Frances McMorris

Krawcheck calls for more diverse perspectives -- not necessarily based on gender or race -- and talks about the importance of appealing to younger investors put off by the struggling economy and Wall Street scandals.

Wirehouses have lost headcount and asset share even as the average assets under management per advisor in the channel has risen, according to a new report released Friday from Cerulli Associates.

Here are five of the most common scams that advisors and their clients either managed to avoid or fell victim to this year.

Recruiters predict discontent will lead to more advisor defections.

As the parent company announces earnings, the Americas unit sees more net new money and higher FA productivity.

Growth -- the kind measured in revenue and profits -- is the ultimate goal for the entire brokerage industry. As On Wall Street editor-in-chief Frances McMorris points out, figuring out how to achieve these goals while dealing with constant change is what firms like Raymond James and its competitors are now learning to do on the fly.

Raymond James isn’t likely to be a buyer for Region’s Financial’s Morgan Keegan unit. In an interview at the 17th annual Raymond James Women’s Symposium Thursday morning, two Raymond James executives said that there was too much overlap between their firm and Morgan Keegan -- even though it was attractive.

Morgan Stanley has announced that John J. Mack will step down as chairman of the firm and leave the board of directors at the end of this year, and James Gorman will take over that position.

While there may be investing opportunities in the markets, the weak housing market and unemployment hovering just above 9% are the issues that concern the nation and that are depressing the president’s poll numbers. And, voters -- including those without jobs and those who want to look for better ones --are getting mighty impatient.

While there may be investing opportunities in the markets, the weak housing market and unemployment hovering just above 9% are the issues that concern the nation and that are depressing the president’s poll numbers. And, voters -- including those without jobs and those who want to look for better ones --are getting mighty impatient.

Opportunities are certain to be abundant for Sallie Krawcheck, the former president of global wealth and investment management at Bank of America Merrill Lynch who was shown the door in a Tuesday evening management shakeup. But can the same be said for the advisors left behind?

I hate mixed messages but it seems there is finally some good news on the employment front. According to the Department of Labor this morning, non-farm payroll employment added 244,000 jobs in April, with the private sector seeing job growth of 268,000. While that figure exceeded expectations, the unemployment rate rose to 9%. Some experts explained that increase to the people who weren’t looking for jobs now resuming their job-hunt. …

For the financial services industry, for Wall Street, the impact has special meaning.

Vanguard's Jack Bogle argues for more competition.

The wirehouse advisor market is shrinking with only Wells Fargo showing growth. Tiburon's Roame predicts UBS Wealth Americas might be sold.

According to Prudential, only one in four African-Americans surveyed use the services of a financial planner, but they want more financial guidance.

Motivating staff and building relationships lead to success

It’s not all Super Bowl rings when you advise star athletes on financial matters.

The winners of the fourth annual awards, sponsored by New York Life/Mainstay Investments, will be feted at an awards dinner in Manhattan in May.

Private sector job growth continues its upward trajectory