Turnkey Asset Management
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BofA to Expand Merrill Edge Advisors
By Janet LevauxBank 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 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
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 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.