Updated Sunday, July 13, 2014 as of 11:52 PM ET
Morgan Stanley Recruits 5 Advisors From Rivals
Morgan Stanley has snapped up five advisors in the past few weeks who generated more than $6 million in annual revenues at rivals Merrill Lynch, Wells Fargo and J.P. Morgan.
Linda Goodson, a 19-year industry veteran, signed on with the wirehouse's Palm Harbor, Fla. office on July 3. Goodson left her post at Wells Fargo and will report to Morgan Stanley branch manager Terry McCoy.  Goodson managed $110 million in her previous position, generating $1 million in annual revenue.   more »
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Wells Fargo's second quarter profits rose to $5.7 billion, buoyed in part by a roughly 25% increase in profits at the San Francisco bank's wealth, brokerage and retirement unit. more »
Raymond James & Associates lured away a UBS advisor team managing $575 million in assets. more »
Morgan Stanley has lost a team that generated $3 million in annual revenue to Steward Partners Global Advisory, boosting the eight-month old independent firm's total recruited assets to more than $1 billion. more »
Thomson Reuters mid-year data shows that Morgan Stanley has jumped up underwriter ranks in the second quarter from the first quarter, managing a larger volume and increasing its market share. more »
Morgan Stanley CEO James Gorman wants to reduce advisor compensation relative to revenues, but experts warn that changing comp isn't without pitfalls. more »
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer. more »
Two advisors managing more than $160 million in client assets have jumped from Merrill Lynch to Bison Financial Group, an independent practice of the Wells Fargo Financial Network. more »
Opponents argue that the long time horizon and heated controversy could convince the White House to back away from the retirement plan proposal. more »
Two UBS advisors managing more than $300 million in assets have joined Wells Fargo. more »
OnWallStreet's annual ranking of top wirehouses and regional broker-dealer firms in the employee advisory channel gives an encouraging snapshot of the wealth management industry. This year’s analysis from surveys and both corporate and public filings shows growth across the board. more »
OnWallStreet's annual ranking of the wealth management industry's top wirehouses and regional broker-dealers shows continued growth at these firms but they still face challenges growing their business. See which firms ranked highest and how the industry's leaders plan to stay on top. more »
For clients, is one type of firm, business model or fee structure better than another? more »
UBS' Barry Ringelheim has seen enormous changes in the industry during his 46-year career as a financial advisor. But he says earning clients' trust remains the foundation of the business. more »
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