Victoria Zhuang is the professional development reporter at Financial Planning. She has a bachelor's degree in comparative literature from Harvard University and a master's degree in journalism from Columbia Journalism School. Before joining FP, she freelanced as an arts and culture writer while working in the Boston nonprofit world for several years. She also completed a Dow Jones News Fund business reporting internship at American Banker. Victoria covers how wealth management firms maintain their competitive edge and how financial advisors can achieve excellence serving clients of all wealth levels. She is a native of New York City.
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Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.
April 19 -
Although the bank's wealth businesses logged strong organic growth for the quarter, revenue fell and hiring languished after two strong quarters of headcount gains under then-president Andy Sieg's leadership.
April 18 -
The megabank had another productive recruiting quarter in its wealth units, as it reported record first-quarter revenue Friday.
April 14 -
The firm could be roasted on the coals of its own publicly shared goals for increased hiring and support for diverse advisors, as well as its internal data that allegedly tracks related metrics.
April 13 -
The move comes as First Republic's struggles in the banking crisis have driven many high-profile advisors to leave, creating an opening for others to poach.
April 10 -
The action comes as the SEC plans heightened scrutiny of advisor disclosures and activity, and serves as a reminder to stay on top of the basics.
April 6 -
The firm blamed a coding error from a trading software it upgraded at the time. FINRA took nearly eight years to discipline Goldman for the problem, which allegedly began in 2015.
April 5 -
Millennial investors across wealth segments are beginning to work with advisors at a much earlier age than prior generations did, a new Ameriprise study shows. Here's why, and what advisors can do about it.
April 5 -
Although the new leaders at Merrill could offer advisors new hopes, the firm could well suffer further attrition after Andy Sieg's defection last week to Citigroup.
April 3 -
Plaus had planned to leave the bank after March 31. But Merrill head Andy Sieg's sudden departure for Citigroup triggered an executive shuffle.
April 1 -
In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.
March 30 -
It wouldn't be easy for elite advisors at the bank to leave, for reasons ranging from loyalty to deferred compensation. But as spooked clients demand stability, some competitors see a rare opening to recruit.
March 29 -
Asian Americans and Pacific Islanders have unique planning needs that aren't always met in the industry.
March 27 -
The stolen funds were allegedly spent on personal expenses including a swimming pool, crypto, luxury cars, a piano and a romantic relationship.
March 24 -
The case comes as employment suits related to mental health disabilities are expected to increase coming out of the pandemic.
March 23 -
Combining the two Swiss megabanks means more assets and a bigger brand for UBS. But it could be a heavy lift, slowing U.S. advisor recruitment.
March 21 -
UBS's website rolled out last fall, before the current banking crisis.
March 20 -
Firms across the industry are scrambling to assuage client fears, while others are taking advantage of the frenzy to attract talent. Meanwhile, some advisors are using the moment to reassess what they want professionally.
March 17 -
The wirehouse is building on its earlier AI efforts to improve user experience among clients and advisors, and is looking to do even more with AI soon.
March 15 -
Experts say the Wall Street wirehouse pays a 'premium' to recruit, but moves like this one reveal it failing to stop top performers from breaking away. Here's why.
March 12
