Industry

Advisors naively believe that only 17% of their clients hold a direct account when in fact 74% do, according to a new report from Boston-based research firm Cerulli Associates.

WHV Investment Management today announced that Andrew Turner will join the company as president and chief executive officer, replacing Judith Stevens who is retiring next month after more than three decades with WHV.

Parametric Portfolio Associates, a subsidiary of Eaton Vance Corp. (EV), and The Clifton Group Investment Management Company announced today the completion of the previously announced purchase of Clifton by Parametric.

As the calendar turns the page to another year, 2013 offers the four largest U.S. wealth management businesses the opportunity to recapture some of the assets and talent they have been ceding to other firms.

Allen Saunders went from pet food distributor to UBS financial advisor to number 36 on On Wall Street’s 2012 list.

This year was a “slower year than many expected,” in terms of financial advisors departing major firms for other pastures, according to Chip Roame, the managing partner at Tiburon Strategic Advisors. “I believe 2013 may be slower, too,” he says.

If there is one sentiment that fiscal policy debates in Washington have taught investors not to expect over the years, it’s optimism, according to the chief market strategist at LPL. Time and again, we have seen our politicians respond to serious questions on the future of our nation’s economy by kicking the can down the road, or worse. Could it be different this time around for 2013?

Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Company, is adding another title to his business card.

Small and mid-sized firms look to maintain momentum from 2012 by offering more services and leveraging social media.

Wells Fargo financial advisor John Handley, number 37 on On Wall Street’s list, remembers getting that very first client and the cadre of business relationships he’s had for years.