Don Phillips about the investments he makes, his macroeconomic viewpoint and the criticism he’s received over his fund’s poor performance during the past six months.
June 09, 2011
Morgan Stanley to Fire More Advisors Who UnderperformedThe layoff news comes just three months after a few hundred low-producing FAs were cut from Morgan Stanley Smith Barney.
June 01, 2011
Robert Jenkins to Lead FRCA former Fidelity Investments executive is taking over as president of Financial Research Corp.