Turnkey Asset Management
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Q2 Earnings: Ameriprise Misses Estimates; No News on Securities America Sale
By Janet LevauxThe number of Ameriprise advisors is 9,663, the company says, and its discontinued operations lost $4 million in the period.
July 26, 2011
BofA to Expand Merrill Edge AdvisorsBank of America said in mid-June that it planned to nearly double the number of Series 7 financial advisors serving its mass-affluent Merrill Edge client…
July 21, 2011
Q2 Earnings: Morgan Stanley Tops Estimates, Boosts Wealth ResultsMorgan Stanley Smith Barney is ahead of rival Merrill Lynch in FA headcount and average assets but lags in annualized revenue per advisor.
July 19, 2011
Q2 Earnings: Wells Fargo Beats Estimates; Advisor Headcount DropsWith 15,194 financial advisors and about 3,800 bankers, Wells Fargo now has 18,989 licensed professional, which is 205 less than in Q1.
July 19, 2011
Q2 Earnings: BNY Mellon Profits Rise Nearly 12% as Pershing Revenue Stays FlatBank of New York Mellon reported profits of nearly 12% in Q2 2011, but the Pershing RIA custody unit's revenues were flat.
July 19, 2011
Q2 Earnings: BofA Posts Big Loss; Merrill Adds AdvisorsLoss 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
Global Managed Assets Return to 2007 Levels, Cerulli FindsIt's taken nearly two years, but global assets under management are back to where they were in 2007, with total AUM reaching $53 trillion at the end of 2010, according to Cerulli Associates.
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